Shipper, forwarders easily check data and issue B/L based on information that cannot be modified or hidden on nodes. *B/L will also be issued in NFT form when NFT based on BSC ecosystem is activated.
Easy and fast transactions
The L/C of existing trade transactions is based on paper documents and has a lot of consumption and inefficiency, but digitize the L/C through TRADETOKEN™ blockchain trade finance system and simplify the payment time and time required to prepare and verify documents, efficient and prompt transactions will be possible. TRADEPAY™ Dapp can help trade transactions be safer and faster than before while reducing transaction fees very innovatively.
Stakeholders participating in actual trade transactions have the authority to approve. This enables secure and fast transactions. If it is confirmed that there is a problem with the transaction, the approval of all stakeholders for the transaction will not be made, preventing remittance problems. It is safer than the existing L/C because stakeholders participating in actual transactions, not banks, have the authority to approve the remittance. And L/C is not available to most companies because of the high barriers to entry. However, TRADE PAY can be used by everyone.
InsurTech System (TRADE Insurance Policy)
Trade tokens aim for completely decentralized trade finance. Therefore, the insurance company’s business is replaced through insurtech. And the insurance fund is funded by the Raising Insurance Fund Mechanism of TRADESWAP.
If insurance payment is required, the insurance amount is automatically calculated by extracting numerical parts from various information such as the insured’s claim, invoice, B/L, carrier and customs office opinions etc.