Comdex on Commodity Digitization in the Post-and-Neo-Pandemic Era
The commodities exchange sector of the global cryptocurrency industry has been badly hit by the COVID-19 stimulus, but it is the backbone of the worldwide supply chain. It is therefore necessary that institutions digitize their commodities to increase the rate of opportunities to grab at in the near or far future.
It is widespread information that more and more businesses (since the outbreak of the virus) have been inputting newer forms of technology to speed up connectivity (like the 5G) and data control.
However, the commodities exchange sector still makes use of paper files to conduct transactions which involve long lists of middlemen, thereby exposing such to fraud. Also, when transacting across borders, longer time and larger quantity of resources are used up. But digitization and reliance on electronic funding in end-to-end and encrypted transactions on blockchains can put an end to all that trouble.
The aim for digitization in businesses is to enable them track and manage their data, to put to a better use for the optimization of their good qualities and withdrawal of the bad.
Interoperability: A Key to the Digitization of Commodity Assets
The Comdex management says that “the challenge, however, does not simply end at the digitization in trade processes.” Seeing the usage of digital technology in businesses, there might be errors within the configuration of these technologies, lessening the feature of interoperable interfaces.
The International Chamber of Commerce has moved to develop upon trading standards, in order to speed up interoperability based on solutions made by cryptocurrency institutions.
Comdex says that “the function of interoperability in a holistically digitized cross-border commodity environment is key to its success and ease of access.” And this ‘holistic environment’ is made up of stakeholders in a commodity trade transaction, such as logistics and liquidity providers, traders, treasurers, and insurers or brokers. To guarantee the success and growth of this environment, the digitization in trade finance has to be interoperable with functions used by other major stakeholders in the environment.
In summary, riddle behind the widespread and quickened induction of various forms of blockchain technology into various commodity exchange institutions can be solved when looking deeply into the technology that enables interoperability between different digital frameworks.
Where Comdex Takes the Stage
Comdex makes use of this interoperability-based digital network frame, and — as a commodity decentralized exchange platform — runs its operations and transactions across various blockchains. Not just that, the interoperability of the Comdex blockchain technology is just getting more advanced.
Before the year 2022 comes to a close, the platform will launch its ShipFi system, an interoperable interface that will not just operate across blockchains but also beyond blockchains.
Join the Comdex global community today, and stay tuned for more developments in its vast decentralized ecosystem.
About Comdex
Comdex is a decentralized synthetics protocol in the Cosmos crypto network; and as a product of the Persistence platform, Comdex develops possible solutions for the decentralization of finance (DeFi) by handing over to investors the knowledge about a widened scope of asset classes and rewarding projects.
Keeping up with the latest updates concerning Comdex’s monetization processes, you can also follow up on:
Website| https://comdex.one/home
Twitter| https://twitter.com/ComdexOfficial
Telegram| https://t.me/ComdexChat
Medium| https://blog.comdex.one
Reddit| https://reddit.com/r/ComdexOne/.