As we draw closer to the end of 2017, we would be naïve to find ourselves in a position where the term “blockchain” is not crowned as the buzzword of the year. Institutions big and small are sitting up and taking note of the all the benefits blockchain technology provides. With such market saturation, it is not as simple today, as it was perhaps a couple of years ago, to take on this digital revolution moving at tremendous speed, with a sound and solid business proposition or consumer product.
However, this is exactly what new London based company ModulTrade have achieved. Bringing a breath of fresh optimism and promise to MSME’s (micro, small and medium enterprises), the ModulTrade blockchain based platform will democratize global trade by connecting businesses from around the world, allowing them to meet, commit and execute trade safely and securely.
By tapping into the heart of current blockchain technology, the ModulTrade team are developing the beginnings of a new age in digital trading, and it’s an exciting position to be in. A smart-contract based platform, the ModulTrade Value Eco-system will replicate traditional processes, such as letters of credit and bank guarantees, but at a much lower cost to the user and all at the touch of a button, via smartphones or desktops. The platform will open the trade doors wide, providing new opportunities to enterprises and offering them a leverage into the same playing field as bigger corporations.
The team at ModulTrade find themselves in a unique place as one of the first to not only identify the benefits of blockchain when applied to global trade systems, but to implement and take an idea on paper forwards to the public. Borne from the minds of MIT graduates, the ModulTrade team hold on average 20 years’ experience in financial trade systems, management and technology. They have been blessed with the backing of several high-profile experts who have joined their advisory board, including currency system specialist Bernard Lietaer. The volume of support is a true testament to their product, proposition and passion, and their following keeps on growing.
A force to be reckoned with, ModulTrade are determined to continue championing MSME’s around the world. Their token pre-sale, which launched early October 2017 (a year from when the team first began working on this recipe for success), has received positive response, with a number of individuals in high praise of the product.
Combining the development of ModulTrade’s Value Eco-system with the launch of the new ModulTrade crypto token (MTRc) provides the golden key to buy and exchange directly within the platform. Architected on Ethereum and complying with the widely-accepted ERC-20 token standard, users of ModulTrade will be able to exchange value in real-time. MTRc will also be compatible with all ether wallets and can be easily added to common crypto-exchanges for trading. Following the success of the token sale, the ModulTrade team have plans in place to test the ModulTrade Value Eco-system in market and deliver the platform globally by Q3 2018.
The team are continually working on and developing Its’ MVP (minimal viable product), with serious consideration and thought given to every scenario. The result is a streamlined and simple platform for a user to navigate, from the first steps of creating an account and logging in, through to trading in real-time with MTRc, creating contracts, payments to seller and payment for goods processed. In November, the team releases a new version of the MVP, based on learnings and thorough testing.
Rather than a threat to the bigger traditional institutions, the technology ModulTrade are developing will propel global trade into the digital world, and provide learnings and opportunity for the continual development and growth of the industry as a whole.
Imagining the possibilities alone, you can understand why ModulTrade comes to the market as innovators. Their smart thinking and full understanding of blockchain has allowed them to lay down the foundations and apply traditional processes to create a new blockchain application. The ModulTrade product sends out a message that is loud and clear, offering transformation, opportunity, and a welcome change to revolutionise how the world trades.
To find out more about this forward-thinking project, visit the ModulTrade website https://modultrade.io/