A new blockchain metals consortium dubbed “Forcefield” is in the works with backing from the London Metal Exchange (LME) according to the
Financial Times. The group also includes major commodities trader Mercuria and banks ING and Macquarie. Similar to the oil blockchain network
VAKT, Forcefield will target post-trade processes.
Hence the project will provide traceability for metals as well as safeguarding inventory ownership.
Mercuria and ING are also part of VAKT. And ING and Macquarie are members of
komgo the trade finance joint venture focused on commodities.
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