INTRODUCTION
According to wikipedia, Blockchain is originally known as bloc chain, It is a growing list of records known as blocks which is linked using cryptography, each of these blocks contain a cryptographic hash of the initial block, a transaction data and a time stamp.Since its emergence in the year 2008, when Nakamoto satoshi discovered and introduced bitcoin, there has been serious efforts to integrate the blockchain technology into several aspects of various process of global business , The blockchain technology has been described as having the potential to disrupt many industries with immutability, low-cost transaction, and enhanced maximum security. So many other blockchain implementations have been deployed and developed with unique features designed to specific use-cases.The blockchain technology has made possible to issue assets through a distributed ledger framework. With cryptocurrency tokens, Assets can be given economic value in order to validate and initiate transactional processes.
ADVANTAGES OF BLOCKCHAIN:
- Decentralised payment processing,
- Creating an immutable system of recording,
- Reducing Cost of Transaction and
- Enhanced Security.
Now that we have reminded ourselves of what blockchain technology is, let's look into the subject matter.
OVERVIEW OF CATENA
Catena is a decentralized trading platform that leverages the disruptive capability of blockchain technology to transform the global trade economy. Over the last three decades, global trade has significantly increased, both in volume and revenue. Despite alleviating the living conditions of many, the sector is still faced with challenges that inhibit the realization of its full potential. These are the issues that the Catena exchange intends to solve. The Catena executive team is made of seasoned professionals with vast experience in trading, manufacturing, technology, quality inspection and so on.
Catena is built upon blockchain technology, which has created an opportunity to create new essential tools that have been missing in the trade economy thus far. These tools made by Catena will bring efficiency back into trading transactions, opening the doors for traders in ways never done before.
Catena has the tools necessary to help small traders like apple farmers spread their reach in global trade. Goods and products trading will be easier than ever before, as Catena plans to stimulate the trading economy with efficient systems and tools that are usable by anyone.
THE PROBLEM
The most significant challenge in this sector is the high prevalence of fraud. Currently, Fraud accounts to an annual loss of $4 trillion, mainly due to the vulnerability of the existing infrastructure. As a result, affected institutions are often forced into declaring bankruptcy, or in severe cases, shutting down entirely. Usually, most fraudsters create open accounts, buy goods and services, but abscond from making payments. Besides fraud, the trading industry is also inconvenienced by problems in the supply chain. Such problems include unfavorable regulations, corruption, poor transport infrastructure, delayed deliveries.
The Catena DEX & COMAI Order Matching AI Solution
The Catena trading platform will seek to eliminate the entry barriers and tackle the problems facing global trade. After providing a platform with small and medium-sized enterprises, Catena will shift focus to the provision of powerful instruments to facilitate the growth of the global trading market. While the platform’s architecture is mainly based on distributed ledger technology, it also incorporates aspects of Artificial Intelligence. Naturally, decentralized exchanges are difficult to establish due to their complexity. Nonetheless, the most notable advantage of such platforms is their independence, as they do not require a third-party service to hold investor funds. Instead, trades are facilitated directly between users suing the Catena platform. This, coupled with the immutability of the blockchain, makes transactions transparent and immune to fraud.
CATENA UNIQUE TOOLS
Efficient Trading Platform (ETP) is a tool that was created by Catena to remove the need for trust in trading transactions. With the ETP, smart contracts are selectable and can also be created from scratch by users, without the need for coding experience. This technology will allow traders like apple farmers to select a relevant contract for their specific needs in a transaction. The following options will be selectable and customizable by traders in the ETP:
- Prices
- Terms
- Quantity
- Quality
- Shipping Terms
These contracts will work with a variety of receiving traders such as: single buyers, groups of buyers, retail, and awarded logistics suppliers. Catena’s ETP differentiates it from all other current trading platforms and will be influential in the goods and products trading economy.
THE BENEFITS
- Decrease in communication barriers·
- Removal of fees paid to third parties
- Quicker transactions
- Increased reach by independent traders
- Customizable trading terms powered by the traders for each transaction
The flagship tool of the Catena platform is the Efficient Trading Platform (ETP), which was created to directly combat fraud and security problems in global trade. The ETP allows traders to select customizable smart contracts for each specific trade, without the need for knowledge in coding or advanced technology. Anyone from apple farmers to industrial equipment manufacturers will be able to select and customize contracts for each transaction seamlessly.
Elimination of the middleman and removal of deceitful trade practices has been at the foundation of Catena and has continued to be the purpose of its development. Catena will bring large amounts of growth back to global trade with its innovative systems and plans to empower traders with tools that stimulate their independence.
MARKET OVERVIEW
Over the years, trade has been a significant contributor to the growth and development of most economies worldwide. Since 2006, global merchandise exports have soared by over 32%, exceeding the $16 trillion mark last year. Similarly, commercial services exports have grown by a massive 64%, hitting the $4.8 trillion mark. Precisely, the enormous increase in global merchandise trading has been heavily influenced by manufactured goods and agricultural products. Catena believes that the introduction of new technologies will further spur this development.
ROADMAP AND DEVELOPMENT PLAN
NOTE: This article is just a guide to prospective clients, investors and every person scorching for a slice of this amazing project,You can get more information about these project with huge potential by following the link below:
Website: https://www.catenaex.com/
TokenSale: https://tokensale.catenaex.com
Whitepaper: https://s3-ap-southeast-1.amazonaws.com/whitepaper1/White+Paper.pdf
Telegram: https://t.me/CatenaChat
Twitter: https://twitter.com/CATENA_Exchange
Facebook: https://www.facebook.com/CatenaExchangePlatform/
Reddit: https://www.reddit.com/r/
Linkedin: https://www.linkedin.com/company/catena-decentralized-trading-platform/
Medium: https://medium.com/@communitycatena
Bounty0x ID: idrixoxo