Trade which involve the buying and selling of goods and services has been an important facilitator of economic growth and development in all parts of the world over the years, helping to reduce poverty. Countries, societies and individuals engaged in trade for the purpose of satisfying the need of each by offering products, services demanded by the other in return for a generally accepted medium for payment, money.

According to statistics, world merchandise exports have seen an increase of about 32% since 2006, rising to levels of over USD 16 trillion as at 2017. On the other hand, commercial services have risen by about 64% reaching a total value of USD 4.77 trillion.

Despite the impressive record of the growth of trade both domestic and internationally over the years, the industry is still faced with some challenges with acts as real barriers and obstacle to free trade. These challenges that acts as obstacles to free trade are summed up into the following, which include:

Fraud: This is one of the biggest challenges facing both domestic and international trade. Fraud which ranges from false credit insurances, bad quality products, fake companies and so on, have been so common that persons engaged in one form of trade or the other are left with no option than to utilize the services of a third party agents e.g. banks, who charge high fees and set strict regulations to govern even the simplest of trades. This challenge of fraud is as a result of the fragility of the current system responsible for perform trading services, even the digital ones are not left. Fraud is estimated to be account for losses of about 4 trillion USD annually, due to this, many affected companies have declare bankruptcy and shutdown.

Supply-chain problems:another is supply-chain barriers which is anything that obstructs the free movement of goods and services from one point in the supply-chain to the next. These supply-chain problems includes: border delays, inconsistent product regulations, poor transport and communication facilities and many more. Blockchain is no doubt the solution is the above listed challenges if utilized in the right way, blockchain provides a tamper-proof solution for transactions from its immutability which prevents information from being altered or manipulated was lodged on the blockchain. It also allows for smooth communication between parties involved in the supply-chain of goods and services. Therefore, CATENA is on a mission to bring this to reality, as ‘trust’ is a basic requirement for seamless trading which can be provided by blockchain.

Introducing CATENA

CATENA is a decentralized platform built entirely on blockchain which aims to provide a lasting solution to not only the trust issue faced by current trading platforms, but created to build a base where every party involved in a trade from manufacturer, buyer, seller, carriers, insurance companies, quality inspections and others can agree of the terms and conditions involved in payment, shipping, product parameters and quality of goods and services. CATENA has the vision of becoming the largest trusted platform for both domestic and international trades and a mission to empower businesses with powerful tools to grow their customer base and secure their business activities thus, opening small and medium enterprises to a world of limitless opportunities. CATENA intends to be the first choice for all trade transactions across the world. See CARENA whitepaper for the full business model.

BENEFITS OF CATENA

CATENA provides a decentralized blockchain platform with the following benefits for users and small

CATENA: A TRUST-LESS GOODS AND SERVICES TRADING PLATFORM