Nornickel will launch a digital commerce platform
The Russian mining and smelting giant plans to develop a digital platform for the metals trade at the end of this year
Andrey Bugrov, vice president of Nornickel, said: “The preparation process was quite long. Nevertheless, we plan to take this product – the digitization of metal trade – to the market by the end of 2019 and start marketing our tokens.”
He also reported that the token trading program could be worth almost one billion dollars but that it is just an objective and average figure. It is pertinent to analyze the market demand for the product, since a series of factors are not specifically regulated but depend on market conditions.
The trade in valuable metals with tokens will apparently allow more fluid transactions, in which participants can sell surplus volumes to third parties more easily than with traditional contracts.
It is worth emphasizing that Nornickel recently partnered with the technological giant IBM to launch an educational and training program for specialists in the development of digital technologies for the mining and metallurgical industry.
Undoubtedly, the main challenges for the next educational center include student training, research and the development of digital ecosystems in fields such as the blockchain and the Internet of Things.
L.Sáenz
Source: Cointelegraph
