Michael Thornton, Founder and CEO of World TradeX, is turning his using his experience and passion to create a revolutionary new buy and sell platform focused on agriculture.
When launched World TradeX will be a global buy and sell platform to support the world food chain. There’s currently nothing like it available to help farmers sell their goods in a one-to-one transaction, eliminating the middleman. They’re envisioning the platform will be the Amazon for food.
Covering the whole proces...
Michael Thornton, Founder and CEO of World TradeX, is turning his using his experience and passion to create a revolutionary new buy and sell platform focused on agriculture.
When launched World TradeX will be a global buy and sell platform to support the world food chain. There’s currently nothing like it available to help farmers sell their goods in a one-to-one transaction, eliminating the middleman. They’re envisioning the platform will be the Amazon for food.
Covering the whole process from farmer to purchaser including logistics, finance, insurance and of course the purchase transaction all in one place.
Listen as Michael explains how World TradeX takes the best functionality of other apps and technologies (like amazon, uber and even tinder) and integrates it into their system. Farmers will be able to create profile and product cards that will be used as NFTs that can be tracked as the goods move along the process. Also, with NFTs they’re even envisioning buyers will be able to purchase future crops at today’s prices.
In 2023 World TradeX will go live in California as a beta. Once the kinks are worked out their plan is to expand further in the US then internationally, focusing on two of the world’s largest agricultural producing countries, India and Brazil.
“Everyone has to eat” says Michael and thinks once it’s up and running that the app will sell itself. Currently farmers go through brokers/agents that take 20-30% of their profit. This new system, with a much smaller flat rate and no need for the middleman, means more money for the farmers selling their products and smaller price tags for the buyers.
They’ve been working for 7 years to get the idea out in CA through trade shows and networking. When it launches, he believes word of mouth will create excitement and bring in users.
Once they launch beyond the US, they’ll have language and legal requirements to consider. Attorneys in each country will handle the legal paperwork in the appropriate languages and other translations will be handled as needed either through humans or automatic translations for things that aren’t crucial or critical.
Michael’s main advice is to “do your research” and know what the market for your goods and services is in the countries you’re looking to export to and what requirements there are to sell there.
He attended the EXIM conference to learn more about the financial programs available to international agriculture companies and farmers, and to network with other business owners doing global business.
When asked about his favorite foreign word he replied “Arepa, because it’s fun to say and delicious to eat.” An arepa is like a pancake and is typically eaten at breakfast. Michaels’ favorite type is the Columbian arepa made with yuca flour and cheese.
Links:
https://worldtradex.com/
Connect with Wendy - https://www.linkedin.com/in/wendypease/
Connect with Michael – michael@worldtradex.com
Music: Fiddle-De-Dee by Shane Ivers - https://www.silvermansound.com
