Published on July 10th, 2018 | by bitcoin0
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.