Trade is all about exchanging services and goods after the completion of the necessary financial transactions. There are several people engaged in any project related finance or trade and at a high level. They can be categorized as Beneficiary, Supplier, and Financier. The beneficiary is an institution or an individual who owns the project and is seeking funds for the project to procure services and goods. The supplier is a company, manufacturer, service provider or distributor that supplies either/both goods and services to a beneficiary while the financier is a company, institution or an individual who is sourcing for better project opportunities to invest the fund in order to get attractive returns or profits.
The TradeFinex platform is made specifically for Finance and Trade transactions using the XDCo1 blockchain protocol. The key features of this platform are explained below; Tradefinex platform enables different platforms to link up with each other on this marketplace without any hindrance, the platform is capable of creating legally binding digital smart contracts between shareholders over XDC blockchain, IoT integration enables the beneficiaries to make payment directly to the financiers using digital smart contracts and a host of other features.
All three major participants on the TradeFinex platform stand to benefit from their participation. For beneficiaries, the benefits include; lower costs of capital, participant incentives, and access to a global pool of funds, credible suppliers and financiers. Benefits for suppliers include; participant incentives, improved trade and cost efficiencies and expand the market for services and goods. Financiers also benefit from the platform in the following ways; real-time investment tracking, payment, and settlement, access to global investment opportunities, participant incentives and a host of others.
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