we.trade is a joint-venture company owned by 15 European banks, that develops and licenses the first blockchain trade platform in conjunction with IBM for commercial clients and their banks available in the market. Through distributed ledger technology and smart contracts, the platform provides a secure, innovative environment for banks' commercial clients engaged in import/export transactions to trade in a user-friendly and efficient way.
Clients can register to the platform via their banks. The 15 major European banks have already guaranteed geographic and client coverage in 11 countries. These partner banks include CaixaBank, Eurobank, Erste Group Bank, ČSOB, HSBC, KBC, Natixis, Nordea, Rabobank, Santander, Societe Generale, UBS, UniCredit and Deutsche Bank.
we.trade's platform is built on IBM's blockchain platform using the open-source Hyperledger Fabric. According to Ciaran McGowna, in interview with coindesk in October 2019, we.trade intends to bring the technology development in-house rather than continuing to outsource to IBM.
The platform allows for identification of unknown counterparts, bank payment undertaking, real time trade settlement, event based automatic payment triggers through smart contracts, and track and trace for over 426 couriers.
As of December 2019, prices to trade on we.trade ranged from $2,000 a month to a full annual membership license at $175,000. Trialing a project with we.trade costs $75,000 per year.
Timeline
Funding rounds
People
Alan Fitzsimons
Commercial Lead
Alex McAllister
Back End Developer
Ardi Mehist
DevOps Engineer
Bart van Beek
Product Expert
Benni Russell
Front End Developer
Ciaran McGowan
General Manager
Conor Burke
Operations Support Analyst
Danny Fitzgerald
Head of Operations
David McLoughlin
Head of Business Services
Fintan Sealy
Back End Developer
Jeremy Simmons
UX/UI Designer
John O'Connor
Head of Product and Delivery
John O'Neill
Head of Security
Julie Cairn
Product Owner
Mark Cudden
Head of Technology
May Albaghdady
QA Engineer
Niamh McLafferty
Back End Developer
Peijie Ma
Back End Developer
Polina Andreeva
QA Lead
Sara Kinneen
Front End Developer
Shane Reddy
QA Engineer
Wayne Walker
Operational Support Lead