[ANN][PRE-ICO] 🚀🚀 ModulTrade : The Freedom To Trade 🚀🚀

[VitalyP]

this project looks very interesting, if I correctly understood ModulTrade already has beta prototype?
I'll start reading whitepaper, and subscribe to updates in this theme!

You are right, ParRus. We do have a prototype at product.modultrade.com. This is to demo the concept, the scope and the UI.
We are working now on transforming into a production-ready MVP and you will hear more about it soon.
You may easily access our WP right here: modultrade.io
Stay tuned!

[ArtemModulTrade]

The concept of being a B2B marketplace is very interesting.
Will customers be able to do trading with fiat only and no crypto ?

Yes, customers can trade in fiat (this one of the first features we implement) while always pay the fee and in MTRc.
They also can trade in cryptocurrencies including MTRc.
MTRc will be trade on exchanges and also ModulTrade will buy MTRc back from Merchants.

[Yasemin]

In this link it is explained why smart contract is important. I found it very interesting, how did we survive before?
The philosophy of ModulTrade: what does the smart-contract mean for us and why will it be irreplaceable for small enterprises?
https://medium.com/@ModulTrade/the-philosophy-of-modultrade-what-does-the-smart-contract-mean-for-us-and-why-will-it-be-b21846fff277

[FIEX]

What will happen to unsold tokens which have not been sold during the ico phase?

Will those tokens be burned?

This is correct Drokzid. Unsold tokens will be destroyed.

why would they burned the tokens? If they can give all the tokens to all participants , that will be great instead of destroying the tokens.

Burning unsold tokens is just fair for all investors. It will help to keep up the value of the tokens.

Why not just create the tokens as soon as the ICO end so no need to burn unsold coins. That'll be better in my opinion!

Every ICO is different.
Some ICO's mint the tokens after crowdsale, some mint the tokens before and burn not sold tokens...

Some people can wait for the tokens until the end of the ICO
Some people want the tokens right away in there wallet

Its not possible to do good for everyone. Its the dissision devs make when they are preparing the pre- and crowdsale.
I dont mind waiting for my tokens

[ParRus]

this project was submitted on Blockchain Solutions Forum - Barcelona
found short video from this event:
https://www.youtube.com/watch?v=xNfobE8e8H0

[Evgeny Kaplin]

How much raised in pre-sale please?

Hi!

we have commitments for over 30% MTRc reserved for Pre-sale

and we may decrease discounts for Pre-sale soon

[Evgeny Kaplin]

The concept of being a B2B marketplace is very interesting.
Will customers be able to do trading with fiat only and no crypto ?

Yes, customers can trade in fiat (this one of the first features we implement) while always pay the fee and in MTRc.
They also can trade in cryptocurrencies including MTRc.
MTRc will be trade on exchanges and also ModulTrade will buy MTRc back from Merchants.

How many cryptocurrencies are you going to implement? Anon coins like zec (and forks), xvg, nav, xmr? For sure btc, bch and ltc I guess

Hi!

we will start with ETH, MTRc, BTC and fiat currencies first

Fiat is very important in order to ModulTrade application is adopted by small enterprises

the next stage is to implement most popular cryptos SMEs may use for trade.

[VitalyP]

Did I understand correctly that when using your ModuleTrade platform (MTP) for a trade, you can save up to 15% of the transaction amount? The amount that is charged by banks atm. Does this only apply when the Buyer pays in ​cryptocurrency? Because in the whitepaper under Trade process it is stated that the MTP still needs a bank that reserves funds on the buyers account if he is paying in fiat.

Hello, Sozialtourist.
Let me clarify this point.
The party may pay as much as 15% of the transaction value while dealing with the bank in order to receive trade finance product such as LC (letter of credit) or BG (bank guarantee). No doubt the charges may vary from country to country and very much dependent on conditions of financing.
Hence, 15% compared to ModulTrade transaction fee which is capped at 1% of transaction value.
Hope this clarifies enough.
The parties transact in crypto in MTP. And you are right, a bank account is used as an escrow account for fiat.

[VitalyP]

With your ModulTrade Platform, what will be the difference in terms of length in time in business process against going thru regular trading system. Also, since you are bypassing all the "middle men" in trading system where the end user will be directly paying the supplier, is there a projection or study on how much saving will the end user get versus the real world trading?

Hello, T-Gee05.
the use of smart-contract proposes that business process will be inevitably T+0 vs. regular trade finance cycle that may start from T+1 upto no limit.
As compared to regular banking approach, banking fees and commissions may go beyond 10% upto 15%. However, MTP charges flat 1% from transaction volume.
Hope it will suffice!

[sockpuppet1911]

This project looks promising, but I would recommend to update and correct your whitepaper, its messed up, I don't understand some parts, while some others are ok, that would make investors think this is not a serious project.

Yes please, can just agree. Tried to read the whitepaper this morning and I can't. It's so messy at some points that you have to guess what's written there.
And I really don't have time for such guessing games lol I can imagen, that other potential investors just think the same here, because they have to invest so much more time then needed to get the whitepaper right.

Can you tell me some messy point in the white paper? I think that idea is so great. It can connect all micro, small and medium enterprises in the world, not dependent on banking hours.

In my experience this often happens when you try to use some alternative pdf maker to Adobe Acrobat, it just shows up messy with some browsers like Firefox.
But you should use Chrome or Opera, because it's definitely worth reading and explains every aspect of the whole project pretty clearly.

[tiger5056]

https://medium.com/@ModulTrade/how-will-the-modultrade-platform-connect-400mln-msmes-to-global-trade-5d2e80195a18 ModuleTrade nicely explained here.

[Drokzid]

Is there any minimal viable product available yet? I really like the idea of this project but wanna see something.

Yes, you can try their MVP prototype which can be tested here: https://product.modultrade.com/

[Voltaje]

I hope ModulTrade can manage to remove third party completely while buying specific goods. It is really annoying to see the percentage that they are taking from themselves. For smaller items it can go up to 100% or more. Thats a real issue nowadays. 

That is always an issue in traditional trading and business, the middleman is the one who gets a good percentage of any trading, and in a way, it seems fair, because the middleman acts as a trusted individual that will ensure the transaction is made and no part is a fraud, and even may refund if the worst happens, it has a reputation to maintain as someone who will ensure the safety of your funds, so in traditional trading, it was necessary, but now with the blockchain, we finally could be rid of it .

[ubercool]

Just read in the roadmap that the first three countries the platform will be operational are UK, Italy + Germany. Is there a specific reason why you haven chosen these countries?

Most of the crypto ICO's start with first world countries or major countries where crypto has been used widely from population. So I guess it was obvious to start with those countries.

[VitalyP]

Just read in the roadmap that the first three countries the platform will be operational are UK, Italy + Germany. Is there a specific reason why you haven chosen these countries?

Hello, Jay2408.
Based on the analysis of the countries, these three give the most lucrative choice to kickstart.
As an indication, there's one of the largest population of SMEs in the construction industry in selected countries.

[karkal]

As I watched from the video Modultrade offers end to end trading. Does this mean you are also be engaging physical trade end to end from small business to other?

Hi Maria,

Modultrade along with our partners in the ecosystem will provide end-end trade services(including logistics) to the participants(buyers and sellers). The smart contract will manage/track the whole progress including the payment after the trade is completed for everyone's satisfaction.

[karkal]

Just read in the roadmap that the first three countries the platform will be operational are UK, Italy + Germany. Is there a specific reason why you haven chosen these countries?

Hello, Jay2408.
Based on the analysis of the countries, these three give the most lucrative choice to kickstart.
As an indication, there's one of the largest population of SMEs in the construction industry in selected countries.

I think that there are many countries have a large population of SMEs such as China or India. Hope that in the future, this platform could be open in more countries.

Definitely, Asian countries are part of a natural expansion for our ecosystem. But starting and solidifying European markets help Asian SME's mainly China and also Indian Exporters to supply these economies.

[Voltaje]

How would the organization ensure that the importers and exporters comply with their regional and country regulations? Or would they leave that to the MSMEs?

Yes, they will leave that to MSMEs , they can't go into it, it's not their jurisdiction, the platform will help about the transactions and the use of money, but to get stuff into a country is another story, once in though, they could resume business .

[ModulTrade]

I like the team. It’s multicultural and multidisciplinary – That’s cool and it can help to deliver the project. Where is it based geographically?

Hello, harryb.
As we are working for a revolutionary, decentralized project, we are doing that in a revolutionary, decentralized way. The team is distributed on the two sides of the Ocean, in a way that top professionals can collaborate remotely, in a decentralized way, with freedom and flexibility, putting together their diverse cultures and professional backgrounds, united by a common goal: democratizing global trade.
In fact our internal ecosystem is designed for speed, agility, and adaptability, based on integration of physical and virtual environments. This, in turn creates a self-reinforcing cycle as talent creates more opportunities for growth and allows us to move faster, adapt more quickly, learn more rapidly, and embrace dynamic career demands.

[ModulTrade]

In simple words, could you tell what the aim of your project is?

Hi, omitusaf.
In simple words, ModulTrade creates the ecosystem where you can meet your client, commit on the conditions and execute a cross-border deal without going a traditional lengthy and expensive banking way.
For more details, you may consult our WP at modultrade.io.