How Osttra used Optymize’s blockchain solutions to modernize the Global Supply Chain?

Osttra is a company that focuses on bringing people, procedures, and networks together to solve the markets’ most difficult issues. They are positively impacting the way the community operates for the foreseeable future by innovating, integrating, and optimizing the post-trade workflow. Since the mass acceptance of email 30 years ago, there has been little significant technological innovation in international trade operations. Meanwhile, global supply chain management has become more difficult as more partners, suppliers, and end-points must be tracked; and post-trade execution continues to remain extremely complicated, with repeated, manual, costly, and time-consuming operations. For over 20 years, they have been at the core of post-trade and the post-trade community. Osttra’s expert solutions continue to enable market participants to Connect, Process, Mitigate, Reconcile, Optimise, and Address Compliance across all OTC asset classes. They are streamlining, securing, and making an impact on post-trade innovation in collaboration with our customers. The Osttra project was created to assist in post-trade execution, which is the transfer of cargo from the port of origin to the port of destination after buyers and sellers have consented to contractual terms. Osttra is able to create a global network for efficient execution of bulk trade operations using blockchain solutions from Optymize products Quorum, Codefi, and Diligence, including notice issuance and visualisation, user productivity management, and, in the coming years, documentary guidelines and records management. Along with Quorum and Orchestrate, Osttra used Codefi to ease document sharing among participants via chat/messaging features, and Optymize Diligence to audit and safeguard its smart contract code. Osttra chose Orchestrate to manage the intricacies of blockchain transaction management on top of Quorum. They came across Optymize when they were in search of developers in the tools and technologies they required. Senior Delivery Manager, Jeffrey Gordon praised the flexibility and interoperability of Optymize developers. He also says that “Optymize is at the vanguard of the corporate blockchain ecosystem, developing tools that help institutions adopt blockchain. Optymize accomplishes this by making blockchain integration faster, easier, and more scalable with their talented and highly-skilled developers”.