Market Network Exchange (MNX) has created a library of web based business applications that can operate on or off the blockchain, facilitating traditional correspondent banking, reciprocal trade, or crypto-currency transactions.
We have applied the 'zero trust' IT network security model to the supply chain systems design. That means manufacturers can gain a level of visibility never experienced before, now available due to improvements in IoT devices, cloud computing, AI, blockchain, and distributed database technology.
MNX reduces the costs and increases the security of your manufacturing, supply chain, and global compliance processes through a hybrid IT solution encompassing secure distributed databases and blockchain.
A total blockchain solution does not allow businesses to keep certain critical data private. MNX hybrid blockchain solution keeps business critical data private, off the chain, and uses the blockchain for transaction verification.
Business Solutions and Workflows
MNX offers web-based software and supports rapid prototyping and production level deployment of complex systems related to: private social networking, compliance discovery and reporting, report generation, sourcing and procurement, vendor management, demand forecasting, order management, order fulfillment, inventory management, data analytics, supply chain, export / import, manufacturing execution, and quality assurance. Solutions are tailored from our developed repositories offering fast deployment and economical technology change (server virtualization to cloud computing), application change (legacy to Java migration) and operational performance improvements.
Trade Exchange Management
At the core of MNX technology is a customizable trade / transaction / order / request processing module that can operate in the cloud or on the blockchain, in traditional correspondent banking, cross border transaction, escrow, credit, reciprocal trade or crypto- currency transaction environments. Utilizing the AJAX method to connect to servers reduces waiting time and accommodates high- speed trading/order/request situations.
Utilizing the AJAX method to connect to servers reduces waiting time and accommodates high-speed trading/order/request situations.
Transaction Processing Template
MNX software was designed to monitor transaction progress and report on transaction updates, in real time, on web-based dashboards, or through automatically or manually generated PDF reports.
Transaction and Order Management
Transaction processes within the MNX platform can be fully or semi-automated.
For example, in an instance where there is a marketplace for buyers to bid on items for sale, the buyer user finds an item in the catalogue/marketplace and indicates interest by clicking a button and entering an offer price/trade. The offeror receives a message indicating the potential trade. An interface is available allowing the offeror to accept, deny, or present a counter offer. Once the offer is accepted, the necessary deliverable can be executed on an interface, and then the transaction is recorded in the accounts. Users are able to add files to the transaction along the transaction life-cycle and add additional parties or service providers involved in the transaction. The Exchange admin has an option to activate notifications of trades and the terms of the trade, and the admin may confirm/facilitate the completion of the trade.
MNX offers a Marketplace Module that provides:
(a) administrator access for managing the catalog and modifying listings categories and listings;
(b) client-side code to provide for the listing, browsing, searching, ordering and requesting of catalog items.
A user is able to list product and service offerings under a given catalog item. Other authenticated, authorized users may browse offered items, to express interest in an item, to request a particular product or service category, to buy listings and negotiate the price of listings, offering currency, alternative currency, crypto currency or other listings as payment. An administrative email notification may be sent to Exchange administrators and listing owners notifying the receiving party of a given request from the listing viewer/potential buyer. In that email, relevant information regarding the offeror and item offered, and person who is interested may be presented.
Accounting & Pay Stream Management
Accounting features within MNX software support tracking pay flows and account balances. Administrators have abilities to record transactions and the record appears in necessary accounts. Software users may view their account status(es)and balance(s).
MNX developed a multi payer / multi payee pay stream which allows for the tracking of multiple funding sources being distributed to multiple destinations as a single event. This methodology allows, for instance, the combination of one or more goods and/or services along with additional currency as a payer stream, and the collection of tax, broker fees and commissions, and net proceeds as payee streams. Each stream is defined either as a fixed value or as a fraction(percent) of the total value of the stream.This methodology adds an additional layer of detail to accounting to not only have a ledger, but to retain the entire history of each item in the ledger.