KRATOS - Enhancing transparency, efficiency and trust across the trading ecosystem
SINGAPORE, April 12, 2018 /PRNewswire/ -- While the fields of finance and logistics have seen digitalization with cashless payments, retail banking, RFIDs, etc., commodity trading is yet to find it's moment. Many technology companies and trading firms are now seeking to revolutionize the industry by replacing documentation processes with smart contracts using blockchain technology.
Blockchain technology, still clouded with whitepapers and ideation, has had only a few actual products in the market. Arkratos Blockchain Solutions has jumped ahead in the race with their already functional product KRATOS - A decentralized commodities trading platform.
First of its kind, KRATOS captures the workflow of the entire physical commodity trading ecosystem bringing speed to the trading process. The blockchain technology creates the information block of quality when the product originates which can't be tempered throughout the journey ensuring transparency ensuring quality fraud doesn't take place. It also transforms paper contracts into smart contracts - contracts that self-execute if certain conditions are met, creating efficiencies by reducing transaction processing time. KRATOS is a modular platform with Trading, logistics, Finance, Admin, HR modules, allowing the execution of some modules but not others.
According to Arkratos' founder, Mr. Srinivas Koneru, "Multi-trillion commodities trading industry suffers from challenges of quality assurance due to immense number of intermediaries and significant delays and overhead costs due to manual documentation process. Since banks are very selective while proving funding, delays in documentation cause traders to incur significant financial losses.
Our blockchain-based platform, KRATOS, ensures higher transparency, higher efficiency and lesser complexity, which will result in timely deliveries and significantly lower costs. All parties involved in the commodities transaction will be able to trace the commodity from point of origin to the point of final delivery including all the processes in between. This concept protects buyers, sellers, traders, banks, insurance agents and shippers from various type of fraud & scandals seen in the international commodities trading processes."
Developed with real time industry insight from advisors, who are pioneers in Physical Commodity Trading ecosystem with several decades of expertise in Commodity Trading, Mining, Shipping, Logistics, Agriculture, Blockchain, Innovation and Media, KRATOS has soft commitments from 30+ partners.
KRATOS is a robust platform which is working on solving the actual challenges faced by the Physical Commodity trading industry.
Based out of Singapore, Arkratos Blockchain Solutions is a part of large holdings company which has over 100 years of collective expertise in international physical commodity trading with $2 billion consolidated revenue, $230 million paid up capital and operation in over 15 countries across Asia, Africa, and Europe.
Arkratos provides fintech solutions services on a global scale. Advent of blockchain technology prompted the company to develop its first Blockchain based product- KRATOS. The company also provides services like Blockchain Product development, Smart contracts and Whitepaper advisory.
For more information, please contact:
Mr. Srinivas Koneru, Founder
Shweta Gupta, Marketing Specialist