Can blockchain fight trade finance commodities fraud?

Banks and traders tout efficiency and the trust benefits of a new fintech platform, but key absentees mitigate the hoped-for 'network effect'.

Commodities traders and banks on a new blockchain platform launched this autumn hold strong views on how the technology could soon transform their business. But the scheme is not without its challenges.

Based in Geneva, komgo stands out for its focus on commodity trade finance; a niche sector dominated by an increasingly tight group of traders and banks, many of which are also in the Swiss city.

komgo has brought in a relatively large number of the industry’s biggest players.

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