▫️Trade Financing

Vagabond blockchain solutions for trade financing

The trade finance industry has emerged as a key focus area for realising the efficiencies of blockchain technology. The resulting VagaChain-based trade network is designed to improve the trade finance lending process, helping banks and financial institutions access new markets with new products, while reducing risk and streamlining cross-border trade for buyers and sellers as they grow their business and expand into new countries.

Vagabond Blockchain solutions for trade finance are built to curate new trading partnerships, uncover new liquidity pools and establish synergies between new business models and trading hubs. Distributed ledger technology, smart contracts, enhanced security, built-in decentralised governance (DAO) and extensive control capabilities for real-time access to trade finance data, all facilitated by the extensive use of Non-fungible tokens (NFTs) on the VagaChain blockchain network.

NFTs can also be thought of as digital certificates of authenticity, which includes but not limited to:

• digital representation of a contract

• certificate of origin (CO)

• letter of credit (LC)

• bill of landing (BoL)

• or any other pertinent legal document

All data is stored and verified within an immutable NFT, intrinsically linked to VagaChain $VAGA blockchain technology.

This stands to revolutionise trade finance by mitigating risk and streamlining systemic processes relating to digital assets, value chains, carbon data reporting, and most importantly allowing the seamless transfer of ownership in a reliable, transparent, and tamper-proof manner.

Why VagaChain❓

1. Data provenance is visible and verifiable by all counterparties

2. VagaChain network is leveraged to connect with similar trade finance business networks across the Vagabond ecosystem and beyond

3. Regulatory compliance guaranteed through real time auditing

4. Platform standardisation across trade finance and trade credit insurance solutions, unlocking business opportunities in new markets across the globe

5. Pre-defined on-chain protocols in tandem with NFTs allow compliant legal representation of trade documents for execution of global trade transactions

6. Letter of credits are modeled on Vagachain as self-executing contracts, mitigating business risks through bank facilitation of the trade flow and settlement process

7. Access to the largest provenance data network to assess and manage compliance status, chain of custody reporting, fraud detection, and media-rich provenance records for both objects and assets.