Kynetix launch Commodities Blockchain Consortium

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Kynetix, a global leader in Commodity post trade technology platforms, is launching a Commodity-focused blockchain consortium.

An  dinner will kick off the organisation in London this Wednesday with 15 participants representing major commodity exchanges, investment banks, clearing houses, and brokers to discuss the merits and challenges of collaborating on a blockchain initiative within the physical economy.

The dinner, to be held at the historic Innholders Hall, will bring together key stakeholders within the Commodity trade lifecycle on the understanding that the greatest potential benefit of Blockchain technology is achieved through collaboration.

Following a well-received white paper on 7 Ways Blockchain Technology Could Disrupt the Post-Trade Ecosystem by CEO Paul Smyth, Kynetix have realised that there is a significant opportunity for the application of blockchain within the physical markets where the challenges of title ownership and transfer are ever-present, especially in the wake of the Qingdao scandal.

Having built key industry platforms such as LMEsword and ICE Guardian, Kynetix have over a decade of experience working with leading Commodity exchanges and investment banks.

“Our aim is to bridge the gap between the physical economy, the financial markets and blockchain technology in order to help the participants of the consortium explore and define the key areas where blockchain could be applied to this very unique physical marketplace” said Guillaume Kendall, Head of Business Development at Kynetixl

Richard Kastelein

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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