Blockchain in Metals Trading – metalshub is getting ready
metalshub was founded to transform the way metals and ferroalloys are bought and sold. Self-evidently exploring technologies that on an infrastructure level facilitate more efficient transactions and trade settlements are part of our daily work to accomplish our mission.
One promising technology that caused quite some stir is the Blockchain technology. Blockchain, the transactional database underpinning Bitcoins, is sometimes also referred to as a “distributed ledger”. Blockchain is potentially capable of putting all the steps of the commodity value chain (mining, processing, sampling & assaying, shipping, warehousing, trucking, financing, delivery tracking and payment) into one database. This becomes a serious commercial tool once this database is distributed among market participants resulting in more efficient trading activities while being transparent and secure. This would put an end to forged warehouse receipts or certificates of analysis because these information could be stored forgery-proof in the Blockchain.
There is certainty among experts that Blockchain technology has the potential to revolutionize todays existing trading infrastructure. So even though the Blockchain technology might not be fully market-ready yet considering it in how we build our metalshub platform is more than just a good idea – it’s the future.
Your metalshub team Metalshub platform is more than just a good idea – it’s the future.
-Blockchain Metals Trading – Metalshub is getting ready-
Your Metalshub team