Embark

Inspiration

Enabling every SME to trade globally. Next generation of DeFi needs to tap into the real world, while trade benefits from DeFi.

What it does

Embark establishes a new way for trade settlement. Built on the IC, the decentralised trade protocol provides the infrastructure for the management of the whole trade contract lifecycle and user interaction.

How we built it

Real world trade requires more settlement flexibility in comparison to digital trade, as it is only governed by few standardised rules (eg. incoterms) and needs to incorporate delivery as well as documentation for purchase contracts, merchandise handover etc. To provide this flexibility we developed a Trade Token that removes the arbitrarity of accountability for trade, incorporating all the trade documentation and legal agreements - The Trade Token handles the Invoice, Bill of Ladings and merchandise certificates: In this way we leverage the unique feature of Blockchain, namely to increase trust by transparently providing an ownership proof for the merchandise. Consequently, any potential disagreements between trade parties can be resolved more easily and globally, in particular as international trade accordances are lacking. This transparency is especially important for external parties who provide shipment protection or financing:

Technologies:

Smart Contracts in Rust

UI in React

Accomplishments that we're proud of

Completely browser based / web native

Modular architecture (Frontend and Backend within Canister)

What we learned

Reverse gas provides more ease-of-use for end-users.

Built With

• quantlib
• react
• rust