Seeking Collaborators to Disrupt Global Trade Financing via Blockchain

Background

GeTS support the digital logistics space for Small & Medium Enterprises (SMEs) and Freight Forwarders (FFs). We aim to cover the purchasing and financing segment of the supply chain, and automate this segment with blockchain.

Why blockchain? Blockchain may be viewed as a secondary source of funds. It is decentralized, transparent, and it has smart contracts to enable auto-disbursements. Global trade financing is a wide and massive market, however it is highly dependent on human intervention and is not yet technologically advanced. It is not uncommon to find a long wait of customers often encountering rejection or no-response. It is largely a traditional industry, held back by slow and manual processes.

 

Requirements

We currently have a cloud-based machine-learning AI financing platform CALISTA, that enables automated financing, payment, and remittance. It handles ‘Know Your Customer’ (KYC) and audit checks and assessment of company credit applications, for fund disbursement. This includes a blockchain-enabled web and mobile application on Android and iOS, for trade financing. This application uses blockchain to prove ownership in the pledging of assets as collateral. The platform is implementing IMDA’s TradeTrust which is a framework that facilitates the interoperability of electronic trade documents exchanged between different digital ecosystems.

We are seeking collaborators to improve upon our current Blockchain solution,

The proposed technology should be compatible with IMDA’s TradeTrust framework and technology.

Minimum Required Technology Readiness Level (TRL)

Level 7

 

Desired Outcome

We expect this solution to be the first of its kind in the logistics space.

Speed to market is greatly reduced while uses enjoy similar low interest rates by banks.

We foresee the industry pivoting to this convenient, trustable, and entirely paperless process.

 

Development Timeframe

2 months, by End Jul 2020.

 

 

Further Details

Further details of the challenge statement may be found at the Briefings Page, in the form of video recordings of the virtual briefing sessions, Q&A transcripts and presentation slides if available.

 

 

Instructions on Submitting Proposals

Download the proposal submission form in Microsoft Word format at the 'Attachment' section of the Challenge Statement Listing Page and fill in the details of your project proposal. You can then proceed to the proposal submission page by logging in and clicking the 'Submit Proposal' button on the right side of this page, where you will have to fill in the form fields and attach the filled Microsoft Word project submission form before submitting. Do also upload supporting documents/files that may support your proposal.

 

Challenge

TCC Enterprise

Organisation

GeTS Asia Pte Ltd

Themes

Blockchain

Proposal submissions are open from 22 Jul 2020 to 29 Sep 2020