Is Blockchain the Future of Commodities Trading? Apparently Not

[kreslik.news]

The idea to use blockchain to assist and transform trading has been picking up steam in the past few years. Commodity firms and banks alike have been jumping on board pilot schemes for blockchain to utilise its technology. However, a report from the Boston Consulting Group (BCG) released today states that the use of blockchain for most types of trading has been likely over-hyped.

Largely, the market views blockchain as a solution to its problems surrounding inefficiencies, improving transparency and reducing the risk of fraud. However, the report has argued that the potential of blockchain has been over ... (read more)