This revolutionary test was carried out by a dedicated team of experts in blockchain, logistics, supply chain management, and finance. Thus, leaving an untapped market of unfulfilled credit demand estimated at $1.6 trillion," says ConsolFreight's CEO, Ernesto Vila. They have drawn a very distinctive line between Logistics and Financial institutions, where the value of the assets is entirely disconnected from the process. "Banks are short-sighted in determining and validating the value of the goods being financed. Decreased paperwork and institutional bureaucracy.Optimized operational liquidity for exporters and importers.Risk mitigation and redistribution along the Supply Chain.Streamline data exchange between the multiple parties.This model, where the freight forwarders are the centerpiece, brings the following benefits: Trade Forward is a new business model of collaboration amongst insurance companies, financial institutions, and logistics providers. The Proof of Concept aims to provide liquidity, create new revenue streams, and ultimately advance the role of freight forwarders in the Supply Chain. It also included the collaboration of key organizations such as EOS Dublin using EOSIO blockchain technology, the Florida Blockchain Foundation, and Anova Marine, which provided insurance coverage to the transported cargo. The ambitious project has the support of Telefonica, who provided connectivity through Kite, their IoT connectivity platform. ConsolFreight released its new Proof of Concept report "Trade Forward" at the IoT Solutions World Congress in Barcelona.
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January 2023
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