ModulTrade’s Product development and Market lead Vitaly Pykhtin interviews advisor Richard Watts
Watch our interview with ModulTrade advisor, Richard Watts, founder and Managing Director of HR Maritime, as he talks about the current trade finance and supply chain finance industry, the need for the ModulTrade Platform and how the time now is right for such a solution, which enables micro, small and medium enterprises (MSMEs) to trade with freedom and trust.
In summary, the key points from the interview:
1. Present industry overview shows the massive shift in the world of trading. Trading companies are getting bigger and medium sized companies are disappearing due to lack of access to trade finance instruments.
2. 10 years ago, we didn’t have the technology to build out such a solution like ModulTrade. Now, we do and more and more companies, like Uber for example, are creating new platforms which cut out the middleman to create an easy and streamlined user experience.
3. ModulTrade has a large scope for the future while the system is ideally suited for MSMEs as it facilitates the access and the contact between buyer and the seller. The Blockchain technology solution is great as it solves the issue of trust by guaranteeing payment of goods through smart-contracts.
4. In the short run the ModulTrade Platform will be immediately demanded by ready manufactured goods traders rather than commodity.
5. The platform will give access to smaller players to participate in global trade, with traditional trading houses having to ‘share their piece of the trade pie’.
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