e-FRESCO a global portal based on Dubai has announced its ability to provide blockchain based shipment and B2B payments to customers in USA, Canada, Middle East, Europe and South America.
e-FRESCO is not a typical virtual marketplace where buyers and sellers meet. In addition to networking between importers and exporters, the portal provides services for farmers and agribusiness entities to empower their cross border trading.
The portal has been developed by international experts from Jordan, UAE, USA, Pakistan, Russia, China and India.
The founder of e-FRESCO Mr. Ammar Alshami has informed EIN press that the portal goes beyond networking and will provide a listing for all HORECA demand in a global level then link that to distributors, traders, farmers, and interested stakeholder worldwide.
e-FRESCO support the whole agribusiness supply chain from distributors, wholesalers, to HORECA and retailers. The system pinpoint end users in hotels and retail industry and links them with local and international traders. e-FRESCO agribusiness system supports other services such as global Gap, shipping and cross border payment.
E-Fresco (www.e-fresco.com)is Leveraging Smart Contracts for instant settlement in Dubai and surrounding areas, this partnership facilitates friction-less trade from farm to fork for time-sensitive fruit, and vegetables, with automation, and seamless importer/exporter workflows.
E-Fresco is an innovative company dedicated to offering a farm to fork marketplace that supports farmers and traders of fruits and vegetables worldwide. These, coupled with a cross-border settlement with Blockchain based systems.
e-FRESCO believes that virtual marketplaces will not succeed without vertical and horizontal integration of services. The vertical integration focus on serving a specific sector and segments such as specialization in fresh produce segment. A generic virtual marketplace that provides a wide portfolio of products and services will not work anymore. In the Horizontal aspects, virtual marketplaces should not only provide networking services to connect importers and exporters. The Added value services are critical such as customer services, shipping, cross border payments and quality assurance.
Founder and CEO of E-Fresco, Ammar Alshami Stated that the “The complexity of the supply chain in cross border transactions are due to the involvement of different stakeholders such as shipment companies, quality assurance companies, importer, exporter, customers and banking system. There is no way to enhance the effectiveness of the stakeholders involved in the supply chain without a blockchain system that secures shipment and payments. "
After traders find their sourcing needs, identify their clients then they can secure their shipment and payments. e-FRESCO system is enhanced with a blockchain payment system. Now it becomes possible to involve all stakeholders from government, shipping companies and banking industry in one Blockchain. Still more work is needed to involve government, Middle Eastern Banks and Inspection companies.
e-FRESCO allows users, B2B traders to do payments and shipment through E-FRESCO dashboard. Simply, it’s networking the network between all stakeholders involved in cross border transaction. Transparent transactions, reducing time and effort will be key advantages to built trust among global agribusiness players. “The complexity of the supply chain in cross border transactions are due to the involvement of different stakeholders such as shipment companies, quality assurance companies, importer, exporter, government and banking system. There is no way to enhance the effectiveness of the stakeholders involved in the supply chain without a blockchain system that secures shipment and payments. ", CEO of E-Fresco, Ammar Alshami Stated.