Kynetix explains Distributed Ledger Technologies and its future
ComTechAdvisory: What is Kynetix’ interest in Blockchain technologies?
Scott Riley: There are three primary drivers to Kynetix’s interest in DLT:
1. Our mission at Kynetix is to bring total trust to the commodity markets. Given the claims that DLTs are a 'trust machine' we thought we better explore the assertion. Having been at the forefront of technology in our field for over 20 years, technology is in our DNA. Blockchain or DLT technologies are currently attracting huge interest across financial and physical market players. Our experience has taught us that the best way to understand new technologies is to experiment with them and test their capabilities and functionalities; which is what we’ve been doing with our partners for the last 2 years.
2. Sentinel, our best of breed market infrastructure platform, sits between the physical economy and the financial markets. As such we need to ensure we can interface with any platform in the commodity transaction value chain. We believe DLT will revolutionise aspects of the commodities transaction value chain and therefore we need to continue leading initiatives on this topic.
3. Innovation is a constant in our industry. All our customers, including the likes of LME, ICE, SDiX all demand that we continue to offer them innovative solutions so that they can in turn offer their clients new, market leading services. We are proud of our legacy of collaboration with key clients and we always aim to deliver our clients the latest innovations to help unlock value in the physical markets for their customers.