In early October, ModulTrade embarked on their token sale journey, with ambitions of growing a community of supporters to help reach their project goals in revolutionizing global trade. The London based company have already lifted the lid on trade finance, with a token sale progressing well and the launch of their fully functioning product. Here we look back on the project and how ModulTrade has reached impressive results to date. Bringing a breath of fresh optimism and promise to MSMEs (micro, small and medium enterprises), ModulTrade set out to democratize global trade by connecting businesses from around the world, allowing them to meet, commit and execute trade safely and securely, all on one digital marketplace.
Globally, there is an estimate 400mln MSMEs, and a staggering 56% of such businesses trade finance proposals are being rejected by traditional institutions. They also face other barriers limiting their opportunity to trade across countries, such as lack of trust and transparency between the buyer and seller. See the ModulTrade white paper.
By tapping into the heart of blockchain technology, the ModulTrade team has created the beginnings of a new age in digital trading, and it’s an exciting position to be in. A smart-contract based platform, the ModulTrade Value Eco-system replicates traditional tools, such as letters of credit and bank guarantees, but at a much lower cost to the user and all at the touch of a button, via smartphones or desktops. The blockchain based platform opens the trade doors wide, providing new opportunities to enterprises and offering them a leverage into the same playing field as bigger corporations.
The team at ModulTrade find themselves in a unique place as one of the first to not only identify the benefits of blockchain technology when applied to global trade but to implement and take an idea on paper forwards to the public. The ModulTrade Platform (MTP) launched a few weeks ago, providing a fully functioning online marketplace, where MSMEs can now trade in real-time. The MTP has seen trade executed globally, and most notably the first blockchain based full trade cycle was executed from China, with the successful delivery of goods to Russia. The ModulTrade team prides themselves on being able to support the economy and the ‘One Belt One Road Initiative’.
Combining the development of the MTP with the launch of the new ModulTrade crypto token (MTRc) provides the golden key to buy and exchange directly within the platform. Architected on Ethereum and complying with the widely-accepted ERC-20 token standard, users of ModulTrade can exchange value in real-time. MTRc is also compatible with all ether wallets and can be easily added to common crypto-exchanges for trading. It is this method of the transaction which points further towards the innovative development of the product and its functionalities. By using the MTRc within the MTP, allows the team to predict an increase in the value of the MTRc token, due to the potential number of users.
The ModulTrade pre-sale launched on 3rd October, with a steady growth in participants who have bought into this sound project. The launch of their MTP saw a huge increase in interested parties, and as such, one of the catalysts in helping them reach their soft cap of 5mln MTRc. Since, they have opened their main sale offering at set periods of time considerable discounts to early participants, encouraging further contributions. Just recently, the company reached a significant milestone in the project of reaching 1000 secure wallets.
Borne from the minds of four MIT graduates, the ModulTrade team hold on average 20 years’ experience in financial trade systems, management, and technology. They have been blessed with the backing of several high-profile experts who have joined their advisory board, including currency system specialist Bernard Lietaer. The volume of support is a true testament to their product, proposition, and passion, and their following keeps on growing.
During the token sale, the ModulTrade team has embarked on a serious marketing campaign, participating in blockchain conferences, attending incubator programmes and pitching directly to investors. The team are true to their product aims of having global reach, and have expanded their team with experts based around the world. Sentiment towards ModulTrade has been highly positive, from users of the MTP, industry peers, journalists, and the crypto-community. The team has also achieved excellent scores on ICO rating groups and listings, conducted by independent experts within the industry.
As the main token sale continues into January 2018, the team are on a trajectory that does not look to falter. There are several developments to come to further enhance the MTP, such as more translations, and partnerships with MSMEs in key markets. This is only the beginning to what is predicted to be a successful token sale, which should be applauded for rising above others, gathering the crypto- community together and providing a solution to a current problem. The ModulTrade product sends out a message that is loud and clear, offering transformation, opportunity, and a welcome change to revolutionize how the world trades and will continue to excel.
15% discount on the ModulTrade sale ends on 26th December 2017. The main sale ends on 27th January 2018.