Export Portal, an e-Commerce website that facilitates transactions between buyers, sellers, manufacturers, and shipper, has announced its private blockchain trade solution which has been under development for the past seven years. Following frustration with online purchasing from e-Commerce sites, Export Portal CEO, Ally Spinu has worked to develop a safer and more secure ecosystem for global businesses.
Designed to remove middlemen in international trade, ExportPortal.com democratizes trusted documents amongst all parties. The e-Commerce platform facilitates transactions so the buyer does not get left with issues. Export Portal seeks to eliminate problems such as fake domains, falsified proof of intellectual property ownership, or license fees to withdraw complaints or malicious claim. Companies on the ExportPortal.com platform will be verified companies that want to do business with integrity.
By using private blockchain technology, the platform will save on costs, time, risk and delays normally associated with the way business is conducted. Blockchain stored data and real time access to digital supply chain records and assets will benefit financial institutions. Smart contracts will also activate triggers, speeding up international transactions.
Spinu stated: “When we take away these risks, small and large businesses from around the world will no longer be afraid to enter markets and countries they have never done business in before. With the trust that ExportPortal.com instils in the process, the more a company, community, city, and nation can thrive as a result. Efficiency creates efficiency along the way, right down to the reduction of waste, paper, logistical and shipping errors, which is also great for the environment.”