Eximchain is a project that aims to bring visibility to global supply chain finance through the application of blockchain technology. Based on Ethereum, Eximchain has plans to build a public, permissioned blockchain chain for small and medium-sized businesses, both buyers and suppliers, in order to provide access to affordable lending and to create tools to optimize supply chains.
What Is Eximchain?
Eximchain was created in 2015 at the Massachusetts Institute of Technology. From its inception, Eximchain benefited from institute resources such as the Plug And Play Fintech Accelerator, the MIT Center for Transportation and Logistics, and the MIT Media Lab Digital Currency Initiative.
In 2016, the project took Grand Champion in the Boston Seagull Entrepreneurship Contest and the Rice Business Plan Competition’s Engine of Innovation Prize. In 2017, Eximchain was also chosen as a finalist in MIT’s $100,000 Business Plan Competition Accelerate.
Eximchain was co-founded by Hope Liu and Juan Sebastian Huertas, both MIT graduates.
The core Eximchain product, which is still in development, is a financial technology that can be used by investors to provide working capital to small and medium business enterprises (SMEs) that would otherwise be unable to access this financing. Focusing on the transparency of the platform but also providing high levels of data security to the businesses using it, would-be investors can examine the cash flow of a business in order to determine if investing in its growth is a risk they’re willing to take.
Right now, there is no set date for any specific ICO or token release, but Eximchain is working towards that goal. Interested investors are invited to leave their contact information with the company through a text field. Tokens are to be priced, approximately, at $0.33 USD per token once the ICO goes live. These tokens will be used within the Eximchain platform for conducting contract
negotiations, the construction of supply chain products, and stakeholder participation in network governance.
Eximchain provides opportunities both SMEs looking for supply chain finance solutions and investors interested in providing those solutions. However, Eximchain makes it clear that the tokens to be used by Eximchain are strictly for utility within the system and are not speculative in any way.
It’s obvious that Eximchain means serious business. Any blockchain-based project that’s been incubated by MIT – and one that’s already won awards for excellence – is not going to be interested in any dubious speculative schemes.
No, there’s no pump-and-dump in the future for Eximchain. Of course, the token is not meant to be speculative in any way. For anyone interested in either providing SMEs with supply chain finance solutions, Eximchain as a project is likely to be an appealing one. Likewise, any small business in need of supply chain finance help may also benefit from Eximchain.
However, if you’re looking for a speculative ICO to invest in, Eximchain is not going to be a good fit – or any kind of fit – for you. Keep that in mind before you sign up for more information on its upcoming token sale.