Quicknode

April 12, 2024 — 5 min read

Welcome back to Feature Fridays! This week, we spotlight Nexity Network, a transformative force in global trade and blockchain solutions. Catalin Fetean and Tiberiu Serbaneci lead this venture. With blockchain and circular economy solutions development and his rich background in engineering, design, and sustainable development, Catalin is a seasoned professionals driven by innovation and efficiency.

With his rich background in engineering, design, and sustainable development, Catalin heads the development of blockchain and circular economy solutions at Nexity Network. His expertise is crucial in addressing the intricate challenges businesses face today, promoting a sustainable and transparent trade environment.

Check out Nexity Network

Q & A with Nexity Network 👇

Could you introduce yourself by sharing your name, prior experience, and current role within your company? Additionally, please briefly explain your company's mission and what it offers to its customers.

Catalin Featean has a background in engineering, sustainable development, supply chain, customer experience, and design. He has used his expertise to develop innovative solutions that address some of the most pressing challenges facing businesses and societies today. At Nexity Network, Catalin is leading the development of the platforms and promoting the adoption of blockchain and circular economy principles across the relevant verticals. Tiberiu Serbaneci has over a decade of experience in technology leadership and innovation. He has led cross-functional teams and driven digital transformation at some of the leading technology companies in SEE Europe. At Nexity Network, Tiberiu is responsible for building and managing relationships with key players in the industry.

How has your company grown and changed since its inception, and what do you have planned for its future?

We were very fortunate to work with a trusted group of pilots when we started the development of our solution, which allowed us to build the product’s features based on their needs. Starting from the pain points businesses face with global trade: outdated trade processes lost paperwork, and delayed payments – our solution sought to streamline these flows and provide a secure, transparent platform for B2B operations. Our early traction with 500+ businesses using our platform confirms that we’re solving a real problem. Through a constant loop of customer feedback, we’re expanding our platform’s capabilities to things like escrow protocols and bidding systems, eventually making us the go-to tokenization and trading system for companies.

Now, we are targeting the millions of businesses stuck in the past, and we plan to bring in as many as 10,000 by 2026.

What inspired you to develop Nexity Network, and how did you conceive of the idea?

We met in 2018 when I joined Tiberiu on the cloud-based solution he was developing for the automotive industry. At that time, we were working on expanding the customer base in other sectors and geographies. We’ve also been involved in different non-profit projects and invested together in web3 projects. At the beginning of 2021, we decided to find a way to integrate blockchain into companies’ day-to-day operations. Based on our existing customer database, creating a group of pilots was easy, which helped us develop the TradeFi platform based on their needs. The main drive of our spinoff was the deep understanding of how blockchain can help companies reach a high level of transparency, efficiency, and security. Our concerns around the sustainability of supply chains and the overall circularity of the global economy were another factor that contributed to designing an ecosystem around the concept of blockchain-enabled circular supply chains.

Can you provide insight into Nexity Network’s progress by sharing any metrics or milestones indicating its traction?

Based on firsthand experience in the supply chain landscape, we saw how frustrating it was for businesses to get things done. In just three years, we got early traction: over 500 companies across automotive, retail, food & beverage use our solution daily. In 2023, we generated roughly $700K in revenue and achieved $1.9M in monthly trading volume.

By using blockchain to automate and secure trade management flows like contracting, ordering, and b2b payments, businesses can control all operations seamlessly.

Traction Snapshot:

> 500+ Active Companies Onboard;

> $700K ARR in 2023;

> $1.9M Monthly Trading Volume in Goods and Services;

> 13 European Banks Natively Integrated;

> 10+ Startups Programs;

Can you provide insight into the target market for Nexity Network and what types of clients you work with?

We aim to create a more efficient, transparent, and sustainable supply chain ecosystem. By using blockchain to automate and secure trade management flows like contracting, ordering, and b2b payments, businesses can control all operations seamlessly. We help companies reduce costs, improve efficiency, and reduce risk.

How does your company utilize Quicknode, and what benefits does it bring to your business operations?

Meet market demand and other key metrics that we will closely follow without worrying about infrastructure bottlenecks. Also, Quicknode’s real-time analytics give us critical insights into transaction activity, response time, and other key metrics that we will closely follow. This will power the execution engine and enhance decision-making processes for our customers. Additionally, we utilize Quicknode’s IPFS pinning services and dedicated gateways for secure and decentralized storage of trade-related documents such as Contracts/Orders. IPFS content-addressing will ensure the integrity of current off-chain stored trade agreements, reducing the risk of disputes or tampering. Invoices and Other Documents: Decentralized storage and fast retrieval via Quicknode will boost the efficiency and transparency of our customers’ supply chain workflows.