NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Introducing Trace Network: NFT based Enterprise DeFi Protocol

NewsBTC
NewsBTC
4 years ago
3 mins read
trace network

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Unique Merchandise Identification Solution to unlock billions of dollars worth of business potential

Trace Network has announced the launch of its enterprise-grade decentralized finance protocol harnessing the capabilities of composable smart contracts, permission-less financing options powered by DeFi and NFT based unique merchandise identification solutions to unlock billions of dollars worth of business potential, otherwise undermined due to poor merchandise inventory & ownership management, costlier trade financing & banking options, and perennial inefficiencies in per diem business transactions.

Announcing this, Sunil, Co-Founder Trace Network who has worked with a couple of Fortune 500 retail brands in the capacity of emerging tech adviser, said, “Despite the quantum growth, the industrial ecosystem is still struggling to cope up with fundamental challenges of lower efficiency, broken processes & related management issues that lead to various leakages in businesses which are inhibiting their growth and resulting in expensive inefficiencies.

Further to this, existing banking & financing systems are costly and time-consuming to attain efficient & cost-effective cash flow and working capital financing needs of companies across the globe. These needs are to the tune of a couple 100 billion dollars only, in the fashion, lifestyle & luxury goods industry only, which, we believe, can be lubricated by the decentralized supply of capital by harnessing the composability capabilities of evolving permission less DeFi ecosystem.

We believe Trace Network can bring tremendous fluidity and efficiency to existing business practices & processes through its decentralized protocol for enterprise DeFi, based on on-chain transactional data interchange and NFT based inventory visibility & ownership.

We are of the firm view that DLTs, NFTs & DeFi altogether can become a catalyst to achieve goals beyond Industry 4.0 by infusing greater transparency, efficiency & automation.”

Trace Network is built to push the adoption of DeFi & NFTs by enabling various untouched or under-served segments of the financial industry using blockchain technology. Some of the core functions (but not limited to) that are going to help the protocol stand out and spearhead the adoption torch are as mentioned below:

NFT based on-chain merchandise Identity Management Solution

Trace Network enables the generation of NFTs of lifestyle products to create their unique digital on-chain identity. Basis these NFTs, which will be generated on ERC 721/1155 standards, will allow ownership of product/packs and also the movement of ownership across multiple dApps. These product NFTs would act like a unique barcode, which shall be unique across all blockchains. NFTs would also carry information of material and production journey, hence enabling secure and reliable traceability. Moreover, with the NFT’s, various retail brands like Zara, Prada, etc. would be able to have clear visibility on stock status across their distribution network. These NFT’s shall allow customers to carry the ownership proof in their trace wallet powered by Blockchain. This means the problem of counterfeit products also gets handled with the Trace Network generated NFTs.

On-Chain integration & settlement of business transactions across business networks

Trace Network EDI Contract would facilitate the movement of data from one system of trading partners to another on blockchain to bring visibility, transparency, and trust across the supply chain. Brands would integrate their system using simple SDKs for integrating EDI smart contracts into their existing business systems like SAP, Oracle, SalesForce, etc to process and transmit the data on-chain across the supplier & distribution network. These transactions will then act as proof of transactions to be used for various financing options. A white label algorithmic stable coin backed by TRACE token will be used by brands for settlements & accounting of transactions across their business networks basis these on-chain transactions, hence oiling up the payments and receivables process across the business networks.

DeFi based on-chain liquidity & trade financing solution

Trace network’s universal multi-chain DeFi liquidity rails will enable cross-chain and efficient financial liquidity to be used for facilitating the financial needs of businesses. The Protocol will not only focus on basic financial options like Invoice Factoring, Invoice discounting, etc, but will also enable various structured financial products like packing credit loans, LC, Credit Limits (Credit Delegation), etc. Further, will also enable business partners to trade their liquidity with an incentive with other ecosystem players for example import credits into various companies which will be accrued based on exports of merchandise. The industry has always felt the need to share credit terms (90 Days Credit, 45 Days Credit, etc) within the ecosystem to manage the funds, however, in absence of the right instruments to control and authenticate such sharing made it impossible to implement the process. With NFTs and DeFi together, this will be enabled by the Trace network for 100’s of companies worldwide.

Tweet123Share196ShareSend
NewsBTC
NewsBTC

NewsBTC

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

25 Million Funtokens Burned! – How Does The Community React?

In a decisive move that underscores its commitment to long-term deflationary economics, the FUNToken team announced the burn of 25...

NewsBTC 4 days ago

Crypto Wealth Platform Nexo Breaks Ground with DP World Tour Golf Sponsorship

Nexo announces strategic partnership with major professional golf tournament, DP World Tour.  The partnership marks the first time a digital...

News BTC 4 days ago

STurning the Tide: How APT Miners Provide XRP and DOGE Investors with Continuous Tokens

After enduring the wild ups and downs of XRP and DOGE, many crypto investors are done with the stress of...

News BTC 4 days ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

What FunToken movement towards a 500% spike says about the scarcity market psychology

News BTC 1 day ago

With no more minting, $FUN can skyrocket 500% on fixed supply announcement

News BTC 2 days ago

Smart Contract Lock and CertiK Audit: The Driving Factors Behind $FUN’s Breakout

News BTC 3 days ago

Premium Sponsors

Press Releases

  • Make $8,000 a day in stable passive income easily –...

    9 hours ago
  • SunnyMining——A passive income tool that allows ordinary...

    11 hours ago
  • Cryptocurrency is the best way to get rich quickly, easily...

    1 day ago
  • XRP Cryptocurrency × Dogecoin Mining: HASHJ launches...

    1 day ago
  • Koja kriptovaluta ima veći potencijal za stvaranje milijunaša XRP ili Shiba Inu

    Koja kriptovaluta ima veći potencijal za stvaranje...

    2 days ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.