Despite the fact that Facebook and LinkedIn are used by millions today, these social networks seem to miss a major trump card in future – they do not use Blockchain. Meanwhile, a startup called TraDove has become the premier B2B social network based on Blockchain.
“We make it fast, safe and easy for buyers and sellers around the world to connect,” says TraDove’s website. According to it, today over 250,000 corporate users from 100,000 companies are running platform from over 80 countries. Employees of Nestle, Tata Motors, Huawei, Toyota, Walmart, General Electrics, Boeing, Siemens, Ford, and other international giants have already joined the B2B network.
Reshaping the global trade connections
TraDove is trying to challenge the way international trade companies are being connected today. TraDove CEO Kent Yan, an MIT graduate in engineering, believes that importing, exporting, purchasing and other regular trading procedures may be changed by the opportunities that Blockchain provides. The startup wants to bring transparency and authenticity to the B2B enterprise space.
They are effectively creating an intelligent platform to connect business partners via a social network. Spanning both local and global markets, TraDove operates with a commitment to help corporate buyers and sellers make deals.
According to Kent Yan, the TraDove was created as a reaction to frustration with international trade that Mr. Yan feels. The social B2B network was formed to authenticate, vet, and review buyers and sellers with the use of smart contracts to execute safe B2B global interactions.
“As a result, I came up with this idea to create a business-oriented social network to connect corporate buyers, sellers and other partners together so they can find each other in clicks rather than weeks or months,” Kent Yan said in the Q&A to the E27 news website.
What’s about building a social network on Blockchain?
TraDove intends to use Ethereum-based smart contracts to build an intelligent platform for connecting business partners via a social network. By design, Blockchains are innately resistant to modification and are hashed to prevent cyberattacks. This is especially important for large enterprises.
“B2B is not transparent, it’s very hard to validate and qualify a good buyer or supplier,” said Mr. Yan. “You can read what you find on the Internet, but there is not a central network where these buyers and suppliers can be rated and vetted,” he added.
TraDove’s cryptocurrency – BBCoin – is supposed to provide a better payment instrument for international trade. The coin should become the first B2B token in the market, that opens up corporate demand for cryptocurrency and boost companies’ sales, marketing and trading needs. BBCoin will also be used as a payment instrument for trusted B2B transaction, especially international trade.
Using the cryptos, companies may eliminate local banking stress and enjoy ease and low cost of payment to send money in and out of countries. “We will let corporate sellers use our basic services for free and use BBCoin to pay for prioritized or value-added utilities, such as notifying sellers as to buyers’ searched or expressed needs,” says the company’s website.
TraDove has launched its crowdsale campaign with a presale, it’s hard cap is expected at over $5 mln. The presale will end on Jan. 31 and the public sale will start on Feb. 1.