 Awesome. Perfect. So Tom, would you pick off the meeting when you're around? Or should I start? I'll let you rock and roll, Andrea. I love rock and roll, so I'll go first. Hey Andrea, I'm sorry, we're still waiting on Steve, he's trying to get in for whatever I'm in. Nice seeing you Steve, by the way. You too. And welcome, Ray. So let's go. Let's go to rock and roll. First, very quick introduction today. We're gonna touch on topics with trade finance and digitalization of trade finance in CrossFit ESG. So this is DeFi and ESG entwined. So Lee and I, Lee's wrong, we've got to bring to the few weeks back in time and we started chatting. I found out some interesting things about him and being using some stuff from a high collager from Linus Foundation. So I decided to back up his project and grant him a space here in this community because I think it touches on some toxic topics we've been digging up for since the beginning of 2022. So I let the stage directly to the boy team for believing in the speech. Welcome guys and nice to hear from you all. I'll leave it on to you, Andrea, if you want to go to the start first, just tell me what you're doing on your end, will avoid. Sage is yours and welcome, by the way. Thank you. You're actually going to pass it right over to Lee to get us all introduced. Cool. So, listen, welcome to this little chat. Firstly, I'd like to introduce myself, Lee Turone, CEO of Boy Finance and intro the rest of my team. I'll leave you on to Andrew to introduce himself. Hi, I'm Andrew. I'm a CFO boy and I've been in the financial financial services industry for pretty much my entire career. I've been working with hedge funds as well as administrators. My latest sort of stuff has been working on some projects where we're really integrating a lot of crypto related investments and things like that into backend systems. And so a lot of these funds that we work with really have been getting crypto funds up and running. And so obviously, we need to service those. And so that's, so, you know, quite recently, that's sort of the projects that we've been working on. You know, work for several major global firms, financial firms, as well as accounting firms and so on and so forth. I think I'll pass on to RZ next. Hello, very nice to be here. So my background is in banking, international banking with special focus on trade finance, syndications, asset generation and secondary market transactions. So for the last few years, I've been working in blockchain ecosystem and I've been working with Boy for the last two years as an advisor on banking and trade finance. So on to Steve. Hi. Hi, everyone. Stephen Matthew. I'm the maritime and ESG advisor to Boy. I have a long history in the marine industry, shipping industry, a marine engineer, a shipping lawyer, and have been involved in clean tech for the last 14 years, based predominantly in Hong Kong. I have a particular passion for the oceans, but also ESG and how it's to be applied in the coming days, months, years in order for us to justly transition into a world that is going to be still around in the way in which we like to enjoy it. So thank you. Nice to be here after you, Lee. Cool. So everyone's given everyone's the whole tip of it. This is the small part of the team that's just focused on our discussions today, but we have an extended team as well. So yeah, hopefully one day you'll get to intro to the rest of them. I didn't say about myself, but myself was on an FX background, so in finance and then moved on to FX swap stallions. So the whole history of finances and exchanges and that kind of thing really has kind of led me on to where we are here today. So on that note, I was going to tell you a bit about how we got started. And I mean, that stems back from us, my position within the financial markets to see that there was a clear disruption or clear evolution that was about to happen, which we all kind of know, or people have become more aware of it now with the digitization trade, but from that whole arena of paper-based trade and inefficiencies and global trade, which then became highlighted. I greatly appreciate it. I don't want to say greatly appreciate it, but to us it was a good moment in which what I called forced adoption was to happen. And that forced adoption where it became longer from COVID, and that whole arena around obviously COVID and the slowdown of trade, etc. So that kind of really, that forced adoption was pretty strong really for us all. It kind of moved up from there from that forced adoption to the need for the digitization of trade and trade finance, which leads us on to the growth of trade finance gap due to COVID and other geopolitical and now geopolitical issues. So that growth of trade finance gap, which now stands up at plus $1.7 trillion. So it kind of looks like, where can we go from here in terms of what we want to do? We want to digitize trade. What can we do with these blockchain technologies? How are we able to apply this? So then that became one of our main focuses was to be able to digitize trade, digitize trade finance, and reduce that as a name to reducing that massive huge trade finance gap. And there's a lot of stuff that's happening now which is focused around digitization of trade from the ICC. So this was kind of, we've been working on this before that was happening, but even I think everyone knew in the environment that this was going to happen or at least hoped it was going to happen in this forced adoption and meant that it happened a lot quicker and which we're seeing now today. So one of the other things that we kind of looked upon was as we go back to the other slide. Yeah, one of the other things that was that was very relevant to us and was in fact the emerging markets and where we were able to best be suited to try and if we were at the point when we're able to issue trade finance, digital trade finance, where we'd be best suited, where it would have the most impact. So we kind of looked at focusing on emerging markets, SME markets in Latin, Africa, EMEA and APAN. So yeah. So let me look at the problems that we saw with the digitization of digitalized trade, the ability to then issue into trade finance. How could we do it with the use of the technology that was there? When we first started, it was a challenge. People sort of mentioned how you're going to, that's a whole lot of work to be able to do. You guys aren't going to be able to do it. And back back initially, when we first started, probably rightly so because there was there was like where do we go from here because there is it is such a huge arena. So we were able to, we kind of over the over time, we've actually been able to narrow down our focus because there were other companies, businesses that would support becoming a more mature blockchain space, more mature use of digital assets. And that ability meant that we could streamline and down to the things that we were able to focus on. So we kind of been able to focus on liquidity. So as a focus, what can we do if we're able to try to reduce the trade finance gap, where I want to have key focuses was to introduce new forms of liquidity. So then with the evolution of DeFi, the use of tokenization of assets meant that we could actually pull link bridge into these DeFi pools, which meant that obviously there's a huge amounts of third party liquidity and democratized liquidity to be able to introduce into reducing the trade finance gap and trade finance. But the use of to be able to do that, we needed the use of interoperability by connecting to multi chains, public change, private chains for the relevancy of those protocols. So we're able to go, when I was going to public chains, there's huge amounts of liquidity, which are now involved from previously from non regulated to now we're seeing with the introduction of asking institutional etc the ability to tap into institutional regulated forms of liquidity. So that also then moves on to the use of private chains for data privacy storage of documentations, which clearly within financial transactions and trade finance, these are information and documents that need to be kept private to to avoid all this sort of problems that really happen these days, which I'm talking about the terminology fraud and other regular regulatory compliance issues. This digitization helps us also then to focus on risk mitigation and remove risk for banking and SME growth. So one of the other things that we really focus on obviously the main focuses that we had in the discussion that we've had the topic of discussion today has really been around ESG. Now, for us, it was one of the most important things that we could we were had the ability to introduce. So for us creating this ESG solution, a SASB standardization meant that we could not only introduce finance, liquidity, digitization, but we could offer it at ESG stand stand up. So we basically can have the ESG finance that this was really, really key for us to be able to and we actually really pleased that we're able to introduce this to create an ESG sustainable finance. So yeah, move on. So as I've said from the slide before, to be able to do this, we meant us connecting with different forms of partners with both for both in regulatory space, which leads on to banking, as well as enterprise grade solutions to enable that regulatory viewing. So we're able to, for example, use of hyperledger fabric. Now, there is a layer of firefly. So with that use of firefly, we're able to view audit manage all the transactions on various blockchains, not just one, not just single blockchain, but multi blockchain. So we're able to see what's happening on our public chain, as well as on say quarter, as a private chain. So that audit layer really puts in a regulatory space with which we're, you know, it's paramount again for us. Next slide. Yeah. So as I said, the use of firefly for the audit layer is paramount. On top of that, there are we've also there's introduction on hyperledger, the use of trade lens for digital, which comes back to the digitization of shipping documents. Again, without that, we wouldn't be able to necessarily do as much as we could. That digitization of shipping documents means that on a private chain means that ability to have the data only shown to the relevant parties, which again within supply chain, trade finance is paramount. Next slide. So going back to the use of the various blockchains, that means that we're able to go and also the other relevant institutional grade solutions means that we're now able to move into an arena again, regulated where banks and and other regulated finance institutions are able to engage into trade into trade finance, but from a decentralized democratized standpoint as well. So with the ability of those of the private blockchains, we can then go into regular compliance privacy around data, risk mitigation, or civil transparency. And one of the key things that we're going to do is to enable ESG and sustainable finance. This also enables us co financing. So you're able to syndicate financing for banks and to defy and to see fine, which means that there is something that is again is very, very key to ours and which I'll see will be speaking about shortly. But the ability for banks to co finance means that they're able to have a juicy risk and exposure. So the introduction of these is a huge advantage to banks finance gap. And it enter into the bank, Ozzy. So Ozzy, thank you very much. We talking about the existing problems in global trade finance, the major problems and banking, and then what offers to SMEs and banks. And then I will touch up on the S side of ESG trade is the bad end of global trade needs financing right now. SMEs accounts for almost 90% for companies around the world, but most of them let access to affordable trade finance as banks are unable to meet the demands. Banks and in principle tend to focus processes, credit histories and less impact on their cost of capital. Of course, geographic political lens. And also banks and corporates can't be launched in emerging countries. So as of 2022, the global trade finance gap reached $7 trillion and a very big portion of this amount belong to SMEs rejected to get financed. Another issue, a big issue as we all know, the trade and banking cannot cope up with the opportunities offered by noble technologies. The documentation processes are manual paper based, slow, long, expensive, prone to human error, dependent on intermediaries, many, many archaic elements combined together. So this is where blockchain comes into the picture. So blockchain combines three different areas, computer science, economy and law, three fields which have not been used for common objective before. So it allows a lot of advancements to the existing technology used by banks. So if someone holds a 10 pound on the blockchain, an information chain identifies every trade that that 10 pounds has been involved in. So this is very, very different than using PDF documents. So using PDF documents is not digitization in order to have need to be versions as reliable. So of course, a lot of banks are investing in blockchain and blockchain's ecosystem and all the time, one of the biggest banks in the world estimates potential savings in banking each year is going to be around $20 billion. So what Envoy offers to do with blockchain and decisions it offers, if we can go through the next, okay, thank you. So as Lee mentioned, there is on a single platform which is secure, auditable and transparent and it enables end-to-end supply chain by tokenizing LCs and converting them into tradable assets, of course, which is also interoperable with public and private blockchains connecting to another very, very important feature of the platform is monitoring ESG and sustainability. I will touch upon S side before I leave the word to Steve in a minute. But the biggest advantage of Envoy platform is banks and corporates can treat it as a catalog and just pick up different combinations for different use cases. So on Envoy, everything is modular, it can be added, APIs can be added or removed, which gives a huge flexibility and practicality. So in terms of financing opportunities, tokenized LCs and smart contracts, they enable products which were not available to SMEs before through DeFi and also remodeling of existing banking products. So Lee mentioned co-financing and syndications. So under the current market conditions, syndications require extensive due diligence and they need to be arranged by different banks. And also there are a lot of underlying, high underlying costs associated with the documentation and legal expenses. So in order to justify those expenses, usually the amount generated is going to be over a certain threshold, which is usually at least 20-25 million dollars. So this of course eliminates the opportunity for SMEs and any company which cannot trade in these big tickets. So that's where Envoy and the platform and what platform comes into the picture. So we are able to offer to any SMEs or any corporates, any size of company actually, any ticket to syndicate with different finances with banks or with other DeFi suppliers. So on the other side, in addition to co-financing, we can offer secondary markets, trading opportunities, bundling transactions and also as the platform evolves, pre-financing and post-financing are also possibilities that can be considered. So overall, what Envoy offers to banks is definitely a lower lending risk. So trade finance is a low risk asset class and the transactions are based on the flow of physical goods and services. But the risks are further reduced due to transparency and elimination of intermediaries. The operational costs are decreased. Processes are automated, which lowers human error risk and also automated audit function provides a historical record of all activities for each customer. Immutable records increase security, due diligence is simplified and enhanced, which makes banks' lives much, much easier because onboarding is a big hurdle, a lot of documentation. If you consider that SMEs are not digitized either, all the paperwork that are submitted by SMEs, having them digitized and onboard makes banks' lives much, much easier, especially for the assessment times and credit reviews as well. So in addition to all these operations to other markets, which gives them the opportunity to maximize and simplify onboarding processes, they can reach more customers and increase their customer base and market shares in different parts of the world. So definitely access to, larger access to finance on the list, transparent cost of finance, science, much more. Envoys, well, the vision is to provide financial inclusion and S side of ESG is very, very crucial to us. So I will try to give a few examples of the benefits that we're offering on the S side. Can I ask a couple of questions? Of course. Yes. So the catalog that you mentioned a couple of charts before here, the catalog is that's kind of a standard issue. The catalog in a sense of here's the kind of things that you as a bank could offer. No, of course, go ahead. Yeah, I can speak to that. So in terms of the catalog, basically the idea here is that our ecosystem that we're creating has a lot of sort of stand alone pieces to it. We all know that supply chain from beginning to end is a massive operation. There's so many elements to it, so many stakeholders, so many players, so many things that are involved that have to happen in concert for all to work from A to Z, right? And so each of these different players, each of these stakeholders, aren't necessarily involved in the entire process from the beginning. In fact, probably none of them are. So the idea of having this catalog, where we can have these standalone products, which were, for example, if a bank has their own due diligence process, but they don't have any ESG application, well, they can come onto our platform and use the ESG application in and of itself to generate reporting and things of that nature. Now, you may have another bank, maybe like a regional bank, for example, who doesn't have any of those facilities on their own, well, they can jump into our ecosystem as a whole. They can then take advantage of the financing system platform that we have. They can take advantage of the ESG system. They can take advantage of the due diligence system. All of those things working in concert around smart contracts and automation to really streamline a lot of their processes. So it's really a pick and choose. You can use just one of our programs. You can use all the programs. It's really up to your needs as a consumer, whether you're retail, whether you're corporate, you're an institution, whatever. So in effect, it's templates that all these banks, financial institutions can use. Absolutely. And then standardization. Standardization is happening. So when it comes to the catalog, the idea of what we build is a series of solutions that create an end-to-end transaction, right? So for example, you're able to, you know, KYC and onboarding, the DeFi pool for democratized lending. ESG solution, which enables, all this running series, means a lot of this. You're able to then offer an ESG or as well as carbon scoring, you're able to then also sustainable finance. You add it to the digital lending solution, and then it comes back to having a complete end-to-end flow of ESG or sustainable financing. Again, as Andrew said, if you wanted to basically, we onboard a bank, and that bank has 50,000 corporate clients or business clients, and they want to give those ESG scoring, we're able to run those through so that they end up with SASP certification for each of those clients. Okay. Good. That helps. And then I guess one other question. If I'm an SME in Singapore, for instance, and I want to ship some stuff to DRC, you know, and I want some trade finance. Am I seeing the envoy platform and where am I going like a bank and I'm kind of shopping amongst a bunch of banks? Yeah. So one of our products is this trade finance marketplace. The idea being that as they like, we call them, you know, if you're a buyer, for example, or a seller, you know, you have a contract, but you're seeking financing essentially, right? And so we have this trade finance marketplace where you can essentially list your contract. We essentially go through, when we tokenize the whole thing, and financiers can then log into the same platform, look around, shop around for finance opportunities. They can then finance what makes sense to them. And then if you're sort of subscribed to the whole ecosystem, you can then start tracking things. You can track where ships are going, where goods are. You can obviously run the AML, KYC, all the DD processes and everything so on and so forth. Prior to that, they're prior to that as part of the onboarding for us to offer the finance, what would be, they would come into our marketplace, but to enable that, they would have to have the shipping documents, the EBL solution with trade lens. So they don't have shipping documents. What those shipping documents, this sense with the sensors into our algorithms and to enable and on offer the trade finance, whether it be from bank or from... So that's how you're doing the onboarding is via trade lens and saying that's about the story. Partial onboarding, but partial onboarding. It depends on which stakeholder you are, where you would enter the ecosystem and where you would essentially interact. Okay, good. Yeah, that makes sense because I was thinking through the letter of credit scenario and how do you make sure that it's not fraudulent, et cetera. Exactly. Yeah. So again, it goes back to the discussion we had and one of the points will be, we continually pick a big pick upon. It's, we can't do it all, right? And this is one of the things we had, people began before, you can't do all this. Yeah, you know, we can't. Right? So then it's picking and choosing. You see other LC solutions like Contoro, et cetera. There you go. And then I'm going to try and do this. This is why part of the IBM immerse behind trade lens for us to do that. That's their domain. We're not even going to try and do it. It's not what we do. We're on the financial side. And so, yeah, so that's where the usage of the use of the third party partners and probability between other chains is how it works for us. So I think, you know, this is the time, Tom, you guys finally find those great questions. So Arzu, if you want to take it from there? Yeah, Arzu and then we'll just, Steve. So I will briefly touch on the S side of ESG as well, and then lead the way to Steve. So Lee went through this slide, but I just want to mention where the areas that we're focusing on. So basically emerging market corridors are priorities. The importance of these areas are because of the potential that SMEs carry and also the benefit that the blockchain and more project is going to bring on the social side. This includes female inclusion to businesses, female inclusion to business world by supporting small businesses, democratizing trade finance by enabling access to small loans for all sizes of companies, closing trade finance gap, generating new businesses, increasing employment, decreasing poverty, creating social justice, distributed workforce, creating distributed workforce, and community reinvestment. All these aspects of S are very, very important and key, especially in the emerging countries, and these are the areas that we are focusing right now. So here I'm going to lead the way to Steve to talk about E and G of ESG. Steve, on to you. Thanks Arzu. So ESG, global standardization, basically we've come from a place in the world where it's a non ESG world and it's fast becoming one. What will then follow from that will be standardized world of tomorrow. We're not quite there yet, but we're making great strides to get there. That's because the world's increasingly requiring transparency and integrity through the entire supply chain. ESG compliance with recognized standards will provide just that. VOI is building the tools to empower all stakeholders to have trust in the system. Next slide. So ESG understanding and engagement is no doubt growing and that's because businesses are getting on board ahead of what could sometimes be called the least or guided under ESG. There's multiple ESG frameworks at the moment with which you can comply. Some of them are quite complex. What we foresee happening is that they will be somewhat standardized and improve the more that they are used, the more that they are understood. As I said, it's currently largely unregulated, but what will happen with the regulations is there'll be no doubt compliance to ESG standards. Disclosure will be extremely important and transparency and a lot of this will be to foreshadow or to reduce what's called greenwashing, which is of course something that's done to show that you agree or sustainable, that you're not really, all you're doing is ticking a box. ESG in its proper form goes much deeper than that and that's the journey that everyone's currently on and which VOI hopes to be and is at the forefront of and hopes to continue to lead that. One of the ways that probably the main way which it will happen is through technology improvements, automation and AI that continues to improve to assist in this reporting, disclosure, risk management. There's a lot of data out there. There's a lot of data that's going to happen efficiently and effectively is through the continually improvement of these technologies. What currently goes on and this is where greenwashing is important to regulate and stamp out is in order for the world to work in a sustainable manner, currently there's a bit of a green premium required to be paid. That's to make up for all the amount of time that we've been able to use resources from the earth without paying full cost of those resources. Now the cost is reducing as we are getting into that but what it does is those that claim to be fulfilling their ESG requirements but are not doing that puts them at an unfair economic advantage. That's one of the main reasons why this regulation will continue to increase and improve and become harder for people and businesses to avoid. This is what VOI is doing. We're being built on a building ecosystem to ensure that trust is maintained in the whole system. Next slide. How will VOI do this? Through the trade finance or the supply chain where there's three main players which are finances, which are corporate banks, insurers, logistics companies that covers everything from land, sea, and air and all the intermediaries that facilitate transportation in those areas and of course the suppliers, the commodity houses, the farmers, the manufacturers, things like that. Let's have a look at one little aspect of logistics area which is my background which is shipping. Now in order for shipping to live up to its pledges there's a lot for it to do. Shipping is totally powered by fossil fuels. Let's look just at the environmental issues relating to the shipping and the major one which of course is climate change. Shipping has pledged to reduce carbon emissions by 50% from 2008 levels by 2050. Now this isn't an net zero but just as 50% because people know the difficulty shipping will have to reduce its carbon emissions while still making them to maintain global trade. Cargo volumes will grow by 130% by 2050 on current forecasts. Cargo volumes have grown fourfold since the 1980s so you can see how much of a growth has happened since 2008 to now to which emission levels have to go back to before you can then start to look at a 50% reduction by 2050. The big issue is there's currently no capability to replace fossil fuels at the scale required. Shipping is an area which would be rife and easy to understand why players within it would seek to greenwash to a certain extent because it's a very very difficult problem. I'm not saying this is a loan to shipping. This goes throughout industries, throughout economies globally. One thing they can do is focus on operations to reduce carbon emissions whilst purchasing carbon offsets to bridge the gap until cleaner fuels are available. What gives people, consumers, governments faith that they're doing that as transparency in the measurement and the measurability of their reductions. Now the only way that that can happen is through robust ESG reporting and robust ESG regulations. So we're looking at basically this aspect throughout the entire industry. What Boye hopes to do and is doing is bringing those onto its blockchain and into its product, its ESG product. Next slide. You can see there's not only the emissions issues that are plaguing the maritime industry, although they're not plaguing, but they're going to need to be reported upon. As compliance and financial risk for changing regulations and sanctions, there's vessel tracking, screening inefficiencies, there's illicit activities, the shipping industry's global, that's often in the high seas. That's difficult or easy for companies to try and get around some of the regulations that are in place. Now looking at the ESG and Boye ESG screening for suppliers and corporates, we can see that obviously emissions is one of the really big issues that the world's facing, global greenhouse gases need to reach net zero. We're not on track to do that. That's one of the scorecards and one of the ones that's heavily weighted within the Boye ESG rating system. Energy management. So as I said before, it's going to take some management to reduce, to get the low hanging fruit, to make those greenhouse gas reductions quickly. Ecological impact. So this goes from everything from forest management to soil management to regular pollutants and the way in which products are produced. That of course includes the mining industry. There's a focus. The world has a focus on mining. A lot of that's hidden. And so one of the things that needs to be done is a close look at the manufacturing process from mines all the way through to the end consumer. And that obviously through mining, there's a close look at waste and hazardous materials. As for the governance side, we look at business ethics and competitive behavior. So antitrust, price fixing, other such things which are unethical. The management, looking at boards, looking at the operational boards, you're looking at vested interests. You're looking at regulatory environment under which they operate. So not all countries provide the same levels of regulations. One of the things that is very interesting about the way in which ESG's envisioned to work is that there'll be a level playing field. Yes, there will be some governments that maybe a little bit more lax in their regulatory policing of certain instances, but to engage in global trade, you have to reach a certain bar across the ecosystem. And of course, you're looking at safety and accident management and sanctions is another big one, which is of course very prevalent in today's world, given what's going on, what's happened to Russia after its invasion of the Ukraine. And you don't want to be on the wrong side of trying to avoid those sanctions. How do we do it? So basically, we gather data from over 47,000 publications and news sources and we use the SASB framework for scoring on each of the ESG elements within that framework. What that gives out is comparative screening for individual companies within industries and at ranks in performance of courthouse and against those peers. And the screening is involved for key sustainability topics. I won't go into what's involved with the SASB framework, but that's probably the best known or one of the best known frameworks that there are that seems to, from my point of view, cover the key areas robustly, but also does that in a way in which it's still operable and still as user-friendly as it can be for the difficulty in gathering data in relation to a whole load of data points to then come out with a framework scorecard. And then it looks at this impact and how the score it looks like. And next slide is this viola environment, who we all know viola is a water company. It's basically there to help manage not only water but waste and many other issues. So it's an environmental company, so it's starting at the right place. But of course, there's many other areas that environmental companies have viewed. You look at Tesla, which has been in and out of the ESG ETF in the US because of various ways in which it mines, nickel or perhaps labour standards, even though at its heart it's trying to reduce emissions, which has seemed to be, well, it is a good mission for a company to have. But at the end of the day, as I mentioned with blockchain being able to put the scorecards on their transparency, and voice committed to keeping abreast of best-in-class technology to ensure we maintain the leading position in clean green trade finance. So I'll hand over to Andrew who'll talk a bit more about the voice and envoy technology and products. Yeah, thank you. Absolutely, like Steve said, look, technology is enabling the change right now. None of this is possible without real technology, real path to change. And right now what we see is there is a very distinct sort of movement from legacy systems, paper-based systems to digitization. That's kind of where most people are at. And it goes back to what RZ was saying where PDF is not really digitization, but that's kind of where most of the companies are at. But the next step is then to move into tokenization, getting everything onto the blockchain, because that ultimately enables smart contract automation. And by being able to automate things, we're then able to really create efficiencies, creating efficiencies lowest cost, automation reduces risk. And it brings about everything that we need in order to move the whole industry forward. That includes things like enhanced data transparency, accessible trails. And then by having all of those items together, now we can bring in institutional third-party custodians. And one of the beauties of what we're trying to do is not just change the current landscape of shipping and everything, but also of what DeFi looks like, what certain current practices in crypto and things like that, we want to move that forward into a more mature space. Now, there's no denying that there's major changes coming. Right now, we already see major financial institutions that are forming crypto strategies within their hedge funds. They're implementing DeFi solutions into a lot of the core businesses. Now, the key point here is that current financiers are really only focused on increasing profits within their existing core businesses. Obviously, that's low hander for best easy stuff for them to do and make that conversion. But that leaves the trade finance gap, the $1.7 trillion of unservice financing. So this is a massive opportunity for us to fill an untapped market segment. Money's literally on the floor. We just need to have the solution and the tool to pick it up. And so what we've sort of identified and just still down was that there's two major catalysts that's creating this gap ultimately. It's risk and liquidity. Obviously, the major banks out there, the ones that are currently financing trade, they're very risk adverse. They have very low risk tolerances and SMEs are inherently high risk. And so they're picking up the low hanging fruit. They're funding those, but the tier one companies, but by the time you get down to tier three, well, there's no money left. There's no liquidity. So that brings us into the liquidity problem. Well, banks need to spread out the risk, but it's slow. Really, banking processes, one bank still needs to take on the majority of the risk before they can spread it out. Now, so our co-financing product or solution really helps to bring that onto the front end and allow SMEs and other companies to de-risk and to get funded. And so obviously, then the other piece of the puzzle is, well, simple solution. We lack liquidity. Well, let's just find more liquidity. Well, how do we do that? Well, that's when we cap into DeFi and where, as we all know, there's millions and billions of dollars sat in crypto, but crypto is kind of its own little world, right? Where everything's just kind of happening, magic internet money, some people like to throw around. Well, how do we capture that? How do we capture that liquidity? Well, it's captured using staking, it's captured using farming and pooling TVL as a total value lock by locking up crypto value because someone had to buy that, right? Someone still had to use real-world money to buy the crypto and then lock it into stake it and lock it into the TVL. Well, how do we then bring that over into the real world? Well, in order to do that, we use DAOs and the boy marketplace. The boy marketplace gives you a place to essentially deploy capital. If a TVL is literally a pool of value sat there, well, someone needs to manage that and deploy it. The simplest solution from a retail perspective is using DAOs to deploy that cash. What we've done and what we've done is by partnering up with MetaMask institutional, we're now able to create a solution that allows that because everyone that's on there is DD, they run through all the AML processes and everything like that. Well, now we can get institutional investors also on board using our professional fund managers, using our professional institutional grade products to bring on an entirely other group of liquidity of defy investment that couldn't have happened otherwise before. And then now that we have two sort of TVLs, two different types of liquidity, well, how do we connect all this together? Well, as we were talking before, you know, obviously, there's a lot of different blockchains out there. There's a lot of different chains that all have their own TVLs. Well, we can connect them all together using cross-chain liquidity. It's all about standardization. So while everyone has their own sort of thing that they're investing, that they're purchasing and staked in, by having crushing liquidity, crushing bridges and slots, we're able to amalgamate all of that and then bring that as a whole onto our platform, onto our boy marketplace. And now we've bridged the gap between crypto and real world. There's no, in creating truly sustainable defy because what's happening right now also in defy is you're staking and you're generating a yield, but that yield really isn't real yield because there's no economic benefit behind it. They're just simply, most protocols are just minting more tokens and giving to you, which is just dilution at the end of the day. You're not actually gaining from economic standpoint, but what we're doing is we're connecting this to real world trade where the, where when you finance a contract, you're generating interest and interest and then builds up the TVL from the background. That TVL now has more value inherently within it, which can support the yields. So there's no magic. It's none of that. This is real gains here. And so, as, so we're kind of bringing it all into the new era, right? There's dire new changes. This is what we talked about before, digitization and tokenization is really what's going to get us there. Be able to do the automation and everything like that, massive opportunity in this trade finance gap. And so how do we capture that? It's again, by building the ecosystem with best in class solutions. And part of those solutions that we sort of are thinking about and building this continual innovation, right? So one of the things we were talking about before with ESG, ESG scorecards and scores, they're a thing, they're a product that sort of encapsulates, that represents a company's, they're sort of rating, right? But what we can do is then sort of build on this with using NFTs and things like that, that are actual containers that hold these sort of ratings and everything like that. And by being able to have those in sort of a built-in container, you can really easily trade and move items around. You're able to now create like an asset class and actual real world usage of something that was before just trading monkey pictures, right? Now we kind of bring it to the next level where you now are able to encapsulate say a full contract trade within NFTs, there's contract trade that NFTs would contain all the ESG data, would contain all the shipping data, all the AML, all the sanctions data, all so on and so forth, all those things together into a single sort of cohesive folder or product. But again, DOWS and DeFi, that's what's going to create that bridge between crypto world, the digital world and the physical world. And so this is actually, Tom, you asked about this earlier, how does that all sort of fit together? Well, we have multiple products that we ultimately create that fits the need of each of the players within supply chain. And by having sort of tailored solutions to each of those, we're able to meet the needs of each one of them. And then by bringing it all into a single ecosystem, everything can work in concert with each other, we've been are able to create efficiencies because that's where one of the major lacks of efficiencies are is during data handoffs or product handoffs or things like that, where you now have to go into a new system, a new place, a new thing. Well, by having it all in a single ecosystem, it can all talk to each other, it can all happen instantaneously. And so again, all stakeholders are on boarded onto the digital system. It's blockchain-based, secure, it's audible, transparent. It's all those things that we all know blockchain brings to the table. But now you have all of these players within the single ecosystem of standardization, we're all talking the same language. Now we can create a product, a service supply chain as a service product, where we can then break it down and say, look, if you need a specific use, it's there for you. If you need to see the bigger picture, for example, like if you were, say, a shipping agent or a logistics provider, you perhaps need to see some of the stuff at the beginning and towards the end, and as well as through the whole shipping process. Well, now that all that data sat there in one place, and you can access that as needed ad hoc, however it may be, you'll think about like customs agents and things like that. Well, customs can now access these things digitally. They're able to verify things digitally. We can even then begin talking about the next stage of automation, automating the customs process. That would speed things up and create so much efficiency. That's where tokenized LCs, tokenized bills of ladings and letters of credits all come into play. And then again, touching back on liquidity pools, the retail is able to now bring in financing from DAOs by using DAOs, bring in financing from crypto liquidity into trade finance. Similarly, institutional custodians and fund managers can do that on an accredited basis, on a regulated basis through our MetaMask institutional portal going through, again, they can create their own regulated DeFi product, DeFi pools and bring that into trade finals. And then the final piece of this, you know, is ESG supply chain standardization. Like, you know, at the end of the day, everybody needs to be on the same page for data to really mean something has to be comparable. It has to be, people need to be kind of on the same page. And so that's what this does. If everybody's already in this ecosystem, if everyone's already using these other products, well, the ESG piece flows directly into it. And so hopefully all these solutions that we've put together really can come into play to solve a lot of the problems that are existing now, create a lot of efficiencies and ultimately bring about a better world. So I appreciate you guys taking the time. You know, if there's any questions, we'd love to. You need a great presentation, Andrew, by the way. Comprehensive, great talking. I think we're coming up to the end of the hour, it's on. Would you like to handle this? Or are we going to do? Or should we ask the attendance to go to some questions? We're okay on our side, just to stay a bit longer if there's any questions. Sorry if we dragged you guys on a bit, right? Yeah, let's see what questions. Let's give a few questions here. If there are any, since they can stick around. And while we're waiting for that, thanks, Lee, Andrew, Arzu, Steve, great presentation, you see some of the stuff in the chat there. Interestingly enough, back in 2017, I actually did some consulting for somebody who had a kind of, they were trying to solve the problem you guys solve. So I like seeing this, your presentation here, what you're up. Funny enough, we actually started Lee and I really got talking right around that time as well, where we discussed, trying to figure out, we're in a similar industry, we saw some of this stuff. My wife is actually a logistics provider. So this is all sort of in the realm of where we were thinking, where we were headed. And we saw a lot of these problems coming up, even before COVID and everything like that. And that was really just an affirmation for us, like, hey, we're on the right track. This is obviously an issue and it needs to be solved sooner than later. And so we've been really putting our head to the grindstone. We could have done a lot of other things and made our millions and then got out of it, not really created anything. But our thought here was that, look, there needs to be real change. There needs to be something there needs to be an evolution. And so we wanted to be on the forefront of that and took our time to really thoughtfully create a product. It took our time. Tried to solve some of these things that realized that we know that we couldn't and know that we wanted to. And then the rest of the tech catch caught up. And the ICC eventually kind of catches, you know, and then, yeah, digitization. Right. You've just made a lot easier. Now we're able to do some of the things that we wanted to do. A lot of that lead work is now finally coming to a head. Okay. Yeah. Good deal. So one last thing here and look at EnvoyDeFi.com. I had a little problem finding your website. So I'm glad you put that up there for folks who are still around. Any questions from anybody before we have? So we're moving everything to Envoy as an overall company that brands, you know, on the umbrella of Envoy, we have Boy. So Boy Finance is really the piece of the DeFi pools, DeFi, and the permission DeFi and then to lending. And then we have the rest of the shows. So if you want to check out boyfinance.com, it's kind of our latest stuff around DeFi and everything like that. And then the ESG stuff now will be, that will be going live for the rest of the, for everyone for deployment and for the new websites on the ESG as well. Any final questions out there from anybody who's still able to stick around? There are congratulations basically. Representation Lee, Steve, Arson. We didn't even board everyone or we just, we've just, we've gone on so long that we've answered everyone. You have nothing to worry about. He's pitchlessly rather, you see, when you tap into the trade finance gap and you see somebody that is striving in order to fix it, this is already very sub not so many things. You said it perfectly by the way before, this is an evolution, but as I always say, and you know it by the way, this is an evolution lead into a revolution in the way trade finance is done nowadays and needs to go through that revolution otherwise. Absolutely. It's very long review. Yeah. It's long, but it's going to pay off in the end because otherwise the industry will fade away literally. It's no longer sustainable the way it's done today. It's a matter of you evaluate and you revolutionize the way you do things or you die literally and the first ones to die are small, micro companies all around board. And one of the questions maybe that I will pose you later on while we go for other meetings is that how you see the new frameworks being put in place for your solutions, namely URDT and VLPC. But I think we're going to have time to go back on these topics, guys, to dig out for more interaction to that space. It's interesting stuff. That's why I currently cherish this meeting to take place. Trade finance gap is definitely one of the arguments. I love them all since they finance in connection, especially with ESG and sustainable development goals. So I thank you guys. We go on to dig for more topics to be touched in the next meetings. On my behalf of all the group, I thank you so much for believing so many insights. It's going to be off. Cool. Thanks. Thanks for having us, Andreas and the rest of the guys. So yeah. Okay. You see, we have IHAN, I call it IHAN Bay, the salt and trade finance. We have been already talking, Andrea. Yes, yes, of course. I mentioned Andrea as well. Yes, IHAN Bay. Very nice. Thank you so much for that. You're welcome. You're welcome. And that's for the rest. We're going to be back in two weeks, Don. Have a nice evening. Have a nice evening. Thank you. Bye, guys. Bye-bye. Bye.