VAKT

The primary purpose of the VAKT platform is to revolutionize physical post-trade processing in the energy sector. By leveraging blockchain technology, VAKT creates a digital ecosystem that manages the entire trade lifecycle. This comprehensive approach helps eliminate reconciliation and paper-based processes, enhances efficiency, and opens up new trade finance opportunities for energy companies and banks.

VAKT improves the trade lifecycle by serving as a single source of truth for post-trade processing, leveraging blockchain technology to enhance transparency and accuracy. This eliminates the need for complex reconciliations and reduces reliance on paper-based processes. By digitizing and streamlining trade processes, VAKT increases operational efficiency and creates opportunities for new financial products within the energy sector.

VAKT offers several benefits over traditional post-trade processing methods, including enhanced efficiency, reduced reconciliation challenges, and the elimination of outdated paper processes. As a blockchain-based solution, VAKT provides a single source of truth for the trade lifecycle, increasing transparency and accuracy. This digital ecosystem also fosters new trade finance opportunities, making it a comprehensive solution for energy companies and banks seeking modern advancements.

The VAKT platform is backed by nine major energy companies and banks that are focused on advancing blockchain technology within the sector. These leading organizations have recognized the need for an industry-wide solution to longstanding inefficiencies in trade processing and have committed to collaborating on the development and support of VAKT’s blockchain-based ecosystem.

VAKT distinguishes itself from other post-trade platforms by offering a holistic approach to managing the entire trade lifecycle in the energy sector. Unlike solutions that address only specific lifecycle segments, VAKT aims to transform the entire process, leveraging blockchain for a unified and efficient system. This comprehensive approach positions it as a transformative tool rather than a patchwork fix.

VAKT addresses common issues in trade processing, such as inefficiencies due to paper-based systems and complex reconciliation processes. By digitizing the post-trade ecosystem and providing a blockchain-based platform, VAKT improves data transparency and accuracy. This minimizes resource wastage, reduces processing delays, and enhances overall transactional efficiency in the energy sector.