A Blockchain-powered product that streamlines Trade Finance operations making them more efficient – DocuTrade

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In today's era, companies find utility in Blockchain technology, as they harness Blockchain to streamline various business processes making business operations and functions more efficiently.

Let us understand how Yodaplus’s Blockchain product, DocuTrade with its digital documentation solution has made Trade Finance processes more efficient, transparent, and secure.

Powering creation of Digitised, trackable and verifiable legally compliant Trade documents

Legally bound and important digitised trade documents such as Bill of landing, Commercial Invoices, Certificate of Origin can be created with ease using DoCuTrade.

Since these digitised trade documents adhere to the Model Law on Electronic Transferable Records (MLETR), they hold the same legal validity of traditional physical trade documents.

DocuTrade simplifies the process of creating vitally important trade documents in digital format which are as mentioned MLETR compliant.

This trade document can be operated by trusted parties involved in a trade transaction to verify details and transfer document ownership as required, corresponding to the transitions that happen in the trade lifecycle.

Management of Docutrade documents by these trusted parties is possible through the Open Attestation Platform from where the Trade document can be operated to be verified and transferred.

Yodaplus DocuTrade Workflow

The entire trading lifecycle is trackable, from the time the goods purchased from the seller party are boarded into the carrier(transport vessel), till the transported goods reach the buyer, where document ownership transfer from seller to buyer can be completed using the Open Attestation Platform.

Helping SMEs to raise finances with MLET-compliant Trade Documentation vouching for their credit worthiness

DocuTrade’s MLETR documents are so reliable that Small and Medium scale enterprises (SMEs) can use these legally bound Trade documents to raise finances for scaling their business operations.

Here, SMEs can procure credit immediately as DoCuTrade’s MLERT-compliant Trade document provides a guarantee to creditors that the SME borrower has the means to pay back the loan!

Therefore, DocuTrade also strengthens the businesses of SMEs who are eligible to procure funds instantly with DoCutrade’s Trade documentation serving as secure collateral holding legal validity.

Trade Document transfer bottlenecks removed, no delays in the process!!

Trade processes are facilitated to take place seamlessly between the involved parties, with the processes of tracking, verification and transfer of document ownership happening efficiently and quickly.

Securely stored Digitised Trade Documents that are immune from damages

Being digital documents on Blockchain these vitally important documents are secure, with no fear of them getting damaged or lost during transfer processes happening during the trade lifecycle.

Protection of Data and Trade Document preventing forgery and data leakages!

At the same time, data is secured as well. The created trade document cannot be forged, as they are validated and stored on Blockchain. The documents can only be accessed and modified by trusted party representatives and not by outsiders.

This is because, trusted Blockchain validators secure the platform, approving transactions from the involved parties that are valid, and access to outsiders is denied.

Creation of Eco-friendly, legally compliant, digital Trade Documents using DocuTrade

Physical trade documents besides holding the risk of getting lost, damaged or forged, are also not gentle to the environment and trees. These Digitized Trade Documents besides having the advantages of being securely stored and traceable are also eco-friendly being by nature paperless!!

DocuTrade solution created by Yadaplus in partnership with XDC Trade Network

The DocuTrade Platform for creation and management of Trade Finance Documents is created by Yodaplus in partnership with XDC Trade Network.

DocuTrade is created utilizing the combined expertise of these two companies, where YodaPlus built the important feature allowing for the creation of MLERT compliant document while the involvement of XDC Trade Network was in creating the Blockchain framework powering the other functionalities of DocuTrade platform.

Learn more about Yodaplus’s DocuTrade product solution that simplifies the process of creating crucial MLET compliant digitised documentation enabling companies to conduct their Trade Finance activities more efficiently without hassles here -:
DocuTrade - https://docutrade.io/

About YodaPlus

YodaPlus provides technological solutions to digitally transform companies, enhancing their functional and operational processes.

YodaPlus specializes in providing Financial Technological solutions, Blockchain Enterprise solutions, and other transformative digital solutions like ERP, IOT, AI and Business Intelligence and Analytics solutions for companies.

More details on Yodaplus’s website here - https://yodaplus.com/

Posted Using InLeo Alpha

Posted Using InLeo Alpha