Satoshi and Primarche enter into collaboration to put the entire commodity trading and trade finance use case on blockchain

Primarche is a Kolkata based firm with deep expertise in physical commodity trading operations. Their online commodity marketplace is the only platform available today which allows the full range of procurement, sales, logistics and payment processes online. Their unique online wallet and banking interface technology allows real time payment and settlement of transactions bypassing all the delays and inefficiencies of the traditional banking system.

We have created a shared permissioned platform for use across all trading partners, including multiple buyers, sellers, banks and trading partners for greater efficiencies. Together we have analysed the workflow of ferrochrome transactions, detailing the different steps of a transaction, our interactions with the financial institutions and the documents exchanged among the various parties with the goal is to replace paper-heavy manual processes with blockchain-based workflows to improve transparency and data sharing.