Teaser of the company
Oftex is a consulting internationalization firm, which helps SME’s to sell their products abroad, it has 20 years of experience and it has launched a spin-off B2B Pay, S.A as a solution of a payment problem between companies.
B2B Pay will test and validate the following blockchain-based solution in the scope of BlockStart:
This new payment platform is oriented to companies that trade goods within the EU and with third countries. It pretends to substitute the old (200 years), slow, bureaucratic and expensive payment method of bank documentary credit (letters of credit). It will close a buy-sell agreement instantly instead of months and connects buyers and sellers directly and without the need of intermediaries like banks but offering the same trustworthiness and safety.
The platform uses blockchain Smart Contracts for encrypting the Buy-Sell Agreements with all the conditions in order to gain confidence and transparency in the process. For the payment we use an escrow account so it is fair for the buyer and the seller. This is an open platform that decentralizes payments between companies.
Meet the Team
Total funding received by Oftex internacionalización S.L. under BlockStart: €1,000 for Ideation Kick-off event