Company Komgo wants to push digital trading with raw materials

Home News company Komgo want to digital trading commodities advance

Of
Matthias Nemack –
20.09.2018

Equal to 15 renowned companies of the Bank by the energy group would like to provide in the future, through the help of the Blockchain technology for a better digital commodity trading. The jointly founded company Komgo to set important milestones.

Banks, trading companies and energy giants as partners

The establishment of the new company Komgo to ensure, on the Basis of the Blockchain on the market of raw materials for a faster and better digitization. The Company was founded in Geneva, fresh from the baptism. The partners involved include representatives of different sectors. On Board, among other things, the energy group Shell. Are involved furthermore, banks such as BNP Paribas, Rabobank and ING. Overall, the merger is in the house Komgo currently made up of 15 companies – trading companies are involved. It is planned to digitize relevant processes in the areas of trade financing and commodity financing, on the other hand, increased.

Ethereum founder of Lubin involved as an expert with a company

This project will implement in the future Komgo in the act. On the technology the partners in order to develop an efficient and open Blockchain system. Aim is also a stabilization and deepening of the business relationship of the companies involved with each other. All of the companies that have access to the platform, should be able to retrieve information in real-time and transactions with other participants to handle. In the implementation of the plans, the company Consensys with works by the way. Boss of this start-UPS from the Blockchain-Segment, Joseph Lubin, which in turn has also co-founded the platform Ethereum. This crypto-System should be the basis of the technological approach because of the flexible design possibilities.

The claim itself is Komgo. In the field of commodity trade Finance, you will want to take quickly a global leadership role. By the end of 2018 will be introduced according to Komgo two newly developed products.