Today sees the formal announcement of Forcefield, the
rumored metals post-trade blockchain consortium. Participants include Accenture, ABN Amro, Anglo American, CMST International, Hartree Partners, ING Bank, Mercuria and OCBC Bank. While metals are the initial focus, it plans to expand to other dry bulk commodities.
The companies mentioned are the ones that have so far signed a Memorandum of Understanding with more participants pending. The London Metals Exchange (LME) is not on the list and was rumored to be one of the founding members. The consortium says that it is open to all market participants.
ABN Amro, ING and Mercuria are also members of oil blockchain solution
VAKT and the
komgo commodities trade finance platform. ING is also a member of numerous other blockchain initiatives.
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