Polytrade real-world impact of blockchain with Trade Finance Protocol

Since Satoshi Nakamoto invented Bitcoin in 2008, there have been many conflicting opinions. Some people love cryptocurrency, while some hate it. But what has been agreed cannot be ignored and at least not anymore. A big confidence boost for a global audience will be when blockchain starts to impact the real world and solve some of its real-world problems.

Polytrade brings secure and insured real-world assets to the crypto world. Polytrade will provide SMEs with access to low interest rates and quick financing to free up vital working capital mined from crypto lenders. While the project will begin with a focus on trade finance, it will eventually evolve into an all-in-one lending protocol for small businesses. This will have a direct impact on global trade, GDP and per capita incomes of economies.

Polytrade was born with the aim of harnessing a large amount of stablecoin liquidity and providing it to small and medium businesses that need to fund accounts receivable. With the Polytrade platform, SMEs (SMEs) using the platform will access working capital faster and cheaper with fewer KYC compliance rules. Investors (or lenders) will have access to a unique investment opportunity that is largely available to banks and financial institutions. The platform provides a high level of security to investors while allowing them to earn attractive returns.

Some of the main advantages of the Polytrade platform

Automation and ease of use

Compared to current manual processes, which are inefficient for all stakeholders, the platform automates the financing of accounts receivable and offers unprecedented ease of use.

Real-time information updates

Unlike paper invoices, which are static invoices, authorized users can update their digital invoices at any time.

Reduce the risk of manipulation and fraud

There is a serious risk of paper invoices being forged or manipulated by any individual party. However, when an invoice is placed in a smart contract, the information is decentralized and stored in a public ledger that is accessible to all parties involved. If any individual tries to change the bill, others can view and decline the request. Investors can also be confident about the authenticity of the invoice and that the buyer has not pledged the invoice to other investors.

Polytrade launched its MVP at the 2021 World Blockchain Summit in Dubai on October 13. Piyush Gupta in his keynote speech announced the MVP to an audience full of thought leaders. including Alex Mashinsky of Celsius, Dr. Marwan Al Zarouni CEO of Dubai Blockchain Center, Serguei Popov Founder of IOTA Foundation. Mainnet will be launched on January 10, 2022 at 10:10:10 hrs UTC.