Accelerate the B2B Buying and Selling Process by Building Relationships

There was a problem in the B2B space – a world of professional buyers and sellers were looking for a simple way to connect and make trustworthy deals. But, no such dedicated business network existed. So we built one!

Our social networking platform is tailor-made to find buyers and sellers the best-suited matches for their product and service needs, which are endorsed and reviewed by verified

business partners. Members are able to collaborate on projects, find new markets for their leads and needs, and conduct trades with our own Blockchain Payment Solution – the very first B2B blockchain! By enabling blockchain-based credit scoring in the B2B space, we are solving the trust and privacy issues in international trade, and in doing so, cutting the high banking costs.

Existing Problems in B2B

Noted management consultant Peter Drucker famously wrote that marketing and innovation are the only functions of a business – all other matters are costs. While Drucker’s sentiments highlight the importance of marketing in B2C sales, it fails to account for problems in traditional models of B2B sales, and vastly underplays the relationships built between sales teams and buyers.

Most often, B2B sales:

  • Are much larger transactions than B2C
  • Include multiple presentations to multiple stakeholders, many with their own interests
  • Take a much longer time to close
  • Have fewer customers available due to longstanding relationships

Keeping such factors in mind, the incredible importance of established relationships between buyers and sellers becomes abundantly clear. Rarely, however, have buyers and sellers been able to quickly and efficiently connect, resulting in any sufficiently effective marketing efforts to fall upon deaf ears during the untold time wasted seeking out the right business partner.

Compounding this problem is the issue of credibility. After spending days or weeks seeking out the proper seller & product - how can a buyer gauge their integrity? Likewise, how can a seller ensure he or she will be properly paid for the products and services provided?

In short, the underlying problem in B2B is trust. And a reliable mechanism to ensure such trust has long been lacking.

Disintegrating Partnerships in B2B Today

It is nothing revolutionary to say that the Internet has changed business in the past 20 years, and that B2B sales and marketing are among the most affected. B2B is no longer driven solely by personal deals as it once was. In fact, statistics show that buyers’ preferences are drastically moving away from the traditional buyer-seller relationship.

One major cause is that the buyers of today are not the buyers of Drucker’s generation. Buyers and sellers now are younger and accustomed to using technology on a daily basis.

“The only thing we know about the future is that it will be different.”

– Peter Drucker

TraDove is Enhancing Trust in Buyer-Seller Partnerships
This is where TraDove comes in. We recognize that the market has been moving this way for some time and that there is something to be said about this shift in preferences. But, we also see that the buyer-seller relationship plays an integral role in B2B. Rather than cutting sellers out of the equation entirely, we seek to bring their expertise, trust, and personal touch to this new B2B paradigm.
Accelerating Buyer-Seller Discovery with Matching, Endorsement, and Reviews
So, how then do sellers prove their worth to buyers at a time when buyers prefer to avoid sellers altogether? TraDove utilizes identity management to give every member – buyer or seller – a means by which to build trust and show the community they are worth doing business with. The first stage of this is member verification, which we perform before any user is ever allowed on the site.
This is then backed up by the reputation each buyer or seller builds for themselves on the site, as any user who does business with them may rate and review, leading to a democratic reputation system to publicly display their trustworthiness to the world. This resulting system is a network of verified professionals, allowing buyers and sellers to seek out business partners (or allow us to find matches for them) in complete confidence.

The Role of Sellers

“With TraDove, sellers can actively seek out buyers around the world for their products. That’s a great advantage that a B2B social network offers.”

– Kent Yan

Sellers take on a whole new role in the TraDove ecosystem, where, instead of simply presenting their products and waiting for buyers to come to them, they are able to place targeted ads, connect with buyers through profile and preference-powered AI matches, and even pitch buyers by offering them a payment for their time.

Increase Trust and Reduce Transaction Costs with the Next-Generation Blockchain Payment Solution

TraDove then takes that trust one step further with blockchain-based credit scoring. In order to provide the best experience for members’ B2B transactions, we are implementing a next-generation blockchain dedicated solely to B2B transactions, allowing us to ensure the needed security and desired privacy that existing node- transparent blockchains cannot provide, all built on a lightweight network.

Examining the payment process in the B2B space today, trust is still a tricky proposition. Now, just as countless decades before, this trust is gained through a letter of credit. There is no part of this process that is convenient. Letters of credit are time-intensive, paperwork-intensive, and they are expensive. Add to that, in much of the developing world; and for SMEs, the banking system to implement such a trade may not even exist.

Now, throw all that away and replace it with a metaphorical handshake and a smart contract. No expensive letters of credit. No time wasted on unnecessary paperwork. And most importantly, all transactions are free or low cost to the users.

This is TraDove’s contribution to the blockchain and B2B world. Members who have already connected can proceed to trade via a stable 1:1 pegged blockchain token transaction. Unlike traditional blockchain tokens, such as Bitcoin or Ethereum, this stable payment token is, and will always be, pegged 1:1 against major currencies, beginning with USD and EUR. These tokens are guaranteed liquidity by TraDove and its banking partners for buyers or sellers to trade back for their equivalent fiat at any time.

A buyer can pay his supplier, who can turn around and exchange those 1000 tokens for USD 1000 cash in hand. However, as circulation increases, and more businesses begin adopting, paying in, and accepting the token, the motivation for immediately selling them off for fiat diminishes. Buyers can pay their suppliers and those suppliers can then pay their own suppliers with the peace of mind that, at any point, they can exchange the tokens back for the exact amount that was put into the ecosystem. At that time, those payment tokens are burned from the ecosystem.

A New Era of Collaboration and Deal-making

We believe that, in such an atmosphere, business will thrive. Buyers can place their needs, preferences, and general information and quickly be matched with appropriate sellers with big data and AI. Likewise, sellers can list their items and take on a new role as expert consultants for buyers to build online relationships with.

The opportunity then emerges for networked collaboration and secure, low-cost trades between business partners across the globe.

Blockchain B2B Payment Network

Solving the trust issues in international trade