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Chanmeet Kaur - Komgo


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Blockchain Innovation Conference 2019 - #BIC19

Published in: Technology
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Chanmeet Kaur - Komgo

  1. 1. mission catalysing the world’s commodity trade network
  2. 2. today _processeshavenotevolveddespite.. globalization| technology _a commodityseacargo requires 36original documents and240copiesspreadover 27intermediates andmore important.. >95%ofthedataexchangedhas noaddedvalue! ..after decadesof stand still
  3. 3. trust _Fifteenoftheworld’slargest institutions,includingbanks, tradingcompanies,an inspection companyandanenergy major haveformeda newventure knownaskomgo incorporated komgo InGeneva,incorporatedthe21august 2018 LIVEas per December 2018
  4. 4. transform _the network effect _blockchainempowers participantsbyincreasingthe ecosystemsefficiencyand security Helpsinunlockingtrapped workingcapitalincommodity trade PRODUCERS (1) BANKS & FINANCIAL INSTITUTIONS MAJOR COMPANIES OTHER CONNECTED PLATFORMS VAKT AGRICULTURAL TRADING PLATFORM METALS TRADING PLATFORM TRADERS MANUFACTURERS END PURCHASERS OTHER INSURERS SHIPPING PLATFORM
  5. 5. komgo | catalyzing the world’s commodity trade network Our objective is to build a fully decentralized commodity trade finance ecosystem acting as a reference for this industry This environment will be interoperable with other platforms, market places and internal systems to provide a streamlined digital experience Our one stop shop provides speed, security and efficiency through shared registry, standardized products, automation and tailor made functionalities 5 transform
  6. 6. ROADMAP | COMMODITY TRADE FINANCE 3.0 trade finance 1.0 Paper LCs Paper documents outcome No data transfer Massive fraud risks Low security and efficiency trade finance 2.0 Data exchanged via Swift messages (expensive) and email (not secured) Paper documents outcome Manual rekeying of data Siloed architecture Costly administration Low security and efficiency High fraud risks trade finance 3.0 Data distributed via Blockchain Fully Decentralized Encrypted digital documents Privacy by design outcome Real-time bidding systems Immutable data Efficiency Security Controlling your data & sharing it on need to know basis 6
  7. 7.
  8. 8. PRODUCT ROADMAP | TO DATE komgo SA is incorporated with 15 investors komgo SA go live including first transaction with another BC platform (VAKT) Final round of UAT on kite in context of KYC processing New functionalities to be developed on komgo: - LC amendment / collection & presentation / refinement - BFOET SBLC Application and Issuance - Direct issuance - LOI automated generation - Receivable discounting - Permissioning Second functionality released on komgo: kite Document Exchange *utilized in KYC process New functionalities to be developed on komgo: - Market place - Credit insurance - Document Automatch - Automatic onboarding and sanction checks - Third party Wallet Aug’18 Dec’18 Feb’19 Jan’19 Q1’19 Q2’19 Shell, Mercuria, Gunvor, Koch, SGS, Citi, ING, Rabobank, ABN AMRO, BNPP, SG, Natixis, CA, MUFG, Macquarie 8