Trace network

Introduction

Trace Network is an enterprise-grade NFT based decentralized finance protocol harnessing

the capabilities of composable smart contracts to enable permission-less financing options

powered by DeFi, and NFT based unique merchandise identification solutions to unlock the

billions of dollars’ worth of business potential otherwise undermined due to poor

merchandise inventory & ownership management, costlier trade financing & banking

options, and perennial inefficiencies in par Diem business transactions.

Problems and Motivations

Counterfeit Products risking the brand’s reputation

Any reputed brand’s struggle in today’s scenario is to save their reputation by saving their

consumers from counterfeit products. The counterfeit market roughly has taken away

almost 14.3% of the brand’s business and the reputation cost is something way beyond

these numbers. And in the luxury products business, it takes years of struggle to create a

loyal customer base and anything like counterfeit products is killing their existing business

and the repetitive business they expect from the same loyal customers. There is a dire need

for bringing mechanics to identify the originality of products, which can help the customer

to make a purchase based on the brand's reputation.

Real-time stock status absence across the supply chain

In today’s scenario, there are many systems used across the distribution network which does

not bring clear visibility of stock to the last level of the chain. Many buying decisions by

Brands are taken on the basis of the existing stock situation across the distribution chain to

replenish the stock or to control the over procurement of stock. There is utmost need to

control or eliminate these inefficiencies created due to having multiple systems at various

levels of stock points across the supply chain.

Cumbersome data integration mechanisms

Today the businesses are struggling mostly with inefficiencies created by multiple systems

set up across the supply chain and also due to departmental-based silos systems. They are

either managing the data management manually or with cumbersome point-to-point system

integration. Today’s multiplex supply chains need to be more transparent and efficient.

End-to-end visibility with a single version of the truth in a supply chain is a nirvana that

every business would like to achieve. With the evolution of electronic data interchange (EDI),

companies went from everything manual to paperless transactions. As the technology

matured, the value-added network (VAN) was replaced by FTP, AS2. The introduction of

centralized EDI systems has brought privacy issues across companies exchanging data.

Hence, there is a need for a decentralized platform that can help these ecosystem partners

to exchange the data safely, without much cost, and also which is efficient and intelligent to

be replicated for new partner system integration.

Cumbersome, time-consuming, and expensive financing options

Today most of the businesses are struggling to finance for liquidity, as they have their

invoices pending for settlement due to credit period, or their trade incentives are stuck with

the statutory bodies or they might require working capital to grow businesses.

Post Shipment Financing

Generally, the companies work on credit periods to settle the invoice amounts. The current

banking system allows them to take loans against these open invoices. Through Invoice

discounting, the due invoices are put on collateral with banks to get the loans. The

companies present their invoices to parties like banks, which give required loans. However,

this process is time-consuming and comes with a higher interest rate.

Pre-shipment Financing

Pre-shipment businesses can go for financing via Packing Credit loans or invoice factoring

pre-shipment. Packing Credit loans enables businesses to get loans against the orders from

their reputed customers they acquire. On the other hand, factoring businesses own the

invoices of the companies and give them the funds at discounted values. In both cases, the

credit requires submission of complex documentation and incurring cost is high. Looking at

these available scenarios businesses need the facility to enable borrowing loans without the

hassle and at low-cost interest rates.

Delayed inter and intra enterprise trade settlement

Today’s banking infrastructure enables invoice settlement at a slow pace. The overall time of

processing funds across companies takes on an average of 3-4 days to move the funds across

company accounts. Businesses need a more efficient infrastructure in order to save time in

such trade settlements.

The Product

NFT Marketplace

Trace Network’s NFT marketplace- BLING is the 1st Limited Edition Luxury & Lifestyle

Products NFT Marketplace brought to you by Trace Network. Currently, NFTs around the

world only has a digital association, which means you can only own a piece of digital art that

has been tokenized on a blockchain. BLING NFT marketplace from Trace Network, will act as

a bridge between real-world goods and virtual non-fungible tokens that have been created

specifically to represent a unique piece of that limited edition luxury lifestyle product.

This will not be just any real-world good, but a limited edition luxury item, such as a watch, a

wallet, a purse, unique dresses, beauty accessories and many more.

Also, this marketplace will be completely decentralized, representing immutable ownership

and runs totally on a series of smart contracts. Which means that any brand can be the

creator of the NFTs and carry their NFT sales, auction and distribution in a permissionless

manner.

This project allows you to create your own personalized avatar for work, games and communication in various metaverses. Your buddy avatar is made to standards that allow you to move through the chain, allowing you to enter and interact in different metaverses.

Buy and sell lifestyle products in the BLING marketplace. Add to your digital wardrobe the very best digital lifestyle products, accessories to wear as your buddy's avatar across the various metaverses.

The NDK allows brands to create a new category of unique digital products that can be used to share product information across various web2.0 web3.0 platforms.