The release of the stableblock "Norilsk Nickel" is scheduled for autumn 2019, said Vladimir Potanin, the company's general director. One of the unique features of these tokens is the fact that they are backed by contracts for the trade of palladium and nickel for one hundred million dollars.
Norilsk Nickel (also known as Norilsk Nickel) is the world's leading palladium mining company.
The pilot project will be launched in the fall in collaboration with IBM based on the open resource Hyperledger Fabric (created by the Linux Foundation). At the beginning of the testing phase, a certain number of Norilsk Nickel contracts will be involved.
On May 6, 2019, at the International Economic Forum in St. Petersburg, Potanin made a series of official statements regarding tokens, tokenization of real products and future Norilsk Nickel plans.
“We have created an innovative product that makes the transition from an individual blockchain to a public one possible ,” Potanin said.
He also noted that the partnership with IBM provides the highest level of security for all parties involved.
Innovative solutions include the inability to change records; It also includes the digitization of data and the automation of business logic using smart contracts. As a result, the platform will be transparent and functional.
“After the successful completion of a pilot project worth hundreds of millions of dollars, we expect other companies to join the platform ,” Potanin said.
In March 2019, the volume of production of palladium produced by Norilsk Nickel reached its historic maximum, which once again confirmed the company's leading position in the global arena.
In addition, these records demonstrate that Norilsk Nickel is the very company in which to experiment with the tokenization of metals.
“After digitization, it may seem that products and services start a new cycle in the virtual world, sometimes they can cost even more than in the real world ,” Potanin said.
Publication date 12/06/2019
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