Watr, a global commodities industry infrastructure, has established a partnership with Avalanche. Watr will adopt Avalanche Layer 1 (L1) blockchain technology to enhance commodity trade and financing through improved liquidity, scalability, and accessibility.
Traditional business processes within the commodities sector based on metals minerals, food, and fuel continue to experience operational limitations. Watr pursues modernization of this sector through blockchain technology by implementing decentralized identity features and traceability alongside smart contracts. The migration will boost market liquidity and create fresh commercial possibilities for all participants.
The commodities sector, which includes metals, minerals, food, and fuel, has long been hindered by outdated processes. By integrating decentralized identity, traceability, and smart contracts, Watr aims to modernize this sector through blockchain technology. The move is expected to enhance liquidity and create new opportunities for market participants.
The Role of Avalanche in the Partnership
Avalanche‘s blockchain network delivers exceptional performance, speedy operations, and solutions that scale for institutional usage. Many financial institutions, including JP Morgan and Citibank, have already adopted blockchain-based solutions through Avalanche infrastructure. The partnership enables Watr to create custom blockchain solutions through Avalanche’s Layer 1 technology, which caters to different commodity markets’ needs.
As Chief Business Officer of Ava Labs John Nahas explained how blockchain technology enables revolutionary potential in commodity trading systems. According to him real-world commodities demonstrate limited blockchain adoption however Avalanche provides an ideal base for Watr to digitize commodities markets.
Watr uses Blockchain technology to reshape commodity markets
Watr uses various blockchain services to develop solutions that restructure commodity trading operations. WatrMrks is a crucial blockchain solution because it establishes complete asset tracking through recordkeeping of origin information and all certifications and custody records. Stored immutably the records will enable authorized users to access them without change.
Professional and business identities operate as decentralized identification services through WatrIDs for the commodities trading market sector. The Watr ecosystem will allow users to access applications securely through WatrIDs that uphold industry specifications. The Watr network has created NeoReserves as liquidity pools that support commodity financing contracts.
The specialized VentureStream platform seeks to assist commodity-tech startups while providing development capabilities through its connections with established market operators. Blockchain adoption will establish components that achieve operational efficiency, market standard compliance and transaction transparency for the commodities marketplace.
