KRATOS: AN ETHEREUM-BASED PLATFORM THAT EMPLOYS BLOCKCHAIN TECHNOLOGY AND SMART CONTRACTS TO ADDRESS TRADING CHALLENGES
INTRODUCTION
Kratos is a decentralized physical commodity trading platform that is built using blockchain technology and smart contracts developed by Arkratos Blockchain Solutions.
The Kratos observed four challenges in trading commodities which include;
The insufficient trust that is the physical commodity trading process lacks transparency in terms of origin, quality and quantity of the ordered commodities as well as the shipment details. Hence, buyers cannot entirely trust their trading partners and end up involving mediators such as brokers, private investigators, and arbitrator etc.
Documentation is another challenges observed. Transactions may include a significant amount of manual administration due to discrepancies in documentation. Manual documentation is both time-taking and prone to errors. Hence, manual documentation not only leads to delays of a few weeks but also results in increased costs.
The quality assurance in trading that is physical commodities requires crucial quality assurance. But the regions in which most of the goods are manufactured commonly have very lenient supervision. Even the documents can be easily altered. Given the lack of transparency in the system, the quality assurance remains questionable in commodities trading.
The inability to secured capital also adds to the challenges. In the current market situation, SME's face challenges to seek assistance from financial institutions to obtain financing for commodity trading. Even after meeting the stringent economic requirements for trade finance due diligence check, limited visibility and insufficient evaluation from potential financiers make SME significantly less likely to receive financing relative to larger players.
KRATOS’ SOLUTION
The KRATOS platform is the solution to these trading challenges. KRATOS is a decentralized commodities trading platform, significantly transforms and enhances international physical commodity trading across its whole product life cycle. The commodity trading challenges include insufficient trust, manual documentation, and unnecessary intermediaries. These problems often result in significant time-delays and high cost. KRATOS is an Ethereum-based platform that employs Blockchain Technology and Smart Contracts to address these challenges. Consequently, KRATOS platform delivers better transparency, higher efficiency, and less complexity than any other existing system. The use of this platform would result in more timely deliveries and lower cost.
KRATOS has developed a Token Curated Registry process for trades submitted to the KRATOS platform. Trades submitted on the platform for trade finance will be curated by token holders. The output of this curation process will be a list of high-quality trades, which will represent a subset of trades that may not otherwise receive financing.
It would be difficult for others to compete with Arkratos since it already has a functional MVP and has secured commitments for the use of its platform from multiple global commodities trading firms.
THE ADVANTAGES OF KRATOS SOLUTION
The process of digitalising the current paper-based process on smart contracts reduces overhead costs and delivery time for the service operations.
Kratos is faster as it runs on smart contract and blockchain. It is also less expensive due to minimal fixed cost.
The identified listed data of high quality trades will facilitate SME’s expanding access to potential financiers. As a result, it becomes more efficient for potential financiers to vet the list of high-quality trades than to vet any potential trades coming to their attention in other ways.
Kratos provides an end to end solution for the entire commodities trading ecosystem. This platform encompasses industry grade KYC/AML, HR, Administration, Finance.
KRATOS TOKEN
This is a utility token that is built on Ethereum ERC-20 and to be used for Token Curation Registry (TCR) process
TOKEN INFORMATION
TOKEN DISTRIBUTION
FUND ALLOCATION
The Funds raised from the crowd sale token will be used in:
TEAM
They have highly experienced team.
CONCLUSION
KRATOS is a decentralized commodities trading platform, significantly transforms and enhances international physical commodity trading across its whole product life cycle. For details information about KRATOS, it is important to check their various links and channels indicated below:
Website: https://kratospct.io
Whitepaper: https://kratospct.io/pdf/KRATOS%20Whitepaper%2003072018v0.2.pdf
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