My girlfriend is (one of the many people) building a Blockchain-API-as-a-marketplace for commodities trading: https://www.vakt.com
It's amazing how many billions of dollars are still transacted via phone and paper records by organisations who ultimately have to rely on good faith to get oil from A to B (in possession of C and owned by Z). I can't imagine what it would take to verify a chain of actions taken a couple of years ago with the systems in place. Impossible.
I imagine other commodities are the same. I would never have guessed there's still so much efficiency to be gained in these huge, old-as-dirt markets. Technology, huh.
It's amazing how many billions of dollars are still transacted via phone and paper records by organisations who ultimately have to rely on good faith to get oil from A to B (in possession of C and owned by Z). I can't imagine what it would take to verify a chain of actions taken a couple of years ago with the systems in place. Impossible.
I imagine other commodities are the same. I would never have guessed there's still so much efficiency to be gained in these huge, old-as-dirt markets. Technology, huh.