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.

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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

About Richard Kastelein

In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, ' The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write.

Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications.

Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the EuropeanCommission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.

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