Today Letter of Credit blockchain Contour announced a collaboration with MineHub that enables visibility in mining supply chains.
Contour has digitized the Letter of Credit process and adds security through using blockchain and cryptography. While that’s a big win, a greater benefit is gleaned if the underlying transaction documents supporting the trade finance are digitized. This is where the deal between the two companies comes in.
A 2017 World Economic Forum whitepaper estimated that $320 billion in value would be generated from the metals and mining sector in the decade to 2025.
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