Corporation formed by scientists transforms world trade An astonishing worldwide e-trade project, SCiNet has started operations, supported by a breakthrough in platform technology developed by a group of experts from around the world. Banks and large corporations have attempted to acquire it in the past few months, aware that the platform's formula eliminates banks as intermediaries as well as the documentary credit as we currently know it, a remnant of the old financial system. SCiNet (www.scinet-corp.com) is confident its model will attract millions of companies from all over the world. SCiNet's intent is to harness the power of the Internet to unleash a commercial, intellectual and social revolution. It has placed on the Web all the details regarding the project. SCiNet, whose motto is "The World Trade System" is the transnational corporation formed by experts and scientists from several countries specializing in the high-tech production and worldwide logistics of commodities, services and raw materials. The company started operations of the SCiNet-RSi Network with seven stand-alone hubs and operating centers located in several countries and strategic regions of the world in order to service over 17 million companies in 180 countries. It revolves around an innovating system that may result in astounding changes in world trade: a platform that performs import/export transactions through the Internet by the mutual acceptance of digital certificates between associated companies. The Operating System includes a supply and demand database with over 52 million types of commodities, services and raw materials kept current on a constant basis. This formula enables the user to complete import/export transactions in half an hour instead of the forty days it usually takes by the procedures available today. SCiNet's solution has earned high praise by banks and large financial corporations, some of which have tried, unsuccessfully, to purchase it from company's CEO and his group of experts and scientists. This truly international corporation has classified in the past few years over 17 million companies located in 180 countries. SCiNet has seven hubs and operating centers distributed throughout the US, Latin American, Europe (in Madrid), Northern Africa, India, China and the Pacific Area, as stated by its executives to this publication. The system is built on a platform that makes use of artificial intelligence tools (virtual neural networks, recurrent algorithms, etc.), the essential elements, according to company executives, that enable millions of associated companies and users to complete secure transactions by means of a self-replicating network system performing four trillion operations per second. WORLDWIDE TRANSACTIONS AMOUNT TO 13.5 TRILLION DOLLARS SCiNet's Operating System for World Trade works with "constantly updated information on fifty million commodities, services and raw materials, including the automatic location of the commodity, specific description according to applicable international standards ("Incoterms"), quantities available, types, classes, dates, prices, dispatch and delivery ports, customs offices, automatic documentary credit and payment transactions, inspections and documentation with electronic receipts, controls and analysis, including all additional expenses and operations, customs, tariffs, exit and arrival terminal expenses, land transportation, etc., with transparent monitoring of the transaction, step by step, and electronic receipt issued for all documentation...". The scope and accuracy of the Operating System is such that it can control automatically, in real time, all transactions comprising world trade, the most significant and important market, which amounted to 13.5 trillion dollars last year, taking into account only the first 45 countries out of the 134 countries comprising the World Trade Organization, the corporation's CEO explained. SCiNet first classifies the companies and then admits them into the system, enabling them to trade among themselves while eliminating obsolete documentary credit procedures. "WE WANT THE WORLD TO MOVE FROM MANUAL LABOR TO INTELLECTUAL AND CREATIVE WORK" What are the objectives of this initiative? "We're aiming beyond transforming SCiNet into a gigantic money-making and money-distributing machine. This is a set of applied technologies made available for the first time to professionals and small businesses", explained SCiNet's CEO. "We want the world to move from means to ends, from goods to services, from products to functions and processes, from manual labor to intellectual and creative work, from the passively receptive human being to a human being that can truly give and receive ideas, from fragmentary communication to integrated knowledge...". As its first practical result, aside from philosophical objectives, SCiNet plans to reach agreements with governments and private groups in several countries, primarily located in the Third World, to setup Production Mini-Plants in portable containers, small factories and production units that can go immediately into operation, such as, for example, bakeries, basic sanitary material production facilities, and sheet metal factories (images of these mini-factories are displayed at the corporate website). At the start of its operations, SCiNet will emphasize making plain to its associated companies how to carry out commercial exchanges by means of the mutual acceptance of Electronic Commercial Exchanges Certificates, "a procedure that sidesteps conventional currencies and the common problems encountered in obtaining credits under critical circumstances", according to SCiNet's principals. This is a procedure that will, no doubt, transform the way world trade takes place today. OTHER ARTICLES OF INTEREST • Virus and Digital Ecosystem © SCIENCE NETWORK | Contact us This site and its contents are the copyright of Science Network. Unrestricted official Science Network documents and other texts are for free public use. Other material can be reproduced without prior permission provided proper attribution is given to Science Network and Science Network is informed; but Science Network reserves the right to withhold permission to reproduce this material. 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