The Problem we solveModulTrade addresses the needs of small enterprises by eliminating the traditional barriers for entry in the global trade:
• Lack of trust
• High entry costs
• Complexity of trade related operations
small enterprises globally
From opening an account to moving money between accounts, even for something as simple as buying online, banks charge you fees for everything which adds up over time.
While some may argue that charging fees for services are justified, individuals are still let down every day but the inefficiency of these institutions that are using outdated systems and practices not fit for the modern era.
One of these inefficiencies can be seen in international trade for micro-small-medium sized businesses (MSMEs).
First, the idea of an international trade is far beyond the capabilities of many MSMEs. Even if they want to trade internationally, they don’t know where and how to start which represents a gap in the market.
For these MSMEs to even enter international trade, they would have to go through some sort of trade financing to ensure that trades go smoothly without breaking the bank.
Unfortunately, 56% percent of trade financing proposals from MSMEs are rejected compared to the stark contrast in multinational corporations where only 7% of proposals are rejected.
Proposals are often rejected because MSMEs don’t have the resources to overcome the high entry costs of trade financing. The complexity of these trades is also too much for small businesses where deals are rather simple and straightforward.
The main problem, however, comes from the inherent lack of trust in these trades.
Simply put, will the buyer pay the seller for the goods received or vice versa?
This problem is currently solved with risk-reducing steps like a letter of credits or bank guarantees but these solutions are not effective for MSMEs because they are expensive and the customer experience during the process is not always going to be a pleasant one.
ModulTrade launched their main token sale as a means of allowing users to participate and support functionality of their blockchain-based global trade platform for micro, small and medium enterprises (MSMEs).
Cited as one of the Top 20 Most Promising Blockchain Technology Solution Providers, the ModulTrade platform taps into the heart of blockchain technology, providing users a secure platform, with a simple digital end-to-end trade process, and transactions in real time. The application of smart-contracts legally and efficiently replaces conventional financial trade instruments, such as letters of credit and bank guarantees. Overall, ModulTrade provides a new opportunity to MSMEs, minimises costs and time in a trusted digital marketplace, which allows businesses to meet, commit and execute trade securely.
Through continual development and testing of their minimal viable product, the ModulTrade technical team has found themselves in a position which rises above others, with bringing forward the launch of their fully functioning platform — a new digital marketplace which is now live and ready to trade on.
Currently, the ModulTrade platform accepts ETH (Ethereum) in addition to MTRc (the ModulTrade token) for funds, with plans to soon accept other ERC20 tokens, along with fiat (USD, EU, £ etc.). To allow entrepreneurs to use the ModulTrade Platform, some MTRc has been released for free float in the system. Users may buy and sell MTRc at a nominal price of 1ETH = 700 MTRc at the exchange, Etherdelta.com. Soon, the ModulTrade platform will buy MTRc at a nominal rate for fiat from merchants.
Commenting on the start-up, ModulTrade co-founder and CEO Evgeny Kaplin, said: “We launched our pre-sale in early October, our pre-sale has so far attracted participants to raise $1.5mln, or 3.5mln MTRc. We are very pleased with the progress of the sale, as much as with the development of our fully functioning platform and we are in the process of working with a German-based merchant."
The company has attracted some of the best experts in the financial trade, global currency and facilities management industries, who sit on the advisory board. These include author of "The Future of Money" Bernard Lietaer, LAToken CEO Valentin Preobrazhensky and co-founder and Chief Investment Officer of GTR Ventures Kelvin Tan, to name a few.
The ModulTrade system will change the way companies trade, open networks across the world and provide a newfound opportunity to make MSMEs go from local to global players.
|Token Sale is finished. Thank to our participants!|