>"LONDON – JUNE 18, 2018 – VAKT, an independent company focused on creating an industry-wide post-trade processing platform for commodities through blockchain, announced today its launch and strategic alliance with Deloitte and ThoughtWorks. Moving beyond the proof of concept stage, VAKT is now creating a production blockchain platform to digitise the global commodities trading industry. By managing physical energy transactions on a distributed ledger, VAKT aims to create a secure, trusted ecosystem for counterparty interaction, with anticipated gains in cybersecurity, operational efficiency and trade finance.
The platform will focus on post-trade processing to create a single source of truth for the trade lifecycle, eliminating reconciliation and paper-based processes. The first production version of this platform is currently under development and is expected to be operational by year end. The platform will be sequentially introduced in three markets - North Sea crude oil, US crude oil pipelines and Northern Europe refined product barges with additional markets to be added in 2019."
VAKT and Chainlink Connections
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>"John Jimenez from BP was appointed as VAKT’s interim CEO. In addition to Jimenez, further senior appointments to the management team include Adam Vile, Chief Technology Officer and Lyon Hardgrave, Vice President Product and Business Development.
Commenting on the new venture, Jimenez said “The response following our initial announcement has been overwhelming. Distributed ledger technology affords us the opportunity to completely transform the way counterparties and other actors in the supply chain interact. However, for blockchain to succeed, a technical solution alone is not sufficient; it requires a substantial network of users. No alternative solution combines the breadth of process coverage, market exposure and trade flow that defines VAKT, and the industry clearly recognises our unique proposition”"
>ThoughtWorks
>artificiallawyer.com
>"Here’s one for all the legal blockchain and smart contract fans out there – in what is a major coup, global law firm Clyde & Co has today announced that it will be providing legal services to new global banking and energy blockchain platform, Komgo SA.
Komgo is a ground-breaking consortium of leading banks, trading houses and energy companies that will ‘digitalise trade and commodity finance processes through a blockchain-based open platform’.
The consortium members are a who’s who of major European and global players: ABN AMRO, BNP Paribas, Citi, Crédit Agricole Group, Gunvor, ING, Koch Supply & Trading, Macquarie, Mercuria, MUFG Bank, Natixis, Rabobank, Shell, SGS and Societe Generale, (as pictured above).
Clyde & Co will provide legal support to Komgo through its smart contracts, and blockchain consultancy Clyde Code (see Artificial Lawyer feature here) – which is an extremely nice piece of work to have if you want to be at the cutting edge of this tech and working with major clients who take blockchain very seriously. So, well done to Clyde Code!"
Basically anyone making something MINIMALLY relevant on the blockchain will need LINKS.
VAKT>KOMGO>CLYDE>CONSENSYS>???
Help me fill in the blanks here guys.
The firm will work alongside Vakt, an energy trading platform run by many of the same shareholders in komgo
>Fuck Ive never seen this before. Good shit Marine.
Oil, energy, banks creat Vakt an new blockchain
the blockchain platform will be developed in partnership with ConsenSys, a global formation of technologists and entrepreneurs building applications, infrastructure, and solutions on the Ethereum network.
“The potential that distributed ledger technologies (DLT) have in transforming the commodities sector is clear as evidenced with the success of the Easy Trading Connect experiments” said Toon Leijtens, Chief Technology Officer of komgo.
“Komgo will be an open financing platform, changing finance processes around commodity financing. This will increase efficiency and reduce risks and costs. The platform is designed to be connectable to other commodity platforms,” said Karin Kersten, Head of Trade and Commodity Finance at ABN AMRO.
vakt.com
> "Adam Vile, Chief Technology Officer of VAKT commented: “We are delighted to be joining the EEA and be part of the realisation of the Enterprise Ethereum standard. VAKT is breaking new ground in developing, and plans to be one of the first companies to deliver in to production, an enterprise grade post trade platform with Quorum and hence Ethereum at its core. Close connection to the EEA, and the ability to contribute to and benefit from the rapid evolution of the platform will be key to our success”.