On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
A palladium fund founded by Norilsk Nickel will launch exchange-traded commodities for metals custodied using blockchain at the Deutsche Börse and London Stock Exchange.
The world’s largest producer of palladium and high-grade nickel, Norilsk Nickel, is pressing ahead with its digital technologies strategy. As of Jan. 18, Nornickel's Global Palladium Fund has launched exchange-traded commodities, or ETCs, for metals on the Deutsche Börse, which are custodied by TokenTrust AG and also make use of its distributed ledger platform, Atomyze.
Nornickel's Global Palladium Fund intends to launch the ETCs on the London Stock Exchange "within a few days." An ETC, which is an instrument that is tradable like a stock or share, offers traders and investors exposure to an underlying commodity — in this case, metals. Nornickel's fund will contribute palladium, platinum, gold and silver to the newly-launched ETC instrument and will collaborate with the Swiss-based company TokenTrust AG on metals custody arrangements and a tokenization strategy.
TokenTrust provides the fund with a distributed ledger technology-based platform called Atomyze, built on Hyperledger Fabric that will be used to immutably record metals information and tokenize a part of the mining group's contractual volumes.
The ETC instruments will be offered at the LME — London Metals Exchange — spot price and will provide additional guarantees about the provenance of the underlying commodities due to the usage of distributed ledger technology for monitoring and verifying standards. The CEO of Nornickel's Global Palladium Fund, Alexander Stoyanov, said:
"Our way of digitalization of commodities allows one to capture and trace the source of underlying metals and the way they were produced, coupled with ESG credentials. Nornickel, whose products we carry, sets a new standard for responsible mining by fully endorsing the UN2030 charter and the existing LBMA source of metal standards. This gives our ETC platform a [...] clear differentiator.”
As reported, Nornickel has recently joined an initiative called the Responsible Sourcing Blockchain Network, which was set up to improve the transparency, traceability and verification of sustainable practices in the global minerals and metals industries. The network is built on the IBM Blockchain platform, similarly powered by Hyperledger Fabric.
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