Rice trading is an opaque, complex and extremely process-intensive business. Key stakeholders in the rice trade value chain have grown accustomed to these onerous mechanisms and have, over time, simply accepted their impact on price and margin as a 'cost of business'. However, stakeholders do not have to be beholden to this costly and inefficient status quo.
Indeed, a number of trading market places (real estate funds, securities) are successfully turning to blockchain as a means to optimise their ecosystem efficiency, transparency and trading hygiene.
Blockchain’s technology structure affords benefits that directly address the inherent inefficiencies of the rice market: vast document processing requirements with costly delays and human error; frequent contractual disputes arising from multiple interpretations of clauses, further harming business, or in effect killing the deal.
Blockchain’s DNA, whereby each block is built on its predecessor, and validated by community consensus, eradicates any subjective manipulation of a trade, and creates an unmistakable audit trail at every step.
We have built a common ledger platform that will become the preferred marketplace to trade and commercialize rice. Those who use the marketplace will need tokens to transact there, resulting in a significant increase in the value of those tokens. As this happens, we expect significant extra upside above the initial net asset value for the tokens due to their limited supply – no new tokens or token options will be issued after the ICO.
