Blockchain
Comdex Completes Over $10M Worth of Commodity Trade Processes
Comdex, a commodity trading platform built on the Commit blockchain, has completed trades worth over $10M on its platform. Comdex is enabling commodity traders to engage in cross-border settlements and conduct Pre-trade and Post-trade Workflows. Trade financing is expected to be introduced on the platform in 2020.
Earlier this year, Comdex completed its first cross-border commodity settlement in the form of a wheat commodity transaction between Malaysia and Australia. The trading organizations involved utilized Comdex’s payment gateway and escrow system to settle the un-financed trade.
Comdex offers greater operational efficiencies through digital KYC/AML solutions, efficient data processing, and document management along with improved trust by leveraging blockchain-based solutions for digital document provenance. Early adopters have therefore found it to be the preferred solution for their needs.
While established commodity trade houses such as the likes of Cargill or Bunge maintain sophisticated in-house trade platform solutions, the majority of SMEs and MEs in emerging markets rely on archaic methods of communication and data exchange. This results in a general lack of trust between parties transacting across borders. Comdex aims to tackle this issue by leveraging blockchain features like immutability, provenance, and consensus which in turn reduces the settlement time.
The blockchain enforces trust between trading parties, Comdex and also trade financiers, who will be onboarded onto the platform as well. The Comdex application is built on the Commit Network, an enterprise blockchain comparable to Corda or Hyperledger. The Commit Network is based on the Tendermint blockchain that also powers the increasingly popular Cosmos Network.
Instead of establishing a centralized hosting infrastructure to operate the blockchain, the Comdex application relies on a network of ‘validators’ or ‘real-time chain auditors’. These ‘validators’, consisting of B-Harvest, CertusOne, Figment Networks, and StakewithUs, ensure that neither Comdex nor any other entity can manipulate transactions conducted on the platform.
SOURCE Comdex
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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