IOTA and Salus are adopting new technologies in critical minerals trade financing, promising to enhance process transparency and speed up operations.
Challenges of Traditional Trade Financing
Global trade and industrial processes are impacted by outdated systems like paperwork and slow verification. These create risks, block innovation, and exclude smaller players, exacerbating the global trade finance gap, which is estimated to be over $2.5 trillion.
The Role of Salus in Transforming Financial Processes
Salus leverages the IOTA platform and TWIN to revolutionize trade financing in critical minerals. The platform provides real-time tracking of shipments, turning physical data into trustworthy digital assets. Salus aims to cut processing times and improve access to fresh capital.
Innovative Technologies and Their Application
Salus integrates solutions including digital identity management, tokenization of trade documents, and creation of reliable audit trails. These technologies help automate processes, minimize costs, and ensure transparency to enhance operational efficiency in trade financing.
The partnership between IOTA and Salus exemplifies how Web3 technologies can address real challenges in trade financing. This collaboration contributes to building a new digital ecosystem capable of improving processes in critical minerals trade.
