VAKT Holdings Limited provides a blockchain-based digital ecosystem for physical post-trade processing in the commodity sector, ensuring a secure and tamper-proof record of transactions. Their solutions, including vSure and vLogistics, eliminate costly trading disputes and reduce operational inefficiencies by automating contract confirmations and facilitating real-time data exchange between trading partners.
Funding
Funding not disclosed
Founders
Product
Problem
The commodity trading sector faces challenges with post-trade processing, including reconciliation issues, paper-based processes, and potential for errors, leading to costly disputes and operational inefficiencies. Existing solutions often address only a narrow part of the trade lifecycle, failing to provide a comprehensive approach.
Solution
VAKT provides a blockchain-based digital ecosystem designed to streamline and secure physical commodity post-trade processing. The platform creates a single source of truth for commodity transactions, automating contract confirmations and facilitating real-time data exchange between trading partners. VAKT's solutions, including vSure, vLogistics, and vActuals, reduce fraud risk by gathering information at the source and stamping it on the blockchain, eliminating errors and streamlining workflows. By leveraging AI and blockchain technologies, VAKT ensures secure, tamper-proof data and automates key processes, resulting in increased accuracy, efficiency, and trust between partners.
Target Audience
VAKT targets energy companies, banks, and commodity traders seeking to digitize and streamline their post-trade processes, reduce operational costs, and improve data accuracy.
Features
- vSure: Digital contract confirmation and affirmation of trade terms to eliminate errors and reduce risk.
- vLogistics: Live connection between ETRMs, terminal systems, and inspector systems for seamless digital communication and smart nominations.
- vActuals: Gathers information at the source and stamps it on the blockchain, covering global actuals for quantity, quality, time log, and documents.
- AI-powered data extraction and automation of processes.
- Real-time discrepancy detection.
- Standardized data formats for both digital and paper documents.
- Secure, private trade records bilaterally compared between counterparties.
- Blockchain-based platform ensuring a secure and tamper-proof record of transactions.