London Metal Exchange to track physical metals with blockchain

posted 7 months ago
The London Metal Exchange, the world’s largest market for metal derivatives, plans to track physical metals using blockchain. LME & commodity trading firm Mercuria are working together to build a blockchain-based system to track the trade of physical metals such as copper, zinc and aluminium.

The initiative, dubbed “Forcefield,” is also supported by banks such as Macquarie and ING. The blockchain-based system aims to help buyers in the industry track the source of their metal, as well as help metal traders prove ownership of their stock.
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