Binish Antony

CommTrade

We optimize time and costs of trading commodities, by fully automating all transaction processes through the use of blockchain solutions that increase the trust of counterparties. Our project is aimed at solving problems of trust and automation of transactions in the commodity market. At the moment we are focused on the market of polymers, petroleum products and grains. We contribute to solving such problems as: - opacity of pricing, slowness of logistic and banking calculations; - the lack of a single OTC aggregator, and the high cost and slowness of introducing new products to existing exchanges; - counterparty mistrust and transaction costs for third parties and paper work. We see high inefficiency in the current format of OTC trading, through interaction with a limited counterparty base, the cost of maintaining a large operating staff, which ultimately leads to low business margins, threats of price manipulation fines, and long delays in raw material supply. Our solution is a single blockchain platform, including a complex of modern IT solutions for optimizing and automating the commodity trading process.