Envoy offers a trade finance system using blockchain, AI and smart contracts.
Envoy offers a trade finance system using blockchain, AI and smart contracts. The aim is to provide faster, safer and more cost efficient transactions. The platform will connect stakeholders at every stage of the trade finance supply chain in a safe and transparent space. It aims at democratizing the contract finding process and make it available to the wider public. The system takes advantage of two different blockchain ledgers. Their native token NVOY is an ERC20 utility token on Ethereum, and R3 Corda will be used to record and settle invoices and smart contracts. Members can participate in the market either manually or by allowing the AI messenger to trade on their behalf. When an invoice is fully funded, funds are converted into Ethereum. The smart contract, along with the collateral, is then transferred from the platform to the Corda blockchain, where the settlement process begins.