Micro, small & medium enterprises (MSMEs) are a critical component of the economic fabric in developing economies. Collectively these businesses represent the single largest factor determining the future growth and prosperity of the world’s emerging economies. This sector currently suffers from restricted access to business resources, market information, sales opportunities and financial services. And, notably, from a stark under-participation by women owners. Ethitrade was established to power inclusive economic growth on a global scale.
History of Ethitrade
How can micro, small and medium enterprises (MSMEs) communicate effectively with their regulator to stay informed across relevant standards and regulations? How do MSMEs participate effectively in global supply chains and logistics? How are MSMEs product and service discoverable and how can they build strong international relationships? How do MSMEs build their global trading reputation to join a new supply chain. These are the challenges faced by MSMEs throughout the world, particularly in developing countries.
The 2017 APEC Minister’s Responsible for Trade (MRT) Summit in Hanoi sought to tackle these challenges through an international hackathon. Competing against teams from round the region, the Ethitrade pioneers proposed the winning solution, an “APEC Connect” app aimed at enabling small business owners to build an online identity and trading reputation.
Following on the this, Ethitrade was established in October 2017 and engaged by The Asia Foundation (supported by DFAT) to develop and implement a blockchain based food provenance platform. The initial use case for the platform is tracking dragon fruit from farms in Vietnam, to consumers in Australia.
Ethitrade’s mission is to power inclusive economic growth on a global scale. By digitally uplifting millions of emerging economy MSMEs with provably authentic products and services into global direct-to-consumer marketplaces, whilst maintaining the role and relevance of sovereign regulators, we aim to unlock and support multi-billion dollars in new and inclusive global trade.
Ethitrade is proud to be partnering in the delivery of an Australian aid initiative implemented by The Asia Foundation, Vietnam on behalf of the Australian Government.