Commodity Traders, Major Banks Back New Blockchain Platform

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A group of commodity traders and financial institutions have unveiled a new blockchain venture.

The project has attracted a notable list of trading firms, including Koch Supply & Trading and Mercuria, as well as energy giant Shell and inspection firm SGS. Macquarie, Rabobank and Natixis are among the companies establishing the new venture.

Ethereum startup ConsenSys is partnering with the companies on the development of the platform.

Further commitments to jointly found a blockchain-based platform for trading commodities were made toward the end of last year.

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