FRESHCHAIN

FreshChain has developed a ‘proof of concept' automated letter of credit on the blockchain for perishables exports. Without a letter of credit exporters are exposed to the risk of non-payment. But it takes a bank 3 to 5 days to issue a letter of credit - too slow for perishables!... Wholesalers need to finance their perishable imports so we are developing a syndicated trade finance platform on the blockchain. Holders of FreshChain's crypto-currency (FCC) can finance letters of credit, spreading the risk and sharing in the lucrative trade finance returns.