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| Tuesday, 25 May 2021, 01:00 HKT/SGT | |
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Source: EMCODEX | |
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| A revolutionary shift that democratizes commodities markets |
ZUG, SWITZERLAND, May 25, 2021 - (ACN Newswire) - EMCODEX.org today announced its anticipated launch as the first global emerging commodities Decentralized Exchange (DEX). The aim of EMCODEX is to democratize the commodities market using blockchain technology. There are only elite few-yet-giant global commodities trading firms dominating the commodities market. Some of the best-known deals are in oil and coal, agriculture, metals and diamonds.
EMCODEX is investing time, energy and money into removing the current barriers imposed by the commodities market. These obstacles actively block producers of various new products. In contrast, in a decentralized market, technology enables investors to deal directly with each other instead of operating from within a centralized exchange. The "old" way of trading on the commodities market has well-entrenched middlemen forcing producers to lower their margins and charging exorbitant service fees. This applies whether the producer is trading an actual product, trading to secure a price or for the purpose of speculation.
One of the goals of EMCODEX is for emerging commodities to thrive on its in-house EMCODEX standardizing list. It encourages entrepreneurs to fund raise capital for kicking off a new idea in a decentralized manner on block chain, while leveraging decentralized funding (DeFi) to remove intermediaries in financial transactions.
Blockchain technology, currently most popular in the cryptocurrency domain, is not just an amorphous buzzword. Rather, its global impact is changing society as a whole. Bitcoin is the most popular application and is making life easier for peoples' finances with digital wallets. Transactions are conducted with no physical transfer of funds, which is safer and more secure than cash or credit cards. There is only a record of the transaction. Cryptocurrency has a huge potential and is referred to as a currency disrupter.
"According to a Financial Times review, the world's top 20 independent commodity traders posted a record net profit of $36.5 billion in 2008, up approximately 1,600% from $2.1 billion in 2000, said Tomasz, EMCODEX CEO and cryptocurrency expert. "The past decade shows those 20 trading houses with profits of $250 billion, more than the world's top five carmakers combined. I completely oppose the centralized system."
EMCODEX and other important ventures, such as the newly discovered substance Xanthihumal are a result of entrepreneurial, disruptive actions taken to change society's norms and create a better and more equitable world, where everyone has the opportunity to realize profits from investments.
Tomasz continued, "It is so frustrating to want to engage in certain deals and find that they are out of reach. The EMCODEX family wants to be known as a "one stop shop" for trading commodities as a decentralized commodities exchange, focusing on products in the emerging product space. Anyone should be allowed to list and standardize a new commodity without the need of central authority permission."
EMCODEX uses military-grade Cypress technology. Users are not exposed to the risk of theft from hacking because blockchain is enabled into the transparency of the orders. EMCODEX is using the "$emco" cross chain token. The exchange native token enables participation in exchange governance, liquidity pools and EMCODEX emerging projects.
"Now that the commodities market is decentralized, we will now see blockchain become a real force in commodity opportunities," added Tomasz. "EMCODEX is already well positioned to offer independence and a comprehensive selection of transactions, with access to all commodity groups. EMCODEX significantly reduces the risk of theft from hacking. Our company will prevent price manipulation and fake trading volume, (wash trading)."
For more information go to EMCODEX.org
Media Contact
Company: EMCODEX
Contact: Tomasz Tokarski
E-mail: jdd@emcodex.org
Website: https://emcodex.org
Twitter: https://twitter.com/EMCODEX_
SOURCE: EMCODEX
Topic: Press release summary
Source: EMCODEX
https://www.acnnewswire.com
From the Asia Corporate News Network
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