ModulTrade launched one of the first blockchain based global trade platforms in November. The digital marketplace allows micro, small and medium enterprises (MSMEs) from anywhere in the world. Thus, to trade with freedom, on a secure and trusted network. The application of smart-contracts replicates traditional trade finance instruments such as letters of credit and bank guarantees. Since adding a layer of security and instilles trust as funds are locked in right up until goods are delivered.
In conjunction with the development of the ModulTrade Platform (MTP), the team created a new crypto currency, the MTRc – an ERC-20 based token. The MTRc can be in use for payment of products and services within the platform. As well as other currencies such as ETH compatible to be in use on the MTP. The MTRc will also be in use for charging trading and usage fees for third parties’ service and solutions. If you’re a business in need of funds, the MTRc token can be borrow, following reputational checks.
With an estimate 400mln MSMEs worldwide, and 56% of such companies trade proposals rejected by traditional institutions. The MTP provides a much needed solution to companies who want to complete a full trade successfully. However, in a trusted environment, grow their enterprises and play in the same field as larger counterparts.
As well as providing a new-found opportunity, the value of the MTRc is to increase. The growth is usually relies on the growth in number of users and the potential number of users. Since as we have outlined stands at a huge 400mln MSMEs. Of course, there needs to be a minimum level of adoption, but with the ModulTrade’s core team making every effort to on-board users, and the outstanding benefits of the MTP, it is set to be a success, and in turn the MTRc has great potential in increasing in value over the coming years.
Overall, thanks to the creation of the MTRc every business with access to a smartphone or desktop will be able to operate global trade (trade enabler), every service provider will be able to offer their services on MTP (service enabler) and every software developer will be able to build their applications on the top of MTP (3rd party application enabler).
In the future, the introduction of MTRc into the digital currency world will make it easier to trade, minimise costs and increase efficiencies. Further fintech solutions will benefit from this new token, as well as from the technology built to power the MTP. Developers will benefit from leveraging on the existing infrastructure, rather than spend time and money to develop their own eco-system.
Together, the MTP and MTRc, solve the current global trade problems such as lack of trust and rejected trade proposals, by offering real-time global trade on a digital network, a safe and secure platform and all at a much lower cost to the user.
Visit https://modultrade.io/ to use the MTP and join in our sale.
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