Im still scratching my head trying to figure out why a Blockchain is needed for SMEs?
And I think the business problem doesnt really exist, isnt 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-finance2. 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!