The world of global trade is about to witness a significant transformation, thanks to ModulTrade, a smart-contract blockchain-based trade ecosystem, and its innovative MTRC token. This promising project seems set to empower small and medium-sized enterprises (SMEs) by making global trade more accessible, efficient, and cost-effective.
What is ModulTrade About?
ModulTrade is on a mission to bring about a seismic shift in the way global trade operates. The project’s primary goal is to include micro, small, and medium businesses worldwide in the global trade network. Moreover, it will offer them an easier, trustful, and more efficient means of conducting international transactions. By embracing the power of smart contracts and blockchain technology, ModulTrade aims to lower costs for SMEs while boosting their revenues.
Rethinking Global Trade
The company also envisions an open ecosystem where traders, service providers (logistics, insurance, tax, etc.), and third-party developers come together to serve businesses. This platform enables businesses to meet trade counterparties and establish trade agreements. In addition, users will be able to execute global transactions in a depersonalized and cost-effective manner. The result is a streamlined and efficient approach to global trade that leverages the potential of blockchain technology.
Introducing the MTRC Token
A key component of the ModulTrade ecosystem is the MTRC token. The latter is an ERC-20 Ethereum-based cryptocurrency designed to complement global trade. With the MTRC token, businesses with a smartphone can access global trade. Besides, service providers can offer their solutions on the ModulTrade platform, and software developers can build applications on top of the platform. This all-encompassing approach is poised to revolutionize the world of global trade.
Furthermore, the MTRC token serves multiple purposes within the ModulTrade ecosystem. Customers can use it for purchasing products and services on the platform, along with other traditional currencies.
Why ModulTrade and the MTRC Token?
The current trade finance system proves to be inefficient and favours large corporations, leaving SMEs with prohibitive costs. As a result, 56% of SME trade finance proposals get rejection. ModulTrade aims to address this imbalance by empowering small businesses with the benefits of smart contracts. These contracts can replicate instruments like the Letter of Credit at a significantly lower cost, eliminating the need for SMEs to rely on banks for such guarantees.
Beyond empowering small businesses, ModulTrade also seeks to streamline global trade processes. The MTRC token plays a pivotal role in making global trade more accessible and facilitating the development of new fintech solutions due to its utilities.
Features of the Ecosystem
ModulTrade’s Multi-sided Value Ecosystem (MVE) aspires to connect global trade participants through four key components:
- Blockchain-based Smart-contract multi-sided platform (MTP): This platform replicates trade finance instruments like Letters of Credit and Guarantees, offering MVE participants these services in a cost-effective manner.
- Trade-related services platform: It simplifies trade execution by utilizing third-party service providers for payments, logistics, financing, tax, and bookkeeping.
- Trade & Reputation network: This network facilitates monetary transactions within the MVE participants.
- Marketplaces: These marketplaces help participants find reliable global counterparties and make optimal choices in terms of goods and prices.
All in all, the ModulTrade ICO and the MTRC token have the potential to make a profound impact on the world of global trade. Small and medium-sized businesses will finally have the opportunity to participate in international trade, thanks to this platform. The ModulTrade’s high-ranking ICO will be available soon.