Commodities Trading Platform executes thousands of transactions every day to earn profits. In addition, they would have invested millions of dollars to build the complex systems through a system involving both automatic and manual processes. The benefits of streamlining this process include :
According to a report by Ernst-Young, the potential savings could be anywhere between 30% and 60% varying based on companies. Processes like the validation of a deal, managing risks, and monitoring regulations can be automated through blockchain and smart contracts. There are five key areas where Distributed Ledger Technologies along with smart contracts will be helpful:
New Zone Intertrade FZE believes that application of the blockchain technology in the commodity trading ensures a complete lifecycle from end to end. The implementation of blockchain can significantly reduce the cost and man-hours involved in price discovery and trading, back-office settlements, and payments. The challenges faced in previous pilots of blockchain and commodity trading is mitigated through an incentivization for the users using NewzoneEX Tokens. In addition, NewzoneEX Commodities Trading Exchange will follow the regulatory and compliance frameworks for the trades to happen smoothly. The industry is going to evolve into a blockchain and cryptocurrency friendly ecosystem where the incumbents will accept the tangible proposition of adding value to the existing system.
NewzoneEX Commodities Trading Exchange will create an ecosystem for an end-to-end trading framework in the life cycle. We have a team of cross-functional professionals who understand the nuances of commodities trading. We plan to transform the industry with the blockchain technology through a compliant, secure and immutable ecosystem.
