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Author Topic: [ANN][PRE-ICO] 🚀🚀 ModulTrade : The Freedom To Trade 🚀🚀  (Read 30559 times)
Dafar
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October 05, 2017, 10:22:49 PM
 #1

Disclaimer:
I am the bounty campaign manager of this ICO, I am not part of the founding team. I am not responsible for any word posted below.
Dafar.







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October 06, 2017, 02:34:33 AM
 #2

Good project, I like it
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October 06, 2017, 06:10:49 AM
 #3

It looks like a nice project
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October 06, 2017, 06:24:02 AM
 #4

The team members have experience in MBB (MCKinsey as far as I know). So this should be a good project.
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October 06, 2017, 06:27:26 AM
 #5

where is the thread bounty sir? I am interested to participate.

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October 06, 2017, 01:34:40 PM
 #6

where is the thread bounty sir? I am interested to participate.

Hi Sir!

here is the link to Bounty https://bitcointalk.org/index.php?topic=2240533.0
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October 07, 2017, 09:04:10 AM
 #7

where is the thread bounty sir? I am interested to participate.

You are welcome, I am the bounty manager.

https://bitcointalk.org/index.php?topic=2240533.0




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October 08, 2017, 09:33:39 PM
 #8

Hi folks, looks like a cool project!
The project team looks great
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October 08, 2017, 09:41:09 PM
 #9

 More code, less marketing, please. Waiting for youtube channel - this might be interesting, but I don't buy infographics so far... Why this project is better than 10'000 similar?


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October 08, 2017, 10:00:51 PM
 #10

Why this project is better than 10'000 similar?

IMO :
1 - guys solve real problem for the huge market
2 - have MVP ready
3 - team seems to be experienced with the technology and marketing
4 - product is well explained

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October 09, 2017, 02:08:28 PM
 #11

More code, less marketing, please. Waiting for youtube channel - this might be interesting, but I don't buy infographics so far... Why this project is better than 10'000 similar?
Hi,
I am Evgeny - one of the ModulTrade leaders (CEO)

Why is ModulTrade different?

I. ModulTrade monetizes the need of 400mln SMEs to start trade globally
1. ModulTrade is starting to use blockchain for the real B2B trade (small Constructor from Italy buys paints from Poland)
2. ModulTrade replicates bank instruments on blockchain (Letter of Credit and Guarantee) at almost zero costs, vs.5-15% charged by banks (SMEs gets secure mechanism for payment and delivery)
3. ModulTrade solves all SMEs trade-related hassles (ModulTrade and 3rd party provides financing, payments, logistics, insurance, etc )

II.
Working Prototype is on https://modultrade.com/

III.
ModulTrade team is experienced in Trade Finance and Technology and supported by world industry leaders like Bernard Lietaer

Will be happy to answer other questions.
We will publish a Q&A soon
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October 09, 2017, 08:32:03 PM
 #12

Hi guys. Just bumped into your ICO by a reference.
So are you building something like cryptocurrency eBay?
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October 09, 2017, 11:21:03 PM
 #13

Hi guys. Just bumped into your ICO by a reference.
So are you building something like cryptocurrency eBay?



All,

I am Karthik - one of the ModulTrade founders (CTO).


Thanks Pjames for a great question. EBay-Magento is a good comparison as far as our marketplace is concerned but we also offer banking/finances and other trading services like logistics, taxation etc to complete the transaction. We are a complete end-end platform for global trade.
 

As many of them might not be aware of the complexity of global trade, I thought I'll give a brief introduction to ModulTrade, Trade finance and blockchain so we can have a lively discussion.The entire team is committed to answering / clarifying all your questions and doubts. Please fire away. I also encourage everyone to try out our prototype which is available in modultrade.com

Regards
Karthik


Modultrade democratizes Trade Finance

Trade finance is the process, by which importers and exporters mitigate trade risk through the use of financial institutions that serve as trusted intermediaries. These intermediaries provide assurance to sellers (in the event the buyer doesn’t pay) and contract certainty to buyers (in the event that goods are not received).

Payment and delivery terms are documented in a letter of credit (LC), and the financial institutions delivering this LC receive fees for assuming risks, as well as for documentation and oversight of payment terms.  Due to the nature of global deals (distance, differing local laws, withholding taxes, customer knowledge) the use of LC has become a very important aspect of international trade. LCs facilitate 47% of global trade finance (circa  $2.8 trillion per year worldwide).

Yet, letter of credit is a cumbersome process. Banks typically require a pledge of securities or cash as collateral for issuing a letter of credit. Banks also collect high fees for service, typically a percentage (ranging from 5 to 20%)  of the size of the letter of credit. The drastic criteria for a bank to issue a letter of credit, as well as the high cost of it make it difficult for small and medium enterprises (SMEs) to be included in this process . Half of SME applications are rejected, (compared to only 7% for multinational companies). “Unmet demand for trade finance is $700 billion in Asia, and $120 billion in Africa.”

ModulTrade is a platform based on blockchain smart-contract (for the automation of the letter of credit) where MSMEs can participate easily to the trade finance processes : Letter of Credit, deal financing, tax management, … etc..


ModulTrade’s Value Ecosystem (MVE) is based on MSP (multi-sided platform) , which aims to create value ​through ​the ​network ​effect ​for ​the ​following ​three ​main ​constituents:


Trade counterparties (sellers and buyers), delivering to them a platform of trust and reputation, simplicity of trade and an instrument for value exchange and trade initiation (i.e. Modultrade Coin or MTRc) . Modultrade is this global ​marketplace ​where ​trade ​services ​meet ​trade participants.

Third-party trade related service providers (e.g. supply chain providers, lawyers, tax officers, financial institutions and fintechs, ...etc.). These providers meet on modultrade open platform to contribute to the trade service of counterparties.

Third-party ​trade ​software developers, delivering trade solutions on top of MTRc functionality.

At Modultrade, we use the three key features of blockchain to simplify trade finance:

(1) cryptographic security, allowing parties involved in trade to collaborate easily and cost efficiently,
(2) distributed ledger and network allowing transparency, traceability and global footprint 
(3) consensus mechanism providing trust among the deal participants:

Together, these features provide the foundation for building a new generation of a “democratic”, trustful and efficient trade finance system. In this new hassle free system, SMEs, which are the main components of local modern trade, can expand and  take part in global trade.
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October 10, 2017, 08:03:06 AM
 #14

I’m still scratching my head trying to figure out why a Blockchain is needed for SMEs?

And I think the business problem doesn’t really exist, isn’t significant enough and cannot be solved by a Blockchain. Though you try to make it sound like you do with lots of technical Jargon!

The market size is truly as big as the ICO claims and that the solution is possible. Evidence please?
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October 10, 2017, 08:30:55 AM
 #15

I like the idea! Global trade has a huge potential for small businesses but it’s often too costly. A smart-contract platform could do the job.
Also, small businesses already into global trade are probably just the tip of the iceberg: think about the 2.3Bn people globally who are currently unbanked and who could be included in global trade..
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October 10, 2017, 09:35:54 AM
 #16

I like the idea! Global trade has a huge potential for small businesses but it’s often too costly. A smart-contract platform could do the job.
Also, small businesses already into global trade are probably just the tip of the iceberg: think about the 2.3Bn people globally who are currently unbanked and who could be included in global trade..

I do agree - pretty clear the market is here!
 hope the team will show up and provide more explanation on the technology part here
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October 10, 2017, 09:40:33 AM
 #17

I’m still scratching my head trying to figure out why a Blockchain is needed for SMEs?

And I think the business problem doesn’t really exist, isn’t significant enough and cannot be solved by a Blockchain. Though you try to make it sound like you do with lots of technical Jargon!

The market size is truly as big as the ICO claims and that the solution is possible. Evidence please?


Hi,
Thank you for challenging!

1. Is there a Problem?
the only way for millions of SMEs to survive and compete in the current world is to be involved into Global value chains (you may find more in the WORLD BANK 2016 report  https://www.wto.org/english/res_e/booksp_e/world_trade_report16_e.pdf)
So there is a need from over 400mln SMEs to start trade globally.

Before such solutions were simply impossible due to the size of SMEs. Banks simply did not want or were not able to help them. 56% of SMEs trade finance proposals are rejected by banks, compared to only 7% for multinational corporations. https://www.worldbank.org/en/topic/financialsector/brief/smes-finance

2. How can Blockchain help?

the thing is that Smart-contract is a natural replication of such banks' instrument like Letter of Credit or Guarantee. in short, before Banks guaranteed that Buyer will pay if Seller will ship the goods and banks charged 5-15%. Now, smart-contract can execute the same function at almost zero costs and there is no middleman (bank). for more detials you may check animation in the product section on our Project site https://modultrade.com/

3. Why ModulTrade?
Our team came from the Industry (including Tade Finance and transaction banking) and kind of creating a user interface for smart-contracts on blockchain that SMEs can use. and also integrating related services which SMEs need - to have end-to-end user experience in B2B trade (marketplace to meet, logistics, financing, payments, etc to execute the trade)

We deliver all in one solution to enable SMEs to trade globally and the core is a smart-contract on the blockchain.

Happy to answer further questions

Best!
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October 10, 2017, 09:48:44 AM
 #18

I’m still scratching my head trying to figure out why a Blockchain is needed for SMEs?

And I think the business problem doesn’t really exist, isn’t significant enough and cannot be solved by a Blockchain. Though you try to make it sound like you do with lots of technical Jargon!

The market size is truly as big as the ICO claims and that the solution is possible. Evidence please?


Hi,
Thank you for challenging!

1. Is there a Problem?
the only way for millions of SMEs to survive and compete in the current world is to be involved into Global value chains (you may find more in the WORLD BANK 2016 report  https://www.wto.org/english/res_e/booksp_e/world_trade_report16_e.pdf)
So there is a need from over 400mln SMEs to start trade globally.

Before such solutions were simply impossible due to the size of SMEs. Banks simply did not want or were not able to help them. 56% of SMEs trade finance proposals are rejected by banks, compared to only 7% for multinational corporations. https://www.worldbank.org/en/topic/financialsector/brief/smes-finance

2. How can Blockchain help?

the thing is that Smart-contract is a natural replication of such banks' instrument like Letter of Credit or Guarantee. in short, before Banks guaranteed that Buyer will pay if Seller will ship the goods and banks charged 5-15%. Now, smart-contract can execute the same function at almost zero costs and there is no middleman (bank). for more detials you may check animation in the product section on our Project site https://modultrade.com/

3. Why ModulTrade?
Our team came from the Industry (including Tade Finance and transaction banking) and kind of creating a user interface for smart-contracts on blockchain that SMEs can use. and also integrating related services which SMEs need - to have end-to-end user experience in B2B trade (marketplace to meet, logistics, financing, payments, etc to execute the trade)

We deliver all in one solution to enable SMEs to trade globally and the core is a smart-contract on the blockchain.

Happy to answer further questions

Best!



Thanks Evgeny!

A good answer, I must say. Have you done the math to determine your total addressable Market?
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October 10, 2017, 10:21:56 AM
 #19

The project looks interesting - good job! I haven't read the whole WP yet, but your team and board od advisers look quite credible, I'll keep the track of it Smiley
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October 10, 2017, 10:29:14 AM
 #20

As far as I know, these are the estimates of the market size:
- The global e-Commerce market is worth US$7.7 trillion according to Statista.com (https://www.statista.com/study/44442/statista-report-b2b-e-commerce/ )
- 6.7 Tn by 2020 for the global B2B E-commerce market according to frost & Sullivan (http://www.frost.com/ma4e)
- The BIS Committee on the Global Financial System estimates that trade finance directly supports about one-third of global trade and that that, globally, a flow of some US$6.5–8 trillion of bank-intermediated trade finance was provided during 2011 (http://www.bis.org/publ/cgfs50.pdf)
HTH
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