The AssetChain is a decentralised inventory and marketplace for movable assets, such as invoices, warehouse receipts, or vehicles. Blockchain technology is ideally suited to record information such ownership and claims related to a particular asset. The marketplace brings together sellers and buyers of movable assets as well as 3rd parties offering related services such as default insurance for invoices with an outstanding receivable amount. The AssetChain is powered by ACU (Utility token built on the Stellar Network), its native utility token used to pay for services received.
Long-term supply of ACU is fixed, without any means for mining additional tokens. Meanwhile, the ACU token has a clear utility value, being the only means of payment on Acudeen’s platform. With fixed supply and clear utility demand based on platform usage, ACU’s price can increase over the long-term if platform usage increases, all else equal.
We believe Acudeen’s choice to use the blockchain technologies Stellar and Hyperledger is valid for what Acudeen is building, i.e. a highly efficient ecosystem for invoice financing for unbanked/underbanked SMEs. With proper execution, we see no reason why ACU’s ecosystem can’t become a world-class platform and scalable to any geography.
There is a massive unmet need whereby SMEs are unable to access invoice financing, and SMEs represent 40%+ of most countries’ GDP. Blockchain is widely recognized as a transformative opportunity for SME financing, particularly for invoice financing thanks to its ability to verify invoices and prevent fraud at an efficient cost-per-transaction even for very small financing transactions. The question isn’t “if” blockchain will revolutionize this industry, it’s simply “who” will do it. Acudeen seems well placed as a leading contender.
Acudeen has access to an influential network in the tech startup space thanks to the founders’ connections with Founders Institute and the company having won Seedstars World in 2017. A key metric to watch will be the company’s ability to build a vibrant community for the ACU token, which is still yet to be proven.
Acudeen has strong management with relevant business and technology experience, including two Founders Institute alumni and executives with listed company experience. An extensive advisory board complements Acudeen’s full-time management. Acudeen may need to add influential people in each of the countries it operates in however, as is the nature of Southeast Asian business.