First blockchain in iron ore and steel industry.
By providing such a platform where Bitcoin overcomes all the difficulties of traditional banking, blockchain acts like a distributed public ledger and everyone has a copy of all transactions ever occurred. Don’t panic! Everything run under hash encryption, in this way everyone can see the transactions without accessing your personal details and information of your transaction.
Revolution commodities supply and demand . The physical commodities markets have often been laggards when it comes to innovation and cutting-edge technology. That's because they are among the least regulated. Commodities have been able to avoid much of the increasing regulatory scrutiny of financial markets because of the vast number of unregulated geographic areas where they are produced, stored and shipped.
Close the deal
Blockchain could help commodity traders transcend conventional market barriers. It also ensures timely settlement, expedites capital allocation and provides proof of collateral. The advantage is that the duplication of digitally distributed ledgers provides a safety mechanism. Cryptographic proofs lock in the transaction order chain in perpetuity, eliminating any disputes over the sequence of events.