Blockchain coming for mineral trading

Online physical commodities exchange Open Mineral is planning to build a consortium of mining companies and financial organizations to develop a blockchain-based mineral trading system, according to a press release July 9.
Switzerland-based Open Mineral has partnered with U.S. decentralized applications (DApp) developer ConsenSys to set up Minerac, a blockchain project focused on improving mineral trading and supply chain logistics.
In this way, Minerac hopes to ensure the security of high-value minerals, and help validate that commodities are from conflict-free regions.
In June, Walmart and nine other companies partnered with IBM to develop a blockchain for tracking food supply globally.
Members of the Food Trust blockchain include Nestlé SA, Dole Food Co., Driscoll’s Inc., Tyson Foods Inc. and Unilever NV.

Tags: Blockchain, Commodities, commodities exchange, Consensys, DApp, decentralized, developer, Dole Food, globally, IBM, logistics, mining, Nestlé SA, supply chain, Switzerland, trading, Tyson Foods Inc., Unilever NV, Walmart

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