Blockchain Startup Maksab Launches Digital Dealmaking Platform for SMBs
Streamlining the dealmaking process for SMBs (Small and Medium-Sized Businesses) in times of Covid-19 pandemic is very essential. UAE-based blockchain technology powered startup Maksab has started a digital platform that it states will allow corporate advisors and consultants to serve and support SMEs. The company stated that its recently launched platform connects advisors and private professional investors with SMEs attempting growth capital in a virtual environment. “The platform is developed for corporate finance consultants and transaction agents known as ‘advisors,’ SME business owners, and private investors,” said Maksab in a statement.
The company claimed that its platform utilizes the Ethereum blockchain to provide confidential, streamlined, secure, efficient, and reliable transactions between platform users using the Ethereum-based ERC-20 smart contract. The smart contract provides Maksab tokens (MXAB) to be used on the network as a bridge currency and anti-spam mechanism to manage and close deals in a B2B environment.
“By adopting blockchain as an underlying transaction protocol and using the internet’s existing communication protocols, we allow deal-makers to facilitate B2B transactions in a streamlined and more efficient way. The deals that would usually take 8 to 12 months to close can now take weeks or even days”, said Mohamed El-Masri, Founder, Maksab in a statement.
“Maksab platform creates an opportunity to address the significant funding gap that SMEs are facing widely. This mechanism has never been possible before in the history of private capital markets,” said El-Masri in a statement.
The platform enables SMEs to access qualified resources that help them in stimulating their businesses’ growth. With the launch of Maksab, professional advisors and consultants can now support, guide, consult and prescribe growth strategies to entrepreneurs, and their management teams stated the company. “In the end, Maksab is all about community, users can earn rewards in the form of MXAB tokens for their participation and support of SMEs,” said El-Masri in a statement.
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