Description
Kommerce is a DeFi platform aimed at bridging the trade finance gap in Africa by leveraging the Ethereum blockchain to offer secure, efficient, and accessible financial solutions to underserved businesses, especially in the agricultural and commodity sectors. Founded by Harveen Narulla and Karen Teoh, the platform was born from recognizing the challenges faced by local enterprises, particularly a Rwandan kiosk shop owner's struggle with obtaining credit. Kommerce addresses these issues by providing transparent, immutable trade financing services, including smart contracts for automatizing the issuance of letters of credit, thereby eliminating intermediaries, reducing transaction costs, minimizing fraud risks, and enhancing the speed of trade transactions. By deploying blockchain technology and market mediation, Kommerce aims to stimulate growth in the African trade sector, ultimately contributing to improved incomes and prosperity across the continent.
Kommerce is a DeFi platform aimed at bridging the trade finance gap in Africa by leveraging the Ethereum blockchain to offer secure, efficient, and accessible financial solutions to underserved businesses, especially in the agricultural and commodity sectors. Founded by Harveen Narulla and Karen Teoh, the platform was born from recognizing the challenges faced by local enterprises, particularly a Rwandan kiosk shop owner's struggle with obtaining credit. Kommerce addresses these issues by providing transparent, immutable trade financing services, including smart contracts for automatizing the issuance of letters of credit, thereby eliminating intermediaries, reducing transaction costs, minimizing fraud risks, and enhancing the speed of trade transactions. By deploying blockchain technology and market mediation, Kommerce aims to stimulate growth in the African trade sector, ultimately contributing to improved incomes and prosperity across the continent.
