We chose blockchain as the underlying technology for our products as it offers a number of additional dimensions to the trade finance business execution requirements. Firstly, it allows the commodity owners to share their stock information with their counterparts in a unique, private and fully secure way. This replaces the old e-mail based information exchange where spreadsheets were the communication system of choice. It allows the interacting parties to store information on a private distributed ledger in a manner which prevents the non-participating parties to view or understand information. It allows information access using a unique private key for the parties involved in the trade. Secondly, blockchain based smart contracts allow the owners to securely transfer ownership of their digital assets and execute settlements according to the contract rules agreed upfront and when all commercial conditions are met. In essence blockchain allows parties to share information exclusively and execute business under the conditions of the contracts in a trusted and fully secured privately owned space.
We see a lot of blockchain startups limiting themselves to proof of concept activities. This is primarily because they do not have the in-depth understanding of the business domain which is necessary for a commercial production grade application. We believe that rather than starting with a very broad based use case, i.e. trade finance or payments we would rather like to focus on a very specific situation. The founders of Satoshi Systems have a collective experience of almost 50 years in setting up commodity inventory finance operations and we believe that in this area smart software solutions are urgently required. Our investors also understand the business case and have trusted us to develop and succeed with this solution before taking it further to address the improvements in the trade finance arena.
Our solution applies to any size company participating in the in trade or commodity financing process. These include but are not limited to: commodity trading houses, trade or commodity banks, and financial institutions assisting in commodity finance business, warehouse owners and/or operators storing or owning commodities, custodians, farmers, commodity origination and trade firms, raw material producers, mine owners, alternative investment hedge funds, sovereign or pension funds, government agencies, freight and logistics providers, insurance agencies, brokers, underwriters, exchanges, manufacturers, commodity testing or certification agencies.
Our solutions have several interesting features. Our internal policy does restrict to disclosing product details to professional counterparties. Also copyright rules prevent us from sharing this information. Should if be interested to know more about our solutions, please feel most welcome to approach us with a demonstration request. We’d be glad to offer you a detailed presentation.
We understand. We would be happy to introduce you to our team of professionals from the commodity trading industry. Our partner firms have been providing high quality software as well as consulting services to some very prestigious companies for the past decades. Additionally, we received sufficient working capital from private investors to continuously refine and improve the offered solutions. We would be glad to provide you with some references uppon request.s
Yes, indeed we are always open to collaborate and innovate in this space. The current ways of executing trade finance transactions will soon render obsolete. Technology offers multiple ways of simplifying this process and we would be glad to partner up address any specific improvements you might have. We are in the process of engaging with several large commodity trading houses, trade and commodity financing banks, as well as warehouse operators and insurance services providers. As we go along we are making sure that our solution will address to most of the specific business requirements. This is to develop and deliver a generic product with global reach and easy customization for any particular requirements one might have. If you are interested to know more about our partnership program please don’t hesitate to contact us for more details.
Our development office is currently located in Canary Wharf. We also have a representative available for you in Europe, based in Amsterdam. From either location we can arrange a meeting. For distant travel we prefer to arrange a conferencing line to begin with. Feel free to call us or request a meeting with us.