The partnership began with the creation of a Target Operating Model for a blockchain-centric commodities platform. This has now been implemented within Sentinel, Kynetix's specialist commodity title and post trade platform.
Scott Riley, Blockchain Lead for Kynetix commented: "What we see is a unique opportunity to address some inherent challenges in the physical commodities world which are not dependant on legacy securities infrastructure. The two distinct work streams we are addressing with Imperial College are high-payback use cases. These allow our consortium participants to take real advantage of pragmatic DLT based solutions."
Matt Dolton, Director at Kynetix added, "It seems to us that the commodities world has an opportunity to jump ahead and embrace the latest technology advances to provide business advantage for the specialist commodities industry."
Prof William Knottenbelt, Director of the Imperial College Centre for Cryptocurrency Research and Engineering, noted "Working on innovative real-world use cases for blockchain technology is a key focus for us. We are delighted to be working closely with Kynetix in this fascinating application space."