This week our CEO, Ram Krishnna Rao, and our COO, Sukhi Jutla, were personally invited to visit the Assay office in Birmingham. During this trip, they discussed how to work together to better serve our retailers and provide them with the services they need.
This is an exciting next step in the continuing growth of the MarketOrders journey.
The Assay Office in Birmingham is the home of the UK hallmarking for precious metals including gold and silver.
When gold and silver jewellery products are shipped from the suppliers, it is the responsibility of the retailer to ensure they have adequate hallmarking.
This is where the Assay office comes in. They are an independent entity which was created from an Act of Parliament and is over 240 years old! Each piece of jewellery that is hallmarked undergoes thorough checks to ensure that the consumers are assured they are getting the right quality of products.
The assay office not only does hallmarking but also offers these services:
- Assaying, hallmarking & laser marking
- Analytical testing & quality assurance
- Diamond & tanzanite grading, pearl & coloured gemstone identification
- Jewellery, watch & silverware valuations
- Training, conferencing and heritage events
We got to have a behind the scenes tour but we couldn’t take any pictures for security reasons; so you will have to use your imagination!
Rest assured, the building is guarded day and night. There are plenty of measures in place with the thanks to the volume of gold and other precious metals that pass the doors on a daily basis.
This continues to be a fascinating industry and we also see many opportunities with how MarketOrders can work as a partner with the Assay office and also how we can digitise most of the processes. Stay tuned for more progress!
A special Thank You, to the Head of Business development Natalie and Marie.
Learn more here https://theassayoffice.com/
From commodity money to the birth of fiat currency and the now worldwide popular cryptocurrency Bitcoin, money, as we know, is not done evolving or surprising us. But are these changes beneficial or disrupting something that already works? We’ll find out.
Origins of trade
Trade originated in prehistoric times. Prehistoric people bartered goods and services from each other when modern money was never even thought of.
Peter Watson dates the history of long-distance commerce from circa 150,000 years ago.
Trade is believed to have taken place throughout much of recorded human history, but not as we know it today. Commodity money, which are objects with a fundamental value like rare seashells, whale’s teeth, and cattle, was the only way people traded for many years.
As the system of commodity money evolved, it then became representative money. This first stage of currency metals was used to represent stored value by the Romans.
In the 16th century, Holland was the center of free trade, imposing no exchange controls, and advocating the free movement of goods. Visionary? You tell me!
The Great Depression was a major economic collapse that ran from 1929 to the late 1930s. There was a great setback in trade and other economic indicators during this period.
The lack of free trade was considered by many as a principal cause of the depression causing stagnation and inflation. Only during World War II, the recession ended in the United States. Also, during the war, in 1944, 44 countries signed the Bretton Woods Agreement, intended to prevent national trade barriers, to avoid depressions.
Today, trade is merely a subset within a complex system of companies which try to maximize their profits by offering products and services to the market at the lowest production cost.
Cryptocurrency, the Trade 2.0?
The evolution of trade has brought some amazing innovations and eased global commerce, but also left behind developing and unbanked countries, until… 2008, the invention of Bitcoin and its innovative manner of using blockchain technology to enable peer-to-peer transactions.
What does that exactly mean for developing countries?
It means the world!
They can now transact globally whenever they want, however they want, setting up their own prices, cutting off the middlemen, all of this just by using a mobile phone.
Cryptocurrencies and blockchain technology have already started revolutionising the way people transact and have opened many doors to third-world markets.
Nowadays, businesses can already buy and sell online (B2B & B2C), using cryptocurrencies on marketplaces like ModulTrade, Forra, and Shopify.
Have a look at this map to find out what shops accept cryptocurrencies around the world!
MarketOrders, disrupting the outdated processes of the gold & diamond industry
At MarketOrders, we understand that cryptocurrencies put the power right back in the hands of small and developing businesses, which is why we’ve decided to use blockchain technology within our platform.
Our marketplace enables small retailers to get the products they need faster, cheaper, directly from international manufacturers. By cutting off the middlemen, both parties, retailers and manufacturers, win, by selling and buying at the right price.
Our CEO Ram says, ‘Our retail customers and suppliers face unnecessary delays in receiving their products as the supply chain is held up with complicated paperwork and international payments taking weeks to settle. We intend to use the power of blockchain to digitise the documentation to process the products and get them shipped faster internationally while allowing our customers to use the MarketOrders native token as a way to settle payments in a matter of minutes rather than days or weeks.’
And that’s not all; blockchain technology brings transparency to an outdated supply chain system and ensures the provenance of the products and their legitimacy. The future is now, and we’re seizing it.
Learn more about MarketOrders here.
MarketOrders Co-Founder Shortlisted for National Digital Awards
MarketOrders Co-Founder, Sukhi Jutla, has been shortlisted in the Digital Entrepreneur of the Year category at the Digital Entrepreneur Awards 2019.
Digital Entrepreneur Awards (DEA) celebrates the best of the UK’s digital business ecosystem.
A wealth of amazing organisations, businesses and individuals entered the awards demonstrating outstanding innovation, creativity and talent.
The finalists have been announced by Business Live and Business Cloud!
The awards, now in their 15th year, cover 20 categories encompassing every area of today’s digital business ecosystem from enigmatic leadership to forward-thinking development and cutting-edge creative. The winners will be announced at a glittering ceremony at The Principal Hotel, Manchester on November 21.
Finalists in the Digital Entrepreneur of the Year category are:
- Adam Frisby, CEO, InTheStyle
- Somayeh Aghnia, Founder, Geeks
- Sukhi Jutla, CEO & Founder, MarketOrders
- Mark Roberts, Co-founder & CEO, Beer Hawk
- Gareth O’Rourke, Founder, CHO Fashion & Lifestyle
- Adeem Younis, Founder, Single Muslim
- Louis James Davis, Davis Co Holdings Ltd & VST Enterprises
Fingers crossed!
Meet the MarketOrders Team – Filip Janczak, Digital Manager
At MarketOrders, we believe that the team is critical to a company’s success, which is why we’ve decided to highlight our fantastic talents in this series of blog articles.
Today, you’ll find out more about Filip Janczak, Digital Manager and a key asset to MarketOrders crowdfunding success.
International background
Filip lived 12 years in Zgierz, Poland, before he moved to London, where he studied Media and Culture at Middlesex university. His network of friends and colleagues helped him start an exciting career within the startups world and motivated him to start his own digital marketing business, Creatos Media, which has won multiple awards.
His MarketOrders journey
His extensive network also lead Filip to MarketOrders. He explained: “I had known Krystian Ozog, Chief Customer Care Officer of MarketOrders for a long time when he introduced me to the founding team. I immediately liked their vision and ambition, even though they were just starting the business at that time. I’ve been working with the team since.”
Filip’s role involves digital channels, but not only. Here is how he describes his work: “My role as Digital Manager is to create content, manage the channels and grow the community. I also make sure that we communicate as clearly as possible about the technology we use, which can be intimidating for people outside of technology. Blockchain technology is innovative, untapped, and has great potential, but most people don’t understand it. I’m here to make sure they do.”
Co-Founders’ opinion
Sukhi Jutla, Co-Founder & COO: “Filip is thriving with MarketOrders primarily because he understands the fast dynamics involved in startups and is well experienced in this way of working. He consistently brings new ideas and innovative ways of bringing our digital campaigns to life that help the business grow and attract new customers and investors. Filip always brings a smile to his work and always finds solutions – and that’s what makes MarketOrders what it is today. Thank you Filip!”
Ram Krishnna, Co-Founder & CEO: “I have known Filip for many years. He is a hard-working, dedicated, and reliable person who goes the extra mile to get a job done and doesn’t give up when things get tough. He loves learning new things and he thinks out of the box. He is passionate about what he does. I’m extremely happy that he is part of MarketOrders and he definitely is a great addition to the team!”
Filip’s favourite quote
“Anyone who has never made a mistake has never tried anything new”, Albert Einstein.
The International Jewellery London (IJL) is the pre-eminent annual destination for the best of British fine jewellery, as well as leading brands from around the globe.
It is the global meeting place for the jewellery trade so it’s only natural that MarketOrders attended. Our COO & Co-Founder Sukhi Jutla was also asked to speak on a panel about The Future of Fine Jewellery.
The key themes at IJL focused on:
- The future of lab-grown diamonds
- The Future of Fine Jewellery
- Jewellery trends for 2020
- How to embrace systems and tech to deliver the ultimate shopping experience
- Sustainability in the jewellery trade
If you missed my panel talk here are the key highlights from my panel.
On Millennials and jewellery trends...
- Millennials shop in different ways. They are not looking to buy a product but an experience. So can retailers keep up with these changing consumer demands?
- It’s no longer seen as fashionable to buy expensive jewellery if demi-stones look just as good and are half the price.
- Consumers and Millennials, in particular, are looking for convenience and personalisation.
What advancements should the jewellery industry be embracing?
- Retailers are no longer selling a product but an experience.
- Consumers value individual attention, customization and personalisation as opposed to mass-market customer service.
When it comes to responsible jewellery manufacture, do consumers really care?
- If given the choice, most consumers would opt for responsibly sourced jewellery but retailers say this is still a small proportion of their sales.
Today, you’ll find out more about Gopi Govind, MarketOrders Chief Technology Officer.
Background & Education
Gopi comes from the south of India and started his career in Bangalore.
Graduated in Computer Science from Bharathidasan University.
Meet the MarketOrders Team – Krystian Ozog, Chief Customer Care Officer
Krys was born and raised in Poland, and in 2005, he moved to the UK. His role as Chief Customer Care Officer ensures that the products are delivered directly to customers.
Krys is a strong believer that new technologies have the power to change lives; he gave us his opinion on blockchain technology: “I am amazed and very excited about blockchain technology. It makes our revolutionary platform even safer and more secure and transparent.”
Krys’ favourite quote
“It takes generosity to discover the whole through others. If you realize you are only a violin, you can open yourself to the world by playing your role in the concert.” Jacques Cousteau.
MarketOrders has kickstarted its crowdfunding campaign on Crowdcube.com. Aiming to raise a minimum of £400k, the startup plans to use the funding to officially launch its platform.
Sukhi Jutla comments: “We’re thrilled to be crowdfunding for MarketOrders, and this funding will make a huge difference as we look to expand our exceptional team and invest heavily in updating our platform.”