Stablecoin-issuance Management Platform POFID DAO Looking to Revolutionize Cross-border Trade
The world’s first privacy protection anonymous DeFi project, POFID DAO, has attracted significant attention for its privacy protection of account assets, transactional data, and smart contract input/output. In addition to public and non-public asset pledges on the chain, POFID DAO can also provide a platform for the issuance and management of stablecoins.
As a 2B enterprise-level platform, POFID DAO is actively expanding its application in three main areas: supply chain finance for cross-border trade, trusted on-chain payment solutions for e-commerce platforms, and on-chain asset management. In the future, POFID DAO will develop rapidly in cross-border trade and is expected to make a huge contribution to cross-border trade.
Cross-border trade can be a long, drawn-out process. Importers need to contact local logistics companies for shipping services after signing an import contract to obtain authorization. In addition, the importer needs to liaise with their bank to arrange for foreign exchange payment, and finally carry out import declaration and inspection, pay customs and tax etc, until finally customs releases the goods and the importer takes delivery. The process for the exporter is even more cumbersome: after signing the export contract, they need to confirm the letter of credit and contact the domestic manufacturer for export preparation. Then they need to charter and book a space, carry out export inspection, and send out the commercial invoice and packing list, inspection report and other documents, and settle the balance in foreign exchange. Only after all these procedures are completed can the exporter process customs declaration and officially export the shipment.
This series of processes involves processing cash to buy goods, contacting logistics, clearing customs, processing downstream customers accounts, purchasing foreign exchange currencies, etc. During this period, different currencies and untimely data updates often cause delays that lead to losses for both sides.
Amidst all this complication, POFID DAO offers a useful solution. Let’s imagine a real-world situation. Qingdao Port in China receives a large amount of goods from Incheon Port in South Korea every year. Both China and South Korea can use the POFID DAO platform to issue and use their own approved stablecoins while protecting the privacy of both parties. With this stable currency, settlements between ports and delivery by logistics companies do not involve difficult currency exchange issues, greatly simplifying the complicated transaction process, and making settlement simple and convenient. It is understood that POFID DAO will obtain a third-party guarantee recognized by the China-Korea Chamber of Commerce and functional departments of the Korean government. We believe that with POFID DAO, the non-governmental trade between China and South Korea will develop significantly.
Through the use of smart contract technology, POFID DAO can be used as a privacy-protecting, trusted digital asset conversion channel where real assets can be mapped onto quantifiable digital assets on the chain. With its real-world applications coming to the fore, POFID DAO is bound to shine in the future.
