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Report

Teaser, summary, work performed and final results

Periodic Reporting for period 1 - QuidProQuo (True digitalisation of all transactional administration in the trade value chain through smart legal contracts.)

Teaser

Summary

Access to finance on reasonable terms is paramount to enterprises making the investment necessary to achieve their potential, maintain their competitiveness and drive economic growth. However, many enterprises, in particular Small and Medium sized Enterprises (SMEs), face significant difficulties in obtaining the financing they need in order to innovate and grow. This is despite the important role SMEs play within economies. In Europe, they are the backbone of the economy representing 99% of all enterprises. And, in the past five years they have created around 85% of new jobs and provided two-thirds of the total private sector employment in the EU.
We have developed DIP, the first product of the QPQ Digital Financial Network. It allows the issuance of, investment in and trading of fractionalised assets and economic rights in a cryptographically secure tokenised medium that is scalable, compliant with financial regulations and does not require the use of a pre-payment â€˜coinâ€™ to act as an intermediary proxy between the investor and the asset. Access to finance is made only on the empirical factors that make provision of finance compelling with diverse asset pools, liquid markets, digital trade and governing code ensuring transparency, predictability and trust. QPQ DIP offers finance at lower and fairer costs that directly relate to the risks involved in the opportunity and hence becomes a straight forward objective economic evaluation. It also diffuses finance pools allowing for rapid deployment of finance across sectors and geographies, decompressing the concentration of finance. No longer is provision of finance affected by geography, size and age of an enterprise, it is based on quality and timely data that allows a more permissive credit process to follow at lower risk levels.

Work performed

During the feasibility study we identified the following:
1) DIP would be the first application of the QPQ Digital Financial Network as it can be the quickest to marker and cheapest to develop.
2) We developed the product development plan and assessed resources necessary to achieve commercialisation of DIP.
3) DIP nevertheless has a huge market potential and 16 enterprises we spoke with were very interested in the offering.
4) A deep dive competitor analysis proved our unique offering and competitive advantages.
5) We developed a regulatory pathway to commercialise DIP.
6) We defined an IP strategy to ensure we can commercialise without infringing on other IP and maximising our own IP position.
7) We analysed out internal competencies and capabilities to undertake the development and commercialisation plan, and as a result, our team was expand from 8 to 18 to fill in all the gaps.

Final results

DIP is a key enabler in digitalisation and democratisation of finance. It reduces the costs and barriers in accessing finance allowing enterprises from any location, and of any age and size to access the finance it requires to grow and innovate. At the same time, it opens investment opportunities to an open pool of investors, removing intermediaries and selectivity. DIP will accept Fiat currency and we are also pursuing full regulatory approval in the EU, UK and USA to act in a fully compliant manner.