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TradeWaltz: Creating the Future of International Trade

Satoru Someya, Managing Director, TradeWaltzSatoru Someya, Managing Director
The operational structure of global trade entails exchanging numerous invoices and official reports often authenticated on paper to exchange related information among many stakeholders. Documents on taxes and permits issued by different governments also require various approvals to move products from one country to another. The involvement of multiple departments prolongs the trade processing time, resulting in supply chain confusion and monetary damages.

Eliminating cumbersome transaction procedures, TradeWaltz a cross-industry trade information collaboration platform enables shippers, banks, insurance firms, logistic companies, customs brokers, and other industries involved in global trade operations to exchange electronic information seamlessly.


Tradewaltz Operates A Trade Consortium Of More Than 120 Enterprises (As Of May 24th, 2022), Including Trading Firms, Manufacturers, Banks, Insurance Firms, IT Firms, And Government Agencies

The TradeWaltz platform, which uses blockchain and distributed ledger technology to digitize trade transactions at the local level, enables comprehensive information sharing among participants in the trade. The digitized transaction data is then validated by authorities and circulated to nodes worldwide. Individual nodes are placed in local or international governments and other trusted institutions, which aids in exchanging homogeneous data across the platform. These nodes store critical information such as invoices, permits, tax laws and other documents on the trade, which operators in the trade cycle can access. If the blockchain is compromised by a hacker or information is vulnerable at any location, the data stored in the nodes at other sites can be used to recover accurate data.

Alternatively, the user interface of TradeWaltz enables users to upload relevant data related to the trade onto the platform, which can be used and seen by other operators in the supply chain. TradeWaltz eliminates the need for paper by sharing documents as structured data and storing them in a distributed ledger.

“With the use of blockchain technology, TradeWaltz ensures the originality and transfer of rights of electronic documents, minimizing the need for tiresome processes associated with paper,” says Satoru Someya, Managing Director of the firm.

  • With the use of blockchain technology, TradeWaltz ensures the originality and transfer of rights of electronic documents, minimizing the need for tiresome processes associated with paper

TradeWaltz has reduced trade processing time and costs by more than 44-percent overall by eliminating the need for the massive volumes of paper documents associated with commerce. SMEs around the world find it challenging to undertake various expenditures, such as for inputs into the in-house and warehouse storage systems and the time associated with managing and storing paper documents. The firm’s services can enable remote work and reduce the size of offices and warehouses, assisting small and medium-sized companies in overcoming the hurdles faced when conducting trade operations.

TradeWaltz operates a trade consortium of more than 120 enterprises (as of May 24th, 2022), including trading firms, manufacturers, banks, insurance firms, IT firms, and government agencies. The consortium acts as a platform where businesses that want to digitize analogue trade activities can share issues as well as suggest solutions. They can work on requests regarding the use of the law for revision, demonstration of platform connectivity, and requests for functions. The collected information, “voices from the field,” enables seamless trading transactions. TradeWaltz also ensures up-to-date data with an objective of “the future of trade,” which includes safe and secure trade transactions that are legally-recognized.

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TradeWaltz

Company
TradeWaltz

Headquarters
Tokyo, Japan

Management
Satoru Someya, Managing Director

Description
TradeWaltz a cross-industry trade information collaboration platform enables shippers, banks, insurance firms, logistic companies, customs brokers, and other industries involved in global trade operations to exchange electronic information seamlessly