VAKT was formed in 2018 by a group of oil majors, traders, and trade finance providers. Our founding partners recognised a problem that required collective action: the physical post trade process was reliant on manual, complex, repetitive and therefore error-prone processes.
By coming together and conducting their post trade work on a blockchain-enabled platform, they saw that these problems could be solved, and that they could better protect the value of their trades.
VAKT is made up of a diverse group of individuals based largely in the UK and Portugal, but also in Switzerland, India, and Singapore. We operate two offices, one in London and one in Lisbon.
Our team is made up of oil industry experts, IT specialists, and commercial professionals. All pursue a singular goal: to continually develop the best product possible, and in doing so, to help our customers protect the value of the trades they manage using VAKT.
With blockchain, we see an opportunity to improve the way trades are operated, and to boost efficiency and profitability.
By using blockchain we have created a single digital record where all of the details and stages of a trade can be agreed, recorded and seen, securely, by all partners involved in a trade. This means partners can clearly see opportunities to improve a trade in real time and mitigate potential risks.
VAKT is a web3 company: our application is decentralised, and the details of bilateral transactions are not accessible to the platform itself, only to the partners involved in a trade that are entitled to see this data by virtue of their contracts. We are working hard to bring tokenisation economics to the commodity industry.
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We can’t wait to show you VAKT in action.
Schedule a meeting with us and we’ll demonstrate how a VAKT integration connects you directly with your counterparts and ecosystem partners for fast, secure, sharing of accurate data.
