WelshTrade.com is proposed along the lines of Middlesex.Trade, which provides a signpost to Manufacturers In Middlesex. No single company can unlock the potential of blockchain on its own. Which is why, in a similar manner to Middlesex.Trade, WelshTrade.com will be integrated in the Blockchains.Business Network in 2019, as a channel to and from Welsh Trade.
Most commercial blockchain networks are unlisted. Blockchains.Business will give these commercial blockchain networks a chance to be in Blockchains.Business, and be publicly visible. Blockchain.Business is a co-operation between IBM and e-Debit. Welsh Businesses, and others in their supply chain, will be able to use Blockchain.Business to access a host of resources from IBM.
Middlesex.Trade also features US Stronghold as a US Stablecoin as part of a Stablecoins Network to facilitate stable, quick and secure blockchain payments. Similarly, a UK stablecoin is being established that will be used at welshTrade.com. Cryptocurrencies make the benefits of the Blockchain possible, (e.g smart contracts, decentralized infrastructures, peer-to-peer trading etc). Stablecoins in the Stablecoins Network are digital tokens that have low price volatility because it they are pegged to an underlying fiat currency with a custodian financial institution. Accordingly, stablecoins work well for payments on Blockchain Networks. Apart from US Stronghold for the US Dollar, Stablecoins for other currencies will be integrated into the Stablecoins Network in 2019.
INTEGRATION OF WELSHTRADE.COM IN THE BLOCKCHAINS.BUSINESS NETWORK
As stated above, the integration of WelshTrade.com into the Blockchains.Business Network is proposed for 2019.
Discussions have been instigated with Trade Organizations in Wales and Tanzania to establish Welsh.Trade and Tanzanian.Trade as a pilot operation for a Trade Portal and a Smart Countertrade Programme facilitated by Stablecoins.
The Smart Countertrade Programme would be utilized by a Countertrade and Export Promotion Alliance that would bring together IBM and Trade Authorities for different Geographical Regions, (who would use the Alliance to use procurement as an Export Promotion tool), as well as major manufacturers and suppliers, etc. The intention is to launch the Alliance in 2019 after pilots have been concluded with WelshTrade.com and Tanzanian.Trade
The Welsh.Trade Pilot would also feature the establishment of an Auto Parts Blockchain channel. This will be co-ordinated by. Auto Parts in Wales. Auto Parts area founder member of GroupAuto, who are responsible for the Auto Care Garages scheme and Approved Garages scheme. AutoCare is part of EuroGarage; the international garage programme of 6000+ garages in more than 20 countries. The network has over 500 independent garages around the UK. The Blockchain will be used to: Facilitate the Buying Group to enjoy economies of sale, Send supply chain payments, Facilitate smart contracts etc.
Within the pilot the intention would be to establish a similar channel for cashew nuts in Tanzania that would be used as part of a Cashew Nuts and Auto Parts Parallel Trading Programme. This intention is that this would form the nucleus of the Smart Countertrade Programme which would be scaled up after successful implementation of the trial. As well as providing a channel between businesses in Wales and Tanzania, the intention is that the pilot would feature selected major manufacturers.