Our vision is to digitise the global commodities trading industry, creating a secure, trusted ecosystem, powered by blockchain, smart contracts and machine learning.
VAKT will be the digital backbone of the global commodities trading industry, formalising or simplifying existing workflows, interfacing with a broad ecosystem of industry participants and digitally representing the physical world. We focus on contracts, all aspects of logistics, invoicing data and settlements.
We’re building an ecosystem, from traders and brokers to terminals, inspection companies and trade finance banks & platforms. Any party involved in the process of physical commodity trading stands to benefit from processes which are quicker, more accurate and more secure.
Our goal is to help physical commodity markets become seamless and low-cost by bringing together all stakeholders on a single platform that is efficient, tamper-proof and clear.
Our goal is to make the market more efficient by bringing together all stakeholders in a single system that is well-designed, tamper-proof and adapted to commodity operators.
Unlike other solutions focused on a narrow piece of the deal lifecycle, VAKT aims to transform the full post-trade lifecycle, becoming the single source of truth for the trading parties and the ecosystem participants: terminals, surveyors, agents, ship owners, brokers, banks, etc.
Immediate mutual agreement on the commercial details of the trade in an immutable fashion will eliminate the need for constant reconciliation during the lifecycle and prevent discrepancies at the point of invoicing. It also paves the way to move the industry toward master agreements and confirmations rather than GT&Cs and customised contracts.
VAKT’s integration with trade finance banks and platforms will allow the trading parties to more easily and quickly access Letters of Credit; this will smooth the amendment and management process, removing costs for buyers.
Digital nominations to trading parties, surveyors and terminals with actualised figures and timestamps will bring more transparency, security and efficiency to the operational tasks associated with logistics.
VAKT will allow for the components of invoicing data to be agreed on the platform without the need for costly reconciliation of discrepancies and disputes.
Dates, quantities, specifications and escalators will be centrally available.
Blockchain technology is a radically different approach to creating, maintaining and sharing data records. By design, it is immutable, tamper-proof and removes the need for any form of central record-keeper. It is ideal for scenarios where multiple counterparties need to access and add to a trusted single source of truth whilst preserving the privacy of their transactions – such as post-trade commodities processing.
Post-trade commodities processing suffers from slow, complicated paper-based processes that are subject to loss, delay and error. VAKT provides access to a fully-digital process that is inherently secure, immutable and private.
Bring the benefits of technology to your business.
A VAKT integration connects you directly with your customers for fast, secure sharing of operations data and documents. Improve your customer experience, reduce your operational risk.
Working at VAKT is a unique opportunity to develop one of the world’s first and only live, truly-enterprise platforms underpinned by blockchain. With offices in London and Lisbon, a career at VAKT is a chance to work on genuinely cutting-edge technology in a diverse, vibrant and fast-paced start-up culture.
We are expanding rapidly, building new functionality and entering new markets and always looking for the right people to help us do even more, even faster. Take a look at some of our current opportunities below.
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