In the current situation, the international commodity market faces challenges in obtaining assistance from financial institutions to obtain financing for trade. Even after meeting strict economic requirements to verify due diligence on trade Finance, limited visibility and insufficient evaluation from potential financiers make the industry less likely to receive funding compared to larger players.
The Kratos project, which is designed to significantly improve this situation, is entering the international arena!
KRATOS is a decentralized trading platform for commodity trading that transforms and expands international trade in physical goods throughout the product lifecycle. The problems of commodity trading are:
- Lack of trust.
- Manual documentation.
- Unnecessary middlemen.
These problems often result in significant time delays and high costs.
The KRATOS platform created based on Ethereum will use smart contracts that are executed after pre-established conditions. Each part of the value chain will be able to use these smart contracts, which cannot be manipulated or duplicated. This reduces the likelihood of fraud and the amount of time it takes to complete a transaction.
Arkratos, a Singapore-based company linked to the trading house Rhodium Resources, is set to launch a trading platform built using blockchain technology.
What features KRATOS?
A big advantage over competitors is the presence of MVP 1.0 and in October the developers will release MVP 2.0. Arkratos launched its Kratos platform in June 2018 and is currently testing it with four traders located in Dubai, Hong Kong, Malaysia and Singapore. It will include the whole merchandise trade and the complete ecosystem including the manufacturer, broker, underwriter, delivery agent and traders.
The team reports that while there will be no lending on the original platform, the company is developing a trade Finance module through which goods can be bought and sold using trade credits issued to the Kratos system.
The goal of the ICO and its details
The existing platform was developed using seed capital, while ICO funds will be used to "further develop and improve the product. Other modules to be developed will include logistics and Finance.
Token name: TOS
Token value: 1000 TOS = 1 ETH
Total supply: 300,000,000
ICO period crowdsale: 85,000,000
Token type: Ethereum ERC-20
What is the function of the token?
On ICO, you can purchase utility tokens that can be used for platform services, such as subscription to purchase or launch a smart contract. The token will not be used to purchase goods.
Conclusion and Outlook
Currently Deutsche Bank, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Société Générale and Unicredit are participating in this project, which uses Hyperledger Fabric technology and covers 11 European countries. Kratos is an ambitious and very well designed project and its strength is in the rational solution of problems related to goods.
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