Legal &038 General has turned to Amazon’s services to launch what it claims is the first blockchain system for bulk pension deals.
Insurer L&G Uses Amazon Blockchain Service for Pension Deals
The company has noticed that there are no reliable e-commerce providers in the industry that allow local vendors to make bulk purchases. This is why Bulk Trader has used various technologies, including blockchain and AI, to create a platform that will enable merchants to make more cost-efficient transactions.
The positive impact of making local bulk purchases will not only help the local economy flourish, but it will also help smaller vendors in establishing their brand among bigger companies.
The Bulk Trader’s marketplace will allow merchants to come into contact with a network of distributors and make the purchases, trades, and shipments they require. Their marketplace is designed to cater to the local B2B commerce where both buyers and sellers can interact and work in a safe and transparent environment.
Local Economy Growth
Through its business model, Bulk Trader focuses on offering merchants the ability to make significant economic contributions to their local community. But not only small wholesalers will benefit from this hyperlocal marketing system, as independent companies that operate outside of their regions can also bring in their products.
The Power of Blockchain
Blockchain has become the technology that is most often implemented when a transparent system is required between transacting parties. Bulk Trader has based its B2B Marketplace on blockchain in order to create more trustworthiness and transparency in this e-commerce sector.
Bulk Trader uses a series of open distributed ledgers which are dispersed on a global scale to validate the trades and transactions between customers and suppliers.
Security and Logistics
The B2B e-commerce sector is plagued with many communication problems because of its multitude of transaction layers and bureaucracy, impairing the transmission of information between parties.
By implementing Blockchain, Block Trader will enable supplier payments and settlements to be processed at a faster rate. As all information recorded on a blockchain is immutable, there will be no issue in tracking and auditing the supply data from the chain.
In addition to blockchain, technologies such as AI, EDI, XML, and API will be incorporated in order to improve data flow and execution speeds. By making the entire process digital, there will be no need to spend money and time on paper and bureaucracy.
When it comes to security, blockchain-based shipping paired AML, FICA, and KYC standards will ensure that the Bulk Trade marketplace is the most secure and reliable B2B e-commerce platform.
Bulk Trader’s Crypto Token
The native cryptocurrency of the Bulk Trader platform, the Bulk Token, will have many uses for its shareholders. Token owners will be able to buy products, vote for updates, or benefit from discounts or rewards. Merchants can also use the token to advertise their business on the platform and gain more distributors or clients.
Moreover, crypto traders can trade the Bulk Token on a crypto exchange. Bulk Tokens can also be staked; this, in turn, will generate new tokens for their holders, passively.
Bulk Trader wants to harness the advantages of blockchain in order to create a B2B e-commerce marketplace that allows distributors and vendors alike to trade, buy and ship securely.
Please keep in mind that the pre-ico is available until the end of July 2019!
The post The Bulk Trader Token: Making Merchant’s Life Easier appeared first on ZyCrypto.