“How smart contracts change supply chain management,” expansion of blockchain technology in the commodity market
Global Smart Commodity Group shares 5 predictions about the future of smart contracts
CHICAGO, July 6, 2022 / PRNewswire / – The blockchain revolution transforms commodity trading and redefines global market transparency and transactions using smart contracts.
This transformation affects industry confidence and openness, opportunities for underserved markets, and will be the gold standard for commodity platforms. Commodity Trading Platform Global Smart Commodity Group (GSCG) captures these trends in its latest report “Commodity Wisdom: How Smart Contracts Are Changing Supply Chain Management.” It explains that the major industry problem for commodity trading is that it is extremely fragmented and under a lot of pressure to modernize quickly.
“Markets are very dynamic, the more information the world learns about upcoming products, where they come from and how they grow, the more accurate information is that allows people to choose products efficiently,” he said. Jack Bouroudjian, Chairman of the Board of GSCG. “The modern world is a data – driven place that has created our current digital age. Future markets will be more efficient in this ecosystem by using smart contracts. Capital efficiency and data capture – along with maintaining the origins of data – will be at the forefront of companies that looking at this new landscape. “
The new report addresses the current state of commodity trading, how smart contracts will change and affect markets globally. Smart contracts have the potential to drive the industry forward through openness, traceability and data integrity. Maintain the origin of data capture while informing all participants.
“It is important to create global standards for raw materials and hold industry participants accountable,” he said Robert Alberghine, President and CEP of the GSCG. “We also want to spread the markets among the user base to ensure that everyone has access to commodities. As the trading and investment community has shifted to online platforms, we have seen the effect it has had on the economic landscape over time. Although it makes the markets more effective, it can also affect jobs and livelihoods as technology changes and evolves. “
To access the full report, visit: https://www.smartcommoditygroup.com/global-perspectives/how-smart-contracts-are-changing-supply-chain-management/
About GSCG
Global Smart Commodity Group (GSCG) brings a new stock market trading experience for 21st century commodities. GSCG’s environmentally conscious mindset puts them at the forefront of commodity trading today and for the future. GSCG’s proprietary trading platform is built on blockchain technology, and will drive retail to the next level by providing increased transparency at all stages of the supply chain. And with this single source of truth and built-in key price discovery mechanisms, GSCG will help address existing price and supply chain inefficiencies for underserved commodity markets around the world.
Learn more at https://smartcommoditygroup.com/.
Consult:
Bob Spoerl
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SOURCE Global Smart Commodity Group
