A Distributed B2B Marketplace for the SMEs in the Jewelry Value Chain.
The current value chain is fragmented and driven by middlemen leading to a multitude of problems such as High cost/trade cycle/counterfeit/capital blockage and Low trust/trade discovery/provenance.
50-60% of the trade volume is driven by SMEs, this problem could be solved only by enabling digital inclusion to their trade. Hence we built Ethically+, an integrated Marketplace with secure payment, logistics, testing labs/validation peers etc. powered by a distributer ledger, providing digital inclusion (trade discovery & settlement
) to micro, small and medium sized enterprises in the jewelry value chain.
Some of the features we are bringing into the platform are:
1. Services such as logistics, certification etc. are integrated and could be availed from within the platform.
2. A digital Escrow service is in place for secure transfer of funds between the users, initially capped at $100K per transaction. Escrow could potentially reduce frauds.
3. Digital underwriting and credit for payment could be availed by eligible buyers via our platform.
4. A distributed ledger maintains the autonomy of data.
5. Encryption of major supply chain events (asset creation, trade confirmation, payment confirmation, shipping, processing) pertaining to each listing into this ledger to create provenance.
6. No subscription fees unlike RapNet and transactional commissions only (5-10%), charged to Buyers.