As per the present day scenario, international trade is under pressure. Certain fears are fuelled by various terrorist threats as well as by the global refugee situation, which leads to tightening of controls over the border, and these are coming at a low cost. Due to this, there is a frequent inspection of goods at every stop along with the supply chain, drives up the process and also eats much of the time.
This leads to harm the business and consumer as well. Trading houses, manufacturers, transportation companies and banks are seeking help and finding out ways to ease the matter and to cut the cost and time too. And to do this, Blockchain would be a good option. This cloud-based ledger helps to record the data, and this reduces the issues of duplications, increases the visibility and avoids the user from fake and manipulated intruders.
The best part about the Blockchain technology is that they are coming at a low cost and helps in the inspection of the goods, never eats up the time and drives your organization towards success. Hence, this technology has successfully promoted an unprecedented level of satisfaction and trust among the users, which means the government can easily protect their citizens from the malicious attackers, can save their critical data and also checks the quality of the material.
So special thanks goes to the Blockchain technology, which is doing all types of legal, product-related and financial task that provides you enough security to the data. Further experimentation and investment in the Blockchain technology could lead to hiding confidential data regarding trading and others fields as well.
Moving with the trend, Tradewind, a stock trading company IEX, and this has recently launched Blockchain technology and powered gold trading platform. This organization has kicked off the VaultChain platform last week, which was done by the president and co-founder as they didn’t find the previously existing technology was not good for the selling propose.
As per the reports are concerned, the firm is now working with major organizations such as gold giant Sprott Inc., and Royal Canadian Mint. Tradewind has made several efforts to bridge the gap between the customers and technology, but, every time they fail to find the desired result.
And, finally, they brought some changes regarding the technology and had introduced Blockchain to resolve the issues as well as to bridge the technological gaps and underpinnings of the cryptocurrencies in the new environment known as the gold-trading surrounding.
The company has begun in the year 2016, which has the target of providing transparency to precious metals in the field of trading in the marketplace. After finding the faults from VaultChain, the organization has decided to change the scenario, and have recently adopted the Blockchain technology.
The Royal Canadian Mint has stated that they will store the gold for the Tradewind by using the firm’s VaultChain Blockchain technology for the authoritative storage and record of the ownership. In addition to this, the Mint will do the contractual guarantee based on the ability to physically having the gold, which will be delivered to certain networks that are authorized and transparent, and also provides liquidity to the dealers and providers.
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A few days back, Tradewind co-founder and President Matt Trudeau declared that their organization believes in trading and ownership metals, which will soon become digitized, and this start-up platform will surely help in streamlining the transition to form an entirely new digital marketplace.
And, co-founder Mike Haughton, reveals that the platform can directly associate or link with precious metal’s custodians, producers, dealers, market makers as well as investors, which makes the trading the process much more reliable and efficient than the present means allow.
Details about Tradewind regarding the launch of Blockchain technology
In this fast-paced era, everyone is trying to launch something new that will work efficiently in the new digital marketplace. Meanwhile, Tradewind, a financial technology-based organization, has announced that they are going to launch a unique digital gold platform, which is the combination of world-class exchange technology known as the VaultChain.
The firm is expecting that, this tailored application is expected to bring certain changes and will revolutionize the trading style, will do some better settlement as well as ownership of the physical gold. As per the sources, the first registered gold on the platform of Tradewind will soon be arched by the Royal Canadian Mint, which a Crown corporation of the Canadian government.
Matt Trudeau who is the co-founder and President of Tradewind concluded that they believe in this new technology, which is known for their secure trading for precious metals and other stuff, will soon be digitalized, and along with it, the open-architecture platform will guide and lead the transformation by allowing the active participants of the market to easily and quickly adapt the situations.
Well, it is true that Blockchain technology and gold form a unique system on the platform that enables the market of gold to respond properly and to some technical challenges as well as to remove the prior limitations.
The Tradewind Company went live on March 23, 2018, which has started connecting with the integration of the network of authorized liquidity dealers and providers. And the Royal Canadian Mint will soon facilitate the process of registration for the investment grade of physical gold on the platform of Tradewind as VaultChain gold.
This will make the confirmation that the possession of all the physical gold underlies the platform. Working as a team with the authorized liquidity dealers and providers, Mint will recognize the platform of the Tradewind Blockchain as an authoritative record, which is meant for the title of ownership.
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This has lead to help the customers to access the network of the authorized dealers, as well as they, are now able to own their VaultChain gold available in fractional quantities along with the segregated account that directly works on the Tradewind Blockchain. As per the decision of the organization, Blockchain will not be part of the ongoing administrative fees and management, which are linked with the securities products such as exchange-traded funds.
Due to adoption of this new technology in Tradewind, investors are quite happy as the Tradewind Blockchain has the capability of connecting with precious metals producers and also unlocks opportunities for the participants available in the marketplace in order to conduct the business more effectively and efficiently, securely and profitably, and by confronting and controlling all the business operation that enable the future utility.
And this includes the collateral management and provenance tracking. In addition to this, Tradewind investors also include industry leaders in the technology and precious metal such as IEX’s group, Sprott Inc and next-generation stock exchanges.
Why use the Blockchain in trading?
In today’s world, Blockchain has become the buzzword in every nook and corner. Previously, people were worried about the data and information, which they used to store in the banks due to less security and guaranty in the process. Citizens started to look for some other alternatives, and meanwhile, Blockchain technology was introduced.
This technology has the capacity of reducing the barriers that are present at the borders and in the trade agreements and also minimizes the risk of terrorism as well as illicit trade in the organization. Blockchain technology, in fact, serves a backbone of the system, which is necessary for the authorized and trusted participants, to bring everything to the limelight, whether it’s a service or product, partly selling it or makes some easy path to reach the target.
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Consumers who are investing in the Blockchain technology are getting the advantage of watching the entire process through in which their data are transported, and they can even trace them anytime they wish for. The processes are very easy and optimized and have customs clearance as well. Parties, group and even individual can quickly access the information without having issues on the security system and failure of data.
Blockchain technology has made the life easier and helps to record everything irrespective of any circumstances. Starting from the immutable records based on various aspects of the transaction to the raw materials, how products are manufactured to their respective distributors, repair to maintenance, recycling histories to recall, all can be tracked and controlled by the Blockchain technology and considered as the basis of trust.
So, trust plays a crucial part in the Blockchain system, and if they are strong, then customers can invest in it even without opening their eyes. Information regarding the provenance, price, and authenticity are all held by the Blockchain, which is therefore regarded as the best approach in the digital marketing sectors.
Furthermore, adopting this technology has opened several ways for replacing the existing product, to accelerate customs-clearance methods and also protects the customers at each step. Consumer protection and customers, and customs authorities are some of the major concerns, and investing on the Blockchain technology helps you to decide which thing to buy or not, and will also lead you through great paths without any obstacles and issues.