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

[ModulTrade]

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

so if i get it is similar to bank system applied to the blockchain with lower fee and it works globally,it's true I saw it right?...

Hello, bitcoinshark.
You're absolutely right.

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[niklasmato]

I like the video on their website, explaining how Modultrade works, but I would love to see another one explaining how the tax will work if you want to trade globally. Anyone can explain me how they will deal with taxes?

Taxes are mostly different per country, so I don't think ModulTrade needs to worry about that part of the product, I guess some accountant will have to have access to ModulTrade and run and extra shell on it.

[Evgeny Kaplin]

To be honest, it is the only project i saw the last weeks which is pleasent presented that my grandmo would understand it!! Simply things are often the best. I invest for shure in it

Hello!

Thank you for the nice comment! 

Indeed ModulTrade team is building a solution which helps us - people in the real world to trade with Blockchain technology.

Our WHY is "Give the Freedom to Trade"

Allow small enterprises to become equal partners in the global trade.

Thank you for being with us and your support!

[Evgeny Kaplin]

Interesting project. I would love to follow this project. I checked out your website and curious about how you will conduct a meetup . Let me know your plans. Your website is good for testing for both buyer as well as seller .

Hi!

You can check our Roadmap at https://modultrade.com/
And more details in White paper.

Our go to Market strategy is
1. to enable existing Marketplaces with ModulTrade functionality. Thus MT will onboard existing customers of Marketplaces.  We will do a pilot with our supporter - German Marketplace https://www.contorion.de/
2. to provide credit in MTRc to small enterprises so they will be able to start buying on the ModulTrade platform. more on that in Trade&Reputational Network concept in WP
MTRc holders will be able to finance trade transactions based on users Reputational Capital

[Evgeny Kaplin]

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

so if i get it is similar to bank system applied to the blockchain with lower fee and it works globally,it's true I saw it right?...

Hello!
you are right - ModulTrade offers bank's instruments for B2B trade service (Letter of credit, Guarantee) without a bank and its high charges

[the_donald]

So will there be a fee involved when creating an product offer / smart contract. If yes, how high will be the fee.
Also what happens if a product gets stuck/lost on the mailing route?

I'm guessing it's going to be a percentage of the cost of the product. that makes sense when talking about scaling the process.

[FIEX]

Great Telegram channel:
https://t.me/modultrade

All the announcement are posted here, this is not a chat room to only things that matter for this project!
Join there Telegram to get all the lastest news about this great project.

Great work you guys are doing!

[tiger5056]

https://www.youtube.com/watch?v=Q0djsrlGuCk&feature=youtu.be check this interview with CEO of ModulTrade. Nicely explained.

[VitalyP]

Will there be insurance to the trade? What if something goes wrong to the trade? Non deliveries, etc.

Will ModulTrade do security checks to the traders for its legitimacy to do its business? And also to the end users part.

Hello, T-Gee05.
Irrespective of payment terms, naturally, the risks of loss, damage and theft may occur and covered by adequate insurance which is usually arranged by the seller.
Hence any trade proposes insurance where goods delivery is involved. MT will connect 3rd party service providers such as logistics, insurance, inspection etc. to enhance customer experience and insure the value proposition.
The cases of wrongdoing or non-delivery will trigger a smart-contract and the payment as well. No goods - no money!

No doubt, MTP will conduct verification of trading parties in order to ensure the greatest customer experience and minimise counterparty risk.
As far as the buying party is concerned, the smart-contract allows to trigger the payment and release without the seller's authorisation once it's signed.
Hope that clarifies.

Stay tuned!

[Sozialtourist]

Great Telegram channel:
https://t.me/modultrade

All the announcement are posted here, this is not a chat room to only things that matter for this project!
Join there Telegram to get all the lastest news about this great project.

Great work you guys are doing!

Yes, I would recommend anyone to join their Telegram to keep updated constantly. For example they just published a post on medium where they explain their MVP:

https://medium.com/@ModulTrade/explaining-modultrades-minimum-viable-product-the-platform-1a888e3a4d91

[Rigorous]

To be honest, it is the only project i saw the last weeks which is pleasent presented that my grandmo would understand it!! Simply things are often the best. I invest for shure in it

Wow... she knows what terms like "Digital​ ​Thread​ ​for​ ​Additive​ ​Manufacturing​" and ​"IoT​ ​solution​ ​for​ ​invoice​ ​factoring​ on​​ MTP" mean?

Does she happen to be an importer/exporter?

[bapparabi]

i read this project whitepaper and saw social media, blogs etc. i really liked this project i would like to part of this project. whats ICO date or pre ICO date?

 if you see the detail pre ico already started at very high bonus you can optin now to get more token and mid November the ico will start ..

[Evgeny Kaplin]

I believe that credible companies, grow their presence organically. Using other methods is devious and technically a scam.

  With that said, I will like to inform that MODULTRADE is using a paid slack group to bolster up their thread count. 85% of the post on this thread is made by the Airdroptastic slack group Their members are paid in tokens to show interest in an ICO, and they usually disappear soon as the ICO is complete.
 This paid members create a fake interest in an ICO to lures in investors, I personally view that as a scam and should be addressed.
 
  So, i have decided to fight them at their own battle. Since they cheat to stay on top, i will make sure this post is present on every page until the ICO is complete.
I BELIEVE ITS ONLY FAIR TO A PROSPECTIVE INVESTOR.

Hi!

ModulTrade has community managers who ask questions about the project and I can assure you that all answers we give here are true.

If you want we can set up a call so you can see that we really do what we believe in.

We will make a team interview this weekend to have a better picture of who we are.

Hope for your understanding and cooperation.

[karkal]

So the demo/prototype already looks really far along, really big plus in my opinion. Not just a white paper project, but already quite far with the development.

What does worry me when i think about this global trade is current taxation and import laws that differ per country. Anybody know how this will be handled? I couldn't find it in the Whitepaper, maybe i missed it.

I did not see it there, either. And yet it is important how to confirm your purchase costs in order to deduct them from taxable profits.

I guess it will be good to have an official answer from one of the team. If I had to try answering the question, it would be that there are easy/simple ways to address the taxes issue and that these will have to be implemented on a country-by-country basis on the Modul platform. (Which might be why the launch of the platform in different geographic regions is being done in stages).

Thanks Helloal. There will be taxation specific modules either by us (or) by 3rd party providers similar to logistics which will offer these services on the platform. Doing Implementation country by country helps us produce better network effect as well as provide those additional services that are required to complete the trade.

[karkal]

i read this project whitepaper and saw social media, blogs etc. i really liked this project i would like to part of this project. whats ICO date or pre ICO date?

Pre-ICO with 40% discount is currently running. Please refer https://modultrade.io/ for further details.

[karkal]

Could ModulTrade be considered an escrow service for business transactions? Something like Alipay, but not for consumers but businesses?

I believe all trades whether it is B2C , B2B, B2T etc will be smart contract enabled in the near future. Today B2C is run by centralized organizations under their rules and one dimensional and customers have no choice. B2B trade is done by a contract negotiated over a longer period of time with a lot of cost involved. EXIM trade has more complications with big banks playing as guarantors. In future IOT will transform how trade is being conducted between businesses , machines and customers. Evolution of Smart contract along with the underlying blockchain technology will provide a mechanism to effectively handle the nuances of each of these type of trades in the near future.

MT offers end-end platform including taxation, logistics etc apart from the escrow capability as part of the smart contract.

[karkal]

Could ModulTrade be considered an escrow service for business transactions? Something like Alipay, but not for consumers but businesses?

I believe all trades whether it is B2C , B2B, B2T etc will be smart contract enabled in the near future. Today B2C is run by centralized organizations under their rules and one dimensional and customers have no choice. B2B trade is done by a contract negotiated over a longer period of time with a lot of cost involved. EXIM trade has more complications with big banks playing as guarantors. In future IOT will transform how trade is being conducted between businesses , machines and customers. Evolution of Smart contract along with the underlying blockchain technology will provide a mechanism to effectively handle the nuances of each of these type of trades in the near future.

MT offers end-end platform including taxation, logistics etc apart from the escrow capability as part of the smart contract.

You make some good points there that I had not thought about. So ModulTrade is trying to replace Alibaba, Alipay and AliExpress by making them decentralized, blockchain-based and bound by smart contracts. That is a lofty goal but it is going to be an uphill battle trying to dethrone the biggest companies in the world.

What I'm saying is future of trade is smart contract enabled, not necessarily by MT alone. Currently we are busy trying to solve the most complex trade(EXIM). For now, our objective is enabling small businesses to do global trade effectively and efficiently.

[Yasemin]

Will there be insurance to the trade? What if something goes wrong to the trade? Non deliveries, etc.

Will ModulTrade do security checks to the traders for its legitimacy to do its business? And also to the end users part.

I looked for some answers on the website of Modultrade, if you look at the following simple explanation of smart contract trading, you would think the trade cant go wrong.

STAGE I
Buyer and Seller set a Smart-contract
Buyer deposits funds with the Smart-contract
STAGE II
Seller ships goods once sees the funds locked by the smart-contract
Smart-contract is tracking goods delivery
STAGE III
Upon the goods are delivered Smart-contract releases funds to the Buyer

But yeah, what if during transport the product is damaged, then there must be some kind of insurance involved

[VitalyP]

Will there be insurance to the trade? What if something goes wrong to the trade? Non deliveries, etc.

Will ModulTrade do security checks to the traders for its legitimacy to do its business? And also to the end users part.

I looked for some answers on the website of Modultrade, if you look at the following simple explanation of smart contract trading, you would think the trade cant go wrong.

STAGE I
Buyer and Seller set a Smart-contract
Buyer deposits funds with the Smart-contract
STAGE II
Seller ships goods once sees the funds locked by the smart-contract
Smart-contract is tracking goods delivery
STAGE III
Upon the goods are delivered Smart-contract releases funds to the Buyer

But yeah, what if during transport the product is damaged, then there must be some kind of insurance involved

I'm sure that as normal trading, insurance will be used for delivery. But who will pay for Insurance fee? Can enterprise use Modul tokens to pay for insurance?

The seller usually handles the transportation insurance. not sure if MT needs to get involved there.

Hello, boys and girls.
As a practice, transportation charges and insurance are born by the seller who arranges the delivery.
Hence insurance fee is payable by the seller.
ModulTrade ecosystem encompasses trade-related services and will provide multiple options for insurance, inspection, delivery and etc. Therefore, should the buyer have any discomfort in terms of insurance, he may always request to consider his/her choice. And that has to be decided between the parties. And of course, Insurance charges can use MT tokens to pay for the insurance.

Stay tuned for more news and have a great day ahead!

[VitalyP]

What makes me thinking that this project will be successful is that they already have a minimal viable product. There are very much token sales out there which want to raise so much money without even having a working product in beta or alpha stage.

Most of ICOs have only idea and ModulTrade has prototype. It's definitely good incentive to invest here 

Yep. It's going to be a game-changer for the entire industry while the project addresses the issues from the real world of trade.