Through its cutting-edge technology platform, the company is focused on digitising, streamlining, and automating post-trade processes, which historically have been manual and paper-based.

As such, Havona is helping traders, logistics providers and other stakeholders reduce costs, improve efficiency, and ensure compliance with regulatory standards.

Havona’s platform addresses major pain points in the post-trade phase, connecting all relevant participants in the trade process into a single, secure digital environment.

Its real-time data access, blockchain security, and compliance automation features are designed to offer seamless collaboration and a significant reduction in manual errors, delays, and operational risks.

The vision and core features

The company’s mission revolves around transforming post-trade operations by offering digital documentation, automated workflows, and secure transaction records. Key features of the Havona platform include:

• Digital Documentation: By digitising bills of lading, inspection certificates, and customs documents, Havona reduces the risk of misplaced or forged paperwork, providing enhanced traceability across the entire trade process.
• Real-Time Data Access: All stakeholders involved in a trade have access to real-time data regarding shipments, logistics, and contract compliance. This transparency improves communication, reduces delays, and enhances the accuracy of information shared between parties.
• Blockchain Security: Havona’s platform leverages blockchain technology to create an immutable, secure ledger of all transactions. This ensures that data cannot be tampered with, providing a high degree of trust among trading partners and reducing the risks of fraud.
• Compliance Automation: The platform automates compliance processes, streamlining regulatory reporting and reducing the time and cost associated with meeting legal requirements.

Havona aims to address the complex and outdated processes within commodity markets by offering a scalable, future-ready solution. This platform helps companies meet compliance needs, reduce errors, and create an ecosystem of trust within supply chains.

The founders’ journey

Havona’s co-founders, Greg Pradervand and Desmond Hakim, met in 2008 in Switzerland, bonding over outdoor activities and a shared interest in global trade.

Pradervand , originally from Geneva, transitioned from a commodities broker to a trader, while Hakim worked for a prominent European hedge fund after moving to Switzerland. They often exchanged stories about the inefficiencies in commodity trading, particularly the paper-heavy processes involved in completing trades.

As Hakim recalls, his interest in commodity markets grew when he began working in Geneva, surrounded by traders, brokers, logistics experts, and banks, all operating within a tightly-knit ecosystem. However, it was not until 2016, when he attended an Enterprise Blockchain conference in London, that the idea of using distributed ledger technology (DLT) to solve the issues within physical commodity trading really took shape. He shared the idea with Pradervand and, together, they began exploring how blockchain could improve the industry.

By 2018, they tested their concept with industry experts, who appreciated the potential of the idea. However, both regulatory frameworks and technology were still in their infancy.

Havona’s vision solidified further when Eric McEvoy, their third co-founder and CTO, joined the team. Eric’s technical expertise and passion for data helped bring Havona’s concept to life, combining cutting-edge technology with a deep understanding of the market’s needs.

Solving commodity market challenges

Commodity trading remains a massive industry, but its inefficiencies and risks have persisted for decades. Havona is addressing some of the most common challenges in post-trade operations:

• Manual Processes: Despite the scale of global commodity trading, many companies still rely on paper documents, emails, and manual workflows. This creates significant inefficiencies, including high administrative costs, human error, and delays.
• Lack of Transparency: In large, complex transactions involving multiple parties, it is difficult for any one participant to track the status of a shipment or delivery in real-time. Without a unified system, miscommunication and discrepancies often arise, leading to delays and disputes.
• High Compliance Cost: The complexity of regulatory compliance for commodity trades can be overwhelming, leading to increased costs and a risk of penalties. Handling customs, inspections, and legal documentation manually adds to the workload.
• Security Concerns: Given the value of the commodities being traded, ensuring that documents are secure and cannot be forged is essential. Paper-based systems are inherently vulnerable to manipulation or loss.

Havona’s edge

Havona’s platform addresses these challenges by offering an all-in-one digital solution for managing post-trade operations. The benefits include:

• Increased Efficiency: Automating manual processes significantly reduces the time required for settlements and delivery confirmations. With fewer errors, companies can cut down on operational costs and speed up trade completion.
• Improved Transparency: All parties in a transaction have real-time visibility into the status of the trade, allowing for better coordination and timely problem-solving.
• Lower Compliance Costs: With compliance workflows built into the platform, Havona makes it easier for traders to meet regulatory requirements without delays or errors.
• Stronger Security: Blockchain’s immutability ensures that all trade documents are secure and cannot be altered. This builds trust among trading partners and minimises the risk of fraud.

Future plans

Looking ahead, Havona’s five-year vision is centred around solving customers’ challenges through their platform while also contributing to ESG goals by creating measurable positive carbon impacts on supply chains. They aim to become a global solution for all participants in supply chains, from traders and financial institutions to other stakeholders like chambers of commerce and trade credit insurers.

Their immediate focus is on scaling the company, currently a team of seven, to serve larger organisations with pilot projects. They also plan to expand their offering beyond the commodity market to other supply chain verticals, including SMEs.

The founders view the UK’s accession to the Trans-Pacific Partnership as a key opportunity for growth in this space.

Havona is dedicated to iterating its platform to ensure it serves the diverse and evolving needs of global trade, pushing forward the digitization of post-trade processes for the benefit of all participants.

Conclusion

Havona is at the forefront of revolutionising post-trade operations, especially within the commodity markets. With its blockchain-based, digitised platform, Havona offers solutions that promise greater efficiency, transparency, and security.

The founders’ vision of creating a seamless, global ecosystem for post-trade activities is poised to disrupt the industry and provide long-lasting benefits for businesses of all sizes. As they continue to grow and innovate, Havona is on track to lead the charge in transforming the future of commodity trading.