Swiss Metal Trading Platform Plans Blockchain Consortium

The idea is to optimize supply chain in industry.

Open Mineral — a startup created by former traders from commodity house Glencore. It has been announced that it started working with Ethereum based ConsenSys for developing platform called Minerac. The company still keeps a secret the names of other firms who joined Consortium.

According to Reuters, the project is aiming to connect the minerals supply chain from mining to shipping, surveying, warehousing and financing, each company is going to be a part of new blockchain platform.
The purpose of the project is to get rid of complicated process and allow the stakeholders to receive new information via smart-contracts.

Supply chain data are moved to the network and the report states that sealed bags of minerals would be stamped with tamper-proof identification that will allow them to be traced and avoid legal conflicts in different regions.
The startup was founded in 2017 and was mostly used to avoid intermediaries for mining companies and smelters thus, to lower the expenses during mineral trading.