A group of major global banks, trading firms, and a leading energy company have launched a joint venture that will oversee a new blockchain-based platform for financing the trading of commodities, Reuters reports September 19.
The venture will digitalize trade and commodities finance processes through a blockchain-based open platform, and has been developed in partnership with the Ethereum-focused blockchain infrastructure and solutions group ConsenSys.
As of next year, the platform reportedly aims to widen to agriculture and metals.
In April, a subsidiary of one of China's four major state-owned oil companies successfully completed a shipment of gasoline from China to Singapore that used blockchain tech end-to-end across "All the key participants in the commodity trading process."
Major Banks, Industry Players to Launch Blockchain-Based Commodities Platform
gepubliceerd op Sep 19, 2018
by Cointele | gepubliceerd op Coinage
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