TradeWaltz is an infrastructure firm that is developing blockchain systems that allow users to share unfalsifiable and unique pieces of information on a global scale by electronically storing substantiating documentation of trade operations and transactions on distributed ledgers. The infrastructure also transforms trade documents into smart data and therefore, ensuring authenticity of digital documents as well as enable advanced levels of data application such as seamless and smooth information flow between corporate systems. This seamless and transparent flow of data is very pertinent in trade as it ensures compliance of transactions to AML(Anti-Money Laundering) regulations.
In a recent development, TradeWaltz has announced that it has secured $11.78 million in an equity financing round that saw participation from Sumitomo Corporation, the only participant in this round. This financing round is the latest addition to the firm’s other existing shares and up to date, it has managed to raise a total of $40 million.
TradeWaltz is a Japanese startup whose investment structure and initiatives pulls cooperation from the government, industries and academic institutions. The startup has so far received joint investments from the government and 15 other companies including NTT DATA since its launch in the year 2020.
According to TradeWaltz, blockchain technology, more specifically distributed ledger technology has the power to create a new social infrastructure in the digital age. As the internet penetrates to every corner of the world, one primary issue about information management on the internet has come to light, that is, the centralized information management by some giant corporations an nations. This dominance allows such entities to keep using analog procedures even though they are advocating for a digital transformation. This limits these firms since they can only digitize and automate data therefore, requiring new infrastructure to overcome this challenge.
To solve the centralization issue, TradeWaltz has developed a trade information collaboration platform that utilizes distributed ledger technology to bring security, transparency and immutability of trade data to this sector. This technology is aimed at digitizing analog trade procedures within Japan and the rest of the world. As of march 2023, the firm had acquired about 50 paying companies that have utilized TradeWaltz’s infrastructure through API linkages to eliminate analog documents. According to TradeWaltz, the firms that have integrated its solution have improved efficiency by 44%, promoted remote work and also securely tracked the location of their cargo.
In the past year, the firm opened an APAC(Asia-Pacific) representative office in Singapore that has managed to demonstrate system connectivity between trade platforms in 5 countries including Thailand, Singapore, Australia, New Zealand and Japan under the ‘Indo-Pacific Supply Chain Resilience Project’. The firm is therefore poised to become a leading provider of blockchain technology that will revolutionize the global trade industry.
