Commodities play a significant role in our daily lives. Right from the fuel, we need to drive our cars, to the metal we use for building homes, everything involves commodities. In fact, the commodities trading market has evolved alongside human civilization, and it continues to hold a fundamental position in the global economy. Many experts peg its value at more than a trillion dollars.
Today, with industries around the world venturing into Industrial Revolution 4.0, the commodity sector also needs to upgrade its practices. Driving this transition will be NewzoneEX, who have plans to spearhead this change by using blockchain technology. This move will help introduce the attributes of efficiency, immutability, and, most importantly, transparency into the sector.
Presently, the contemporary commodities market struggles with the following problems:
- Fragmented in the supply chain ecosystem
- Ineffective systems of payments
- Irregular data storage patterns
- Issues with fraud and insider-trading
- Difficulties in exercising regulation
To counter these shortcomings, NewzoneEX will develop a comprehensive platform underpinned by blockchain technology that will systematically benefit the industry in the following ways:
- Improve coordination between various participants across different levels
- Streamline the storage and sharing of data
- Simplify the settlement of payments and transfer of funds
- Increase transparency of transactions
- Eliminate middlemen and additional costs
To develop this platform, NewzoneEX will launch an Initial Coin Offering (ICO). As part of this ICO, NewzoneEX Tokens or NZTs will be sold. A total of 2.5 billion NZTs will go for sale during the crowdsale, with each unit priced at $0.1 USD. The hard cap for the NewzoneEX platform is $250 million.
The NZT is an ERC-20 token, and it comes with a lot of utility value. With this token, users can execute a variety of activities on the soon to be developed NewzoneEX platform. Here is a list of token use-cases:
- Settle payments
- Execute cross-border transfers
- List and purchase commodities
- And much more
By harnessing emerging technologies like the blockchain, the NewzoneEX platform, when developed, has the potential to transform the commodities trading market.
Register yourself on the official website,and purchase your NZT tokens without delay.
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