In the ever-evolving landscape of international trade, where tariffs, regulations, and compliance issues can make or break businesses, one startup is aiming to revolutionize the game. With President Donald Trump’s latest tariff announcements stirring up global markets, a small but mighty company called Watr has stepped into the spotlight with a bold claim: they have the technology to automatically track tariffs on goods entering and leaving the United States using their blockchain platform.
Now, you might be thinking, “Another tech startup making big promises?” — and you wouldn’t be alone. The world of web3 startups is often filled with lofty declarations that sound impressive but lack substance. However, Watr seems to have some real heft behind its claims. Formed by a team of former executives from energy giants like Shell and BP, as well as financial powerhouse JP Morgan, this isn’t just a group of tech-savvy dreamers; these are industry veterans who understand the ins and outs of global commerce.
Led by Maryam Ayati, whose expertise in global origination and investment at Shell Trading speaks volumes about her knowledge of the sector, Watr has already garnered support from a cadre of crypto VCs and industry leaders. While specific details about their investors remain confidential for now, whispers in the tech world suggest that Watr has secured significant funding to propel its ambitious vision forward.
In a recent conversation with TechCrunch, Ayati shed light on Watr’s innovative approach:
“We will also soon be able to augment reported data with machine-sourced data from satellites… watching to see where commodities have come from…”
This integration of cutting-edge technologies like satellite tracking into their blockchain platform could potentially revolutionize how we monitor commodity flows globally.
One key aspect that sets Watr apart is its emphasis on trust and transparency in an industry often plagued by opacity. By utilizing blockchain-based tools such as decentralized IDs for institutions and digital fingerprints for raw materials, they aim not only to streamline trade processes but also to enhance traceability throughout the supply chain. In Ayati’s words:
“It’s about transforming how trust, traceability, and liquidity work in the real world.”
The timing couldn’t be better for Watr’s innovative solution to enter the market. As global trade faces uncertainties due to tariff wars and geopolitical tensions impacting supply chains worldwide—accelerated by recent events like Brexit—the need for efficient mechanisms to navigate these challenges becomes increasingly urgent.
But what exactly does Watr bring to the table? At its core lies a sophisticated system designed not just for tracking commodities but also for ensuring compliance with regulations such as sanctions and tariffs. By cross-referencing data from various sources—including satellite imagery—to verify the origins of goods before transactions occur, Watr aims to prevent inadvertent violations that could result in costly penalties or disruptions down the line.
Moreover,
Watr’s migration
to Avalanche blockchain network represents another strategic move aimed at enhancing scalability within their operations. Avalanche’s architecture allows companies like Watr to tailor their blockchain solutions specifically for industries like commodities trading—an approach that aligns perfectly with their focus on addressing sector-specific needs effectively.
While blockchain technology has been heralded as a game-changer in various industries before—such as agriculture or finance—the road is littered with failed projects that fell short of delivering on their promises.
Keld van Schreven
, a prominent figure in web3 venture capital circles through his role at KR1 shared his perspective:
“If Watr can truly bring pre-trade tariff validation ‘onchain’… this could mark a serious inflection point.”
Van Schreven emphasizes that while many startups talk big when it comes to supply chain innovations,Watr appears poised—with strong backing and an experienced team—to turn rhetoric into reality.
As we await further developments from this intriguing startup,it remains clear that its success could pave new pathways in reshaping how we conduct international trade—makingsuch complexities look easy-breezy!
