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Author Topic: Arkratos Introduces Blockchain Solution for Physical Commodities Trading  (Read 61 times)
Arkratos
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March 07, 2018, 07:34:01 AM
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KRATOS platform ensures flawless transparency in commodities trading


While the fields of finance and logistics have seen a great rush in digitalization with cashless/ digital payments, retail banking, RFIDs, etc., commodity trading industry has been lagging behind. Many technology companies, trading firms and banks are now seeking to revolutionize the industry by replacing the tedious documentation process with smart contracts using blockchain technology.
Blockchain technology, which is still clouded with whitepapers and ideation, has only a few actual products in the market. Arkratos Blockchain Solutions has jumped ahead in the race with their already functional platform KRATOS -  A decentralized commodities trading platform, based on Ethereum ERC-20.
The platform KRATOS covers the entire physical commodity trading ecosystem, from origination to end user. The platform digitizes paper contracts and transforms them into smart contracts - contracts that self-execute if certain conditions are met. For example, once a delivery and payment are made, a smart contract will archive itself as a completed contract, streamlining documentation. Importantly, the platform is modular, allowing the execution of some modules (a set of related smart contracts) but not others. KRATOS has many modules within the platform. For example, in the trading module, users will be able to consummate a trade between the various parties including logistics.
According to Arkratos’ founder, Mr. Srinivas Koneru, “Multi-trillion commodities trading industry suffers from challenges of quality assurance due to immense number of intermediaries and significant delays due to manual documentation process. Since banks are very selective while proving funding, delays in potential documentation and quality control issues cause traders to incur significant financial losses.
Our blockchain-based platform, KRATOS, ensures higher transparency, higher efficiency and less complexity, all of which will result in timely deliveries and significantly lower costs. All parties involved in the commodities transaction will be able to trace the commodity from point of origin to the point of final delivery including all the processes in between. This concept protects buyers and sellers, traders, banks, insurance agents and shippers from the type of fraud & scandals seen in the international commodities trading processes.”
Developed with real time insights from traders and recommendations from several experienced and prominent members of the physical commodities industry, KRATOS already has over 10 clients as early adopters from Singapore, Malaysia, Hong Kong & UAE.
KRATOS is promising to take on the decade old challenges - A New ecosystem to solve old problems.

Arkratos Blockchain Solutions
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