We've launched our first product — Barter Block™, a physical commodity trading platform
How it works
Depositor brings grains to Accredited Warehouse
Warehouse weighs, grades and packs grains
Warehouse receipts (commodity -backed tokens) are issued to Depositor
Trade on Blockchain
Sellers and Buyers post orders on Binkabi platform
Platform matches orders
Atomic swap of commodity-backed tokens for fiat-backed tokens
Holder sends Redemption Request to Warehouse
Accredited Warehouse redeems commodities
Warehouse receipts cease to exist (commodity-backed tokens burnt)
Post your Buy or Sell orders
Track the progress of your trades
Sellers need to deposit commodities at one of our accredited warehouse/exchanges
Buyers need to deposit required fiat currency at one of our partner banks
Secured by the blockchain
Atomic swap of required fiat-back tokens and commodity-back tokens
Low transaction costs whilst achieve saving through streamline processes and FX costs
Pay on success
Only pay transaction fees on success of a trade
Each trading party independently submits information to blockchain/immutable ledger
Power the whole trading network
Farmers More profits
Trade directly and globally, improving profits, reducing uncertainties and unjustified quality claims. Smaller farmers can benefit from market information to negotiate higher prices and competitive financing from banks.
Importer Save FX costs
Negotiate the best deal directly with exporters. When the deal is done and goods are accepted, pay in local currencies at real exchange rates. Goods are subject to pre-shipment inspection so quality is ensured.
Exporter Expand markets
Negotiate the best deal directly with importers. See proof of payment from importers before shipping. Get paid once the goods are accepted by importers. Reach new buyers in another part of the world.
Banks/Insurers New SMEs
Better serve the SME segment, the core engine of economic growth. Increase deposits from SMEs, provide financing and insurance solutions based on trading histories that were never before possible.
SMEs Lower barrier to entry
Smaller tradable quantities (e.g. in units of containers), secure payment and product quality assurance, and help smaller players to enter direct import/export markets, increasing competition and lowering intermediary costs.
Countries Balance trades
Barter Block reduces the use of US$ in trade payment, reducing pressure on local currencies. Users are incentivized to find profitable trades in specific corridors and in doing so automatically balance trade flows.
Shipping/Logistics New customers
Acquire new customers who are trading on the platform. Work with Binkabi to digitise shipping documentation, bills of lading to streamline processes. Optimise shipping schedules to save costs for all involved.
All players Save time and cost
International trade is highly manual as well as fraud and error prone. Trade digitisation, immutability and the traceability of the blockchain reduce wasted time and costs due to paper trails, disputes and frauds. All parties share the same transaction record.