STANDAGE Inc. (Head office: Minato-ku, Tokyo/ CEO: Akinori Adachi) started a demonstration test of trade between Japan and Nigeria with the “Shake Hands Contract” service (SHC) from April 17, 2019.
In this demonstration test, we purchased five used personal computers from FAIRWAY Corporation (Head office: Minato-ku, Tokyo/ CEO: Takeo Yasujima), received an order at STANDAGE Nigeria office, and sent money using SHC.
STANDAGE Nigeria office = Buyer, FAIRWAY Corporation = Seller
1, Seller offers a trade.
2, Buyer receives the offer.
3, Seller sends details such as contract and amount.
4, Buyer deposits the specified amount on the SHC platform.
5, Seller ships the product after confirming Buyer’s payment.
6, Buyer receives the product.
7, Seller receives the escrowed fee.
You can execute 1 to 5 flows in about 1 hour.
Once the seller has delivered the goods and the buyer confirms the arrival of the goods (6), the buyer approves on the SHC platform.
Then the escrowed product price will be deposited on the seller’s wallet (7).
We verified that using SHC reduced the regular trade process to less than half, and that its convenience and practicality were high.
SHC is “fast, cheap and easy to use”,
It is a service that reverses the conventional complicated trade flow.
We will continue to conduct demonstration experiments and strive to launch SHC as quickly as possible.
4F Shiba NA Building, 3-6-10, Shiba, Minato-ku, Tokyo, Japan, 105-0014
CEO: Akinori Adachi
COO: Kenta Omori