On the 29th of May, TAG community has a Telegram
AMA with
At
the AMA : Piyush Gupta, Founder of POLYTRADE, introduced and shared
many interesting information about POLYTRADE.
And here are the key takeaways of the AMA:
Tag: The AMA would be happened as follows
- Segment 1: Greeting and Introduction.
- Segment 2: Answer the closed questions from
Twitter (5questions)
- Segment 3: Live Q&A session (5 questions)
Tag: For starting segment 1: First of all, I would like to say thanks for taking your time here and share with us about Polytrade
First,
could you please introduce your team and Polytrade? @piyush_gup1a
POLYTRADE: First let me invite my
colleague @aruLprak here
Its
great to emeet you all today. I’ve been with the Trade finance industry for the
last 15 years with experience in organizations like Societe Grenerale, Kitara
Corp, AmiCorp and few other big names. I setup my own trade finance business
back in 2014 and since then have expanded operations to Hong Kong, Singapore,
India and Dubai. Am currently based out of Dubai. At Riqueza capital we have
processed invoices worth more than 500mn USD in the last few years… all of
which we are confident will move to POLYTRADE. Am an Aerospace Engineering from
IIT Bombay by education.
For
the last 16 years, I’ve been working with Fortune 10 companies in my recent
past and heading product development & business transformation functions
for many of my clients. Worked with companies like Walmart, CVS, Accenture and
the TATA group extensively. Have been in the crypto space for the last 4 years
and waiting for the opportunity to bring real world to Cryptosphere. MBA &
engg by education.
Tag: To continue, Could you please share with us what
are the competitive advantages of Polytrade compared to other projects?
POLYTRADE: Polytrade has a very organic approach to
tackling the century old trade financing market. We do not want to bite more
than we can chew. We do not intend to make a business model which is dependent
on our partners and customers knowing Crypto. While all our underlying
transactions will be logged on blockchain and executed via smart contracts, the
user will require near-zero knowledge of crypto. We will become the ramp via
which he gets exposed to crypto.
So our platform is going to be easy for
on-crypto users at the same time bring in the various benefits of smart
contracts and decentralised platforms, by making it quicker and
“cheaper” to actually complete the whole process.
Our Investors and lenders will get exposure to a
conventional real world asset which is protected from the volatility of the
crypto markets.
Tag: And now please share with us some new
upcoming events, as well as big partners Polytrade has been working with during
its development period
POLYTRADE: Our immediate timeline
includes – an updated whitepaper, updated roadmap, updated website, and
finalizing our IDO platforms, followed by exchange listing. Post IDO our entire
focus will shift towards product development which should see a MVP launched in
the mainnet within the next 2 quarters. We intend to partner with downstream
and upstream businesses within the trade finance area to ensure we become an
all -encompassing layer for trade finance.
Our other key focus area is going to be security
and safety. We are getting our contracts certified currently and will be periodically
doing so with industry leaders in this space. We also will be working with our
insurance providers who will also be providing the additional safety for our
investors and lenders.
To continue, we turn to Segment 2: Answer the
selected Twitter questions.
First
of all, I would like to say thanks to Tag’s members who have sent many
questions about Polytrade to us..
Tag: The first question is from
https://twitter.com/Luckylll3478/status/1398538049005395969?s=20
What are your plans to create awareness about project to the Non-Crypto & Non-English local communities? Can anybody use your project from any where or also some restricted countries? Do you have plan to conduct Ambassador Program?
POLYTRADE: Unlike other crypto projects, non-crypto
users are super critical for us. All our Buyer and supplier community are not
cryptosavvy. In fact as part of our marketing plans, we intend to have 2 heads
– one looking at Crypto-Marketing and another in the conventional non-crypto
space. Our goal clearly is to build the bridges between these two spaces,
without which Polytrade will not be able to function effectively.
By doing this we intend to become ramps for
non-crypto folks into crypto world , thus building our whole community.
You always remember the first exchange you
bought your crypto from, we intend to be part of those memories with our trade
finance community providing them the ramps for Crypto. ?
With respect to countries of operation, our
initial operation will be in Asia – SE, ME and Indian subcontinent. Each
country have their own regulations that needs to be understood and adapted for
the platform work effectively. With the kind of growth that Asia is seeing I
think we have a great place to start. We will keep expanding globally though.
Tag: And the 2nd question is from
https://twitter.com/juki980/status/1398523676975194113?s=20
If I am an investor, please tell me how much revenue will be in 2020, which products are the key products and the upcoming direction? any more product development?
POLYTRADE: would love to answer that…
Our product platform will consist of
different modules to include the various stakeholders involved.
Supplier/Borrower, Buyer, Service provider, Lender are all the modules that we
have planned as part of our roadmap. We will keep expanding and going deeper on
each of this product platforms. Our integration with new partnerships to
improve our operations will also be part of the development for the current
year.
Tag: The next question is from
https://twitter.com/ngo_nguyenkhang/status/1398297766674067460?s=20
How much can you borrow (maximum or minimum) in the PolyTrade system? The stakes are Stable coins then converted to fiat or vice versa, and given to suppliers, who then become borrowers. so how profitable is the PolyTrade bet?
POLYTRADE: Piyush Gupta:admin
The credit taking ability of the borrower
follows strict rules of validation. This includes KYC checks, credit checks,
default checks from bank accounts, past history of transactions and many many
more parameters. The borrowing limit will be governed by these parameters. Also
note that the invoices against which lending will happen will be protected by
credit insurance as well.
Polytrade’s profitability will not necessarily come by mere ability to compete
with conventional finance in Interest terms. Ability to quickly respond and
finance partners, increases the number of times the same monies can be deployed
in market, increasing the actual profits in value terms. In addition, reducing
the ticket sizes by 90% from the conventional financing options, opens us up to
close 1.6 trillion USD of unmet market opportunity.
Tag: The next question is
https://twitter.com/MrJamal92/status/1398518438453137412?s=20
Any plan to build partnership with local developers to make the use of your project more global?
POLYTRADE: great…
very timely question…
We definitely will be a global platform.
As mentioned earlier, there are quite a few country specific regulations that
need to be satisfied as well. We look forward to have a snowball effect as we
grow… As our momentum grows, we will keep covering more markets and more
customers.
Partnerships will be super essential for us as well, to ensure we cover the
whole ecosystem. When it comes to developers, we always seek developers… So if you are a
skilled Ethereum developer, DM me and we will get you started right away.
Tag: The 5th question is from
https://twitter.com/huynhminhnhat14/status/1398209429720338436?s=20
What is PROJECT’s revenue model? In which ways do you
generate revenue/profit?
POLYTRADE: Our revenue will be based
on competitive rates that we can offer to lenders in comparison to other
platforms. In addition this will be supplanted by our on ground Sales &
marketing teams who have been working in the field for the last 6 years who
have a huge repository of borrowers waiting to get access to smaller ticket
size financing.
We will tap into liquidity pool from Crypto
markets to get funds and lend them out to borrowers.
Advantages to crypto Lenders: Safe insurance
backed investment in real world asset.
Advantages to Borrowers: Super quick financing
even for smaller ticket sizes.
Tag: Thank
you for your detailed answer.
We have just finished segment 2 of today’s AMA session
Now we turn to Segment 3: Live Q&A session (5 questions)
At this segment, I will open the chat a few minutes to receive the questions. Let pick your favorite ones when the chat’s closed
Tag: What can we expect to see from this
project in the short-term (at some point in 2021) and 2022 and beyond
(long-term goals)??
POLYTRADE: Immediately our target is
to build a robust platform for all stakeholders including
buyer/seller/lender/service provider. Do our test transactions and focus on
partnerships. 2021 we wish to ensure that revenues starts to flow in.
Lets not look at just 2022, We want to make Polytrade as
world’s biggest and safest trade finance platform globally
Tag: A lot of scam projects out there. What guarantees that your
project is different from them?
POLYTRADE: You can check our profiles and we would love to meet you all. We are not anonymous and our expereince in trade finance, blockchain technology and business management with nature of background we come from itself is proof that we are not here for the short haul.
Our team is made up of premier Engg and MBA grads and with rich professional experience, which you can verify. So as a team, we are not going to vanish into thin air! ?
Now about the project – Trust me when I say this, all our investors, you can check the name on our site, have done a rigorous evaluation of our business model, experience and feasibility of us being able to pull this off.
There will be competitors with similar or different model catering to this industry and our approach to our competitors is very simple, in simple ways same as CZ. This space is nascent and new, the unaddressed market alone is in trillions. so we welcome our brothers from competing entitites to come to crypto space and build the bridges between the real world and crypto world to benefit one and all.
Tag: So many good blockchain projects have failed
because of low sale of their token, which can be blamed on the present bear
market. How will you raise funds for your project and survive this bear market?
POLYTRADE: I believe a good project should be immune to bear
or bull market. We have an amazing set of investors backing us. For us funds
would never be an issue as platform itself will start generating revenue as
soon as it kicks in. We wish to make a highly profitable venture and let the
benefits pass to our investors and community who is supporting us in long run.
Tag: At this moment, which one the most
Necessary for your project:
1. Investors
2. Community
3. Market/Exchange
and why?
POLYTRADE:
Right
now, we are already over subscribed by our investors… We are saying NO to new
investments. We want the additional available funds to go to the community and
hence our focus is on Community building. We want all of you to join our
community and be part of our super successful journey, thats to begin.
Along with community, the next step is exchanges so users can
buy and utilize our tokens on our platform, so exchanges are also very
important. We already have a tier-1 IDO platform signed and ready.
Announcements will soon come on our channels…
To
help comunity be part of us and get the benefits of joining us early we are
running a giveaway campaign where all of you are welcome to join in.
Tag: Trust and security is very important in any business , what
makes investors , customer and users safe secure when working with your project?
POLYTRADE: We understand that this
is a very important aspect for any business. Our smart contracts will be all
audited to safeguard the platform from hacks and attacks.
On the other hand, we will also insure the underlying
financed invoices to safe guard our liquidity providers from losing any money
due to defaults from buyers.
So Polytrade will ensure safest protocol from all angles
Tag: Thank you to be here and share with us
such helpful information
Once
again, on behalf of TAG Ventures and the members, we would like to thank you
for being here today.
POLYTRADE: Thank you for giving us
the opportunity to share our project with your community. Please follow us on
our socials and if there’s any questions we are happy to answer them.
On the 29th of May, TAG community has a Telegram AMA with
At the AMA : Piyush Gupta, Founder of POLYTRADE, introduced and shared many interesting information about POLYTRADE.
And here are the key takeaways of the AMA:
Tag: The AMA would be happened as follows
Tag: For starting segment 1: First of all, I would like to say thanks for taking your time here and share with us about Polytrade
First, could you please introduce your team and Polytrade? @piyush_gup1a
POLYTRADE: First let me invite my colleague @aruLprak here
Its great to emeet you all today. I’ve been with the Trade finance industry for the last 15 years with experience in organizations like Societe Grenerale, Kitara Corp, AmiCorp and few other big names. I setup my own trade finance business back in 2014 and since then have expanded operations to Hong Kong, Singapore, India and Dubai. Am currently based out of Dubai. At Riqueza capital we have processed invoices worth more than 500mn USD in the last few years… all of which we are confident will move to POLYTRADE. Am an Aerospace Engineering from IIT Bombay by education.
For the last 16 years, I’ve been working with Fortune 10 companies in my recent past and heading product development & business transformation functions for many of my clients. Worked with companies like Walmart, CVS, Accenture and the TATA group extensively. Have been in the crypto space for the last 4 years and waiting for the opportunity to bring real world to Cryptosphere. MBA & engg by education.
Tag: To continue, Could you please share with us what are the competitive advantages of Polytrade compared to other projects?
POLYTRADE: Polytrade has a very organic approach to tackling the century old trade financing market. We do not want to bite more than we can chew. We do not intend to make a business model which is dependent on our partners and customers knowing Crypto. While all our underlying transactions will be logged on blockchain and executed via smart contracts, the user will require near-zero knowledge of crypto. We will become the ramp via which he gets exposed to crypto.
So our platform is going to be easy for on-crypto users at the same time bring in the various benefits of smart contracts and decentralised platforms, by making it quicker and “cheaper” to actually complete the whole process.
Our Investors and lenders will get exposure to a conventional real world asset which is protected from the volatility of the crypto markets.
Tag: And now please share with us some new upcoming events, as well as big partners Polytrade has been working with during its development period
POLYTRADE: Our immediate timeline includes – an updated whitepaper, updated roadmap, updated website, and finalizing our IDO platforms, followed by exchange listing. Post IDO our entire focus will shift towards product development which should see a MVP launched in the mainnet within the next 2 quarters. We intend to partner with downstream and upstream businesses within the trade finance area to ensure we become an all -encompassing layer for trade finance.
Our other key focus area is going to be security and safety. We are getting our contracts certified currently and will be periodically doing so with industry leaders in this space. We also will be working with our insurance providers who will also be providing the additional safety for our investors and lenders.
To continue, we turn to Segment 2: Answer the selected Twitter questions.
First of all, I would like to say thanks to Tag’s members who have sent many questions about Polytrade to us..
Tag: The first question is from
https://twitter.com/Luckylll3478/status/1398538049005395969?s=20
What are your plans to create awareness about project to the Non-Crypto & Non-English local communities? Can anybody use your project from any where or also some restricted countries? Do you have plan to conduct Ambassador Program?
POLYTRADE: Unlike other crypto projects, non-crypto users are super critical for us. All our Buyer and supplier community are not cryptosavvy. In fact as part of our marketing plans, we intend to have 2 heads – one looking at Crypto-Marketing and another in the conventional non-crypto space. Our goal clearly is to build the bridges between these two spaces, without which Polytrade will not be able to function effectively.
By doing this we intend to become ramps for non-crypto folks into crypto world , thus building our whole community.
You always remember the first exchange you bought your crypto from, we intend to be part of those memories with our trade finance community providing them the ramps for Crypto. ?
With respect to countries of operation, our initial operation will be in Asia – SE, ME and Indian subcontinent. Each country have their own regulations that needs to be understood and adapted for the platform work effectively. With the kind of growth that Asia is seeing I think we have a great place to start. We will keep expanding globally though.
Tag: And the 2nd question is from
https://twitter.com/juki980/status/1398523676975194113?s=20
If I am an investor, please tell me how much revenue will be in 2020, which products are the key products and the upcoming direction? any more product development?
POLYTRADE: would love to answer that…
Our product platform will consist of different modules to include the various stakeholders involved. Supplier/Borrower, Buyer, Service provider, Lender are all the modules that we have planned as part of our roadmap. We will keep expanding and going deeper on each of this product platforms. Our integration with new partnerships to improve our operations will also be part of the development for the current year.
Tag: The next question is from
https://twitter.com/ngo_nguyenkhang/status/1398297766674067460?s=20
How much can you borrow (maximum or minimum) in the PolyTrade system? The stakes are Stable coins then converted to fiat or vice versa, and given to suppliers, who then become borrowers. so how profitable is the PolyTrade bet?
POLYTRADE: Piyush Gupta:admin
The credit taking ability of the borrower follows strict rules of validation. This includes KYC checks, credit checks, default checks from bank accounts, past history of transactions and many many more parameters. The borrowing limit will be governed by these parameters. Also note that the invoices against which lending will happen will be protected by credit insurance as well.
Polytrade’s profitability will not necessarily come by mere ability to compete with conventional finance in Interest terms. Ability to quickly respond and finance partners, increases the number of times the same monies can be deployed in market, increasing the actual profits in value terms. In addition, reducing the ticket sizes by 90% from the conventional financing options, opens us up to close 1.6 trillion USD of unmet market opportunity.
Tag: The next question is
https://twitter.com/MrJamal92/status/1398518438453137412?s=20
Any plan to build partnership with local developers to make the use of your project more global?
POLYTRADE: great… very timely question…
We definitely will be a global platform. As mentioned earlier, there are quite a few country specific regulations that need to be satisfied as well. We look forward to have a snowball effect as we grow… As our momentum grows, we will keep covering more markets and more customers.
Partnerships will be super essential for us as well, to ensure we cover the whole ecosystem. When it comes to developers, we always seek developers… So if you are a skilled Ethereum developer, DM me and we will get you started right away.
Tag: The 5th question is from
https://twitter.com/huynhminhnhat14/status/1398209429720338436?s=20
What is PROJECT’s revenue model? In which ways do you generate revenue/profit?
POLYTRADE: Our revenue will be based on competitive rates that we can offer to lenders in comparison to other platforms. In addition this will be supplanted by our on ground Sales & marketing teams who have been working in the field for the last 6 years who have a huge repository of borrowers waiting to get access to smaller ticket size financing.
We will tap into liquidity pool from Crypto markets to get funds and lend them out to borrowers.
Advantages to crypto Lenders: Safe insurance backed investment in real world asset.
Advantages to Borrowers: Super quick financing even for smaller ticket sizes.
Tag: Thank you for your detailed answer.
We have just finished segment 2 of today’s AMA session
Now we turn to Segment 3: Live Q&A session (5 questions)
At this segment, I will open the chat a few minutes to receive the questions. Let pick your favorite ones when the chat’s closed
Tag: What can we expect to see from this project in the short-term (at some point in 2021) and 2022 and beyond (long-term goals)??
POLYTRADE: Immediately our target is to build a robust platform for all stakeholders including buyer/seller/lender/service provider. Do our test transactions and focus on partnerships. 2021 we wish to ensure that revenues starts to flow in.
Lets not look at just 2022, We want to make Polytrade as world’s biggest and safest trade finance platform globally
Tag: A lot of scam projects out there. What guarantees that your project is different from them?
POLYTRADE: You can check our profiles and we would love to meet you all. We are not anonymous and our expereince in trade finance, blockchain technology and business management with nature of background we come from itself is proof that we are not here for the short haul.
Our team is made up of premier Engg and MBA grads and with rich professional experience, which you can verify. So as a team, we are not going to vanish into thin air! ?
Now about the project – Trust me when I say this, all our investors, you can check the name on our site, have done a rigorous evaluation of our business model, experience and feasibility of us being able to pull this off.
There will be competitors with similar or different model catering to this industry and our approach to our competitors is very simple, in simple ways same as CZ. This space is nascent and new, the unaddressed market alone is in trillions. so we welcome our brothers from competing entitites to come to crypto space and build the bridges between the real world and crypto world to benefit one and all.
Tag: So many good blockchain projects have failed because of low sale of their token, which can be blamed on the present bear market. How will you raise funds for your project and survive this bear market?
POLYTRADE: I believe a good project should be immune to bear or bull market. We have an amazing set of investors backing us. For us funds would never be an issue as platform itself will start generating revenue as soon as it kicks in. We wish to make a highly profitable venture and let the benefits pass to our investors and community who is supporting us in long run.
Tag: At this moment, which one the most Necessary for your project:
1. Investors
2. Community
3. Market/Exchange
and why?
POLYTRADE:
Right now, we are already over subscribed by our investors… We are saying NO to new investments. We want the additional available funds to go to the community and hence our focus is on Community building. We want all of you to join our community and be part of our super successful journey, thats to begin.
Along with community, the next step is exchanges so users can buy and utilize our tokens on our platform, so exchanges are also very important. We already have a tier-1 IDO platform signed and ready. Announcements will soon come on our channels…
To help comunity be part of us and get the benefits of joining us early we are running a giveaway campaign where all of you are welcome to join in.
Tag: Trust and security is very important in any business , what makes investors , customer and users safe secure when working with your project?
POLYTRADE: We understand that this is a very important aspect for any business. Our smart contracts will be all audited to safeguard the platform from hacks and attacks.
On the other hand, we will also insure the underlying financed invoices to safe guard our liquidity providers from losing any money due to defaults from buyers.
So Polytrade will ensure safest protocol from all angles
Tag: Thank you to be here and share with us such helpful information
Once again, on behalf of TAG Ventures and the members, we would like to thank you for being here today.
POLYTRADE: Thank you for giving us the opportunity to share our project with your community. Please follow us on our socials and if there’s any questions we are happy to answer them.