Re-imagining
Post-Trade Management
The commodity markets are stuck in the past, whereas financial markets have modernised and digitised. The post-trade processes of physically traded commodities have remained slow, manual and paper-based. VAKT aims to change this.
What is Blockchain?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.
Our Story
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 Investors
About Us
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.
Deal Recap and Confirmation
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.
Trade Finance
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.
Logistics
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.
Invoice Data
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.
Meet Our Team
Leadership
Etienne Amic
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Frances Dean
Bart Bream
Stephanie Trabia
Richard James
Locations
London
1 Canada Square, London, E14 5AB
Lisbon
1150–152, Lisboa, Portugal
Our Technology
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.
Our Platform is:
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Underpinned by Blockchain
- Blockchain has been designed to give algorithmic guarantees of immutability and tamper resistance
- A record of truth is written to the ledger creating an immutable audit trail
Private, permissioned, distributed
- Identity and security are federated: access to sensitive data is only available in the customer cloud infrastructure, shared directly between counterparties when relevant
- VAKT has no default access to sensitive customer data, which is fully encrypted
Enterprise - First
- Built with robustness and operability in mind
- Combining blockchain with stable tried and tested enterprise-grade technology based in the cloud
News
VAKT ecosystem expands commodities inspection services with Intertek
April 8, 2020
VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, has partnered with leading total quality assurance provider, Intertek, to bring its first-class commodity....
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VAKT adds commodities inspection services to ecosystem with SGS partnership
March 11, 2020
VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, welcomes SGS as the first inspection company to join the platform. SGS will integrate its ...
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Saudi Aramco Energy Ventures makes $5m investment into VAKT and joins platform
January 28, 2020
LONDON – January 28th, 2020 – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, welcomes Saudi Aramco Energy Ventures (SAEV) as its latest ...
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September 2019: VAKT Expands Ecosystem with essDOCS Collaboration on NWE Barge Markets
September 17, 2019
London, UK & Swieqi, Malta – September 17, 2019: VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, announces a memorandum of understanding (MOU) with ...
Read more >>
February 2019: VAKT Welcomes/Appoints Etienne Amic as New CEO
February 13, 2019
LONDON – February 13, 2019, – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, today announces the appointment of Etienne Amic as its ...
Read more >>
January 2019: VAKT Adds Chevron, Total S.A. and Reliance Industries as Investors
January 16, 2019
LONDON – January 16, 2018, – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, today announces investment from three new strategic investors: Chevron, Total ...
Read more >>
November 2018: VAKT Goes Live with World First Enterprise-grade Blockchain Platform
November 29, 2018
LONDON – NOVEMBER 29, 2018 – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, has launched its platform in its first market. Participants in ...
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July 2018: VAKT Joins the Ethereum Enterprise Alliance
July 27, 2018
VAKT are pioneering the development of an industry-wide post-trade processing platform for commodities through blockchain, today announces that it has joined the Enterprise Ethereum Alliance (EEA), th
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June 2018: VAKT is Launched to Re-imagine Global Commodities Through the Use of Blockchain
June 21, 2018
LONDON – JUNE 18, 2018 – VAKT, an independent company focused on creating an industry-wide post-trade processing platform for commodities through blockchain, announced today its launch and ...
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November 2017: Commodity Traders, Energy Majors and Banks Join Forces to Create a Blockchain-based Digital Platform for the Energy Commodity Trading Industry
November 7, 2017
LONDON, GENEVA, AMSTERDAM and STAVANGER, Norway, November 7, 2017 /PRNewswire/ — In a unique collaboration, several of the world’s largest trading houses, integrated energy companies and banks intend
Read more >>News
September 2019: VAKT Expands Ecosystem with essDOCS Collaboration on NWE Barge Markets
September 17, 2019
London, UK & Swieqi, Malta – September 17, 2019: VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, announces a memorandum of understanding (MOU) with ...
Read more >>February 2019: VAKT Welcomes/Appoints Etienne Amic as New CEO
February 13, 2019
LONDON – February 13, 2019, – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, today announces the appointment of Etienne Amic as its ...
Read more >>January 2019: VAKT Adds Chevron, Total S.A. and Reliance Industries as Investors
January 16, 2019
LONDON – January 16, 2018, – VAKT, the company re-imagining commodity post-trade processing underpinned by blockchain, today announces investment from three new strategic investors: Chevron, Total ...
Read more >>Work with us
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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Testimonials
Ux Designer
Joao Castro Pereira
And the reason we are taking these unprecedented steps to prop up businesses, support businesses and support our economy and these preventative measures is because we have to slow the spread of the disease and to save thousands of lives. Today we have come to the stage of our plan that I advertised at the outset, when we first set out the plan of the UK government. "I said the moment would come where we needed to shield those with serious conditions. There are probably about 1.5 million in all. (...) But this shielding will do more than any other single measure that we are setting out to save life. " "You have to stay two metres apart; you have to follow the social distancing advice. And even if you think you are personally invulnerable, there are plenty of people you can infect and whose lives will then be put at risk." "(...) keep the implementation of these measures under constant review and, yes of course, we will bring forward further measures if we think that is necessary (...) The more we collectively slow the spread, the more time we give the NHS to prepare, the more lives we will save, the faster we will get through this. And always remember – we will get through this, and we will beat it together."
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