Kynetix Launches Blockchain Consortium for Commodities Markets
Kynetix, a post-trade technology company, is putting together a consortium to look into the use of distributed ledger technology in commodities markets. UK-based Kynetix, a firm that deals in commodity post-trade technology platforms has launched a consortium focusing on integrating blockchain technology into commodities post-trades and mainstream financial services. The firm announced an inaugural meeting to take place in London today wherein 15 major commodity exchanges, investment banks, brokers and clearing houses will collaborate in bringing blockchain to the physical economy. Kynteix....
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Kynetix, a global settlement and post-trade technology platform from Croydon in the United Kingdom, has announced plans to offer a blockchain consortium. The focus is on the effect of distributed ledgers across commodity and settlement markets. The organization has an active interest in exploring these digital concepts and will have an inaugural dinner....
Post-trade technology services firm Kynetix is seeking to assemble a consortium of commodities market stakeholders to explore the collaborative use of blockchain technology. Kynetix announced today that it has so far assembled a "coalition of 15 commodity exchanges, investment banks, clearing houses and brokers", though it declined to name those involved in the effort. Despite this silence, however, Kynetix is seeking to liken the project to similar efforts by distributed ledger startup R3, which has united 30 brand-name banks in a similar initiative. In interview, Guillaume Kendall, head....
The R3 blockchain consortium continues to attract attention in the financial world, as they have welcomed their first Chinese member in the form of Ping An Group. This partnership has nothing to do with the consortium seeking US$200m in additional funding, though. In a rather surprising turn of events, the R3 blockchain consortium added its first Chinese....
Mettalex claims to be fully decentralized, meaning “no counterparty and no single point of control.” Mettalex, a spinoff project of Fetch.ai, announced Friday that it has officially launched a decentralized exchange for commodities trading, offering another compelling use case in how blockchain technology was disrupting traditional finance. The new exchange aims to disrupt the commodities market through blockchain applications and other emerging technologies, such as machine learning and IoT. Mettalex has been designed to improve upon existing automated market makers and blockchain....
Goldman Sachs is moving out of the R3 blockchain consortium as it failed to renew its membership in the fintech group. The R3 blockchain consortium is losing one of its key founding members. As reported, banking giant Goldman Sachs is walking away from the collaboration after failing to renew its membership last month. The investment bank was one of the nine original founding members of the consortium; its separation from an otherwise active development project signals its changing perspectives towards the project’s future. It is, however, not clear whether other banks have the similar....