Blockchain for Physical Commodity Markets – A Realist’s Perspective

By Julie Lerner, Chief Executive Officer, PanXchange

Regarding the physical commodity markets, this article recommends that blockchain providers consider the following approach. Start with the points of highest pain, like streamlining cumbersome bills of lading. Find a reliable blockchain provider or neutral third party that can understand the idiosyncrasies of the physical supply chain and both the opportunities and limitations of the technology. Coordinate the piloting and the implementation with the industry’s largest players. Blockchain is ultimately an opt-in solution. Build it to their specifications, and they will come, predicts the author.