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<br /> Blockchain<br /> for commodities<br /> Trading opportunities in a digital age<br /> September 2018<br /> Cutting costs<br /> Big Oil backs post-trade transformation<br /> Wholesale approach<br /> Europe tests peer-to-peer gas and power trading<br /> Going local<br /> Microgrids exploit prosumer potential<br /> Fighting fraud<br /> Digital ledgers trump paper trails<br /> Keeping it real<br /> Disruption is not guaranteed<br /> spglobal.com/platts<br /> Add Insight<br /> In a world where data is the new currency, you need the latest essential intelligence to make business decisions with conviction.<br /> As blockchain enters a critical development phase, it’s clear the potential is huge. From peer-to-peer commodity trading,<br /> to tackling fraud and cutting processing costs, blockchain is challenging established market models. But, to take advantage,<br /> companies will have to tackle issues such as speed, scale, cost, privacy and liability to make using it<a title="Blockchain for commodities page 1" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=1"> Blockchain for commodities Trading opportunitie</a> <a title="Blockchain for commodities page 2" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=2"> Add Insight In a world where data is the new cu</a> <a title="Blockchain for commodities page 3" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=3"> September 2018 Editor Siobhan Hall Contributors </a> <a title="Blockchain for commodities page 4" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=4"> Foreword </a> <a title="Blockchain for commodities page 5" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=5"> Blockchain can support this decentralization by e</a> <a title="Blockchain for commodities page 6" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=6"> Executive summary Blockchain is a distributed led</a> <a title="Blockchain for commodities page 7" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=7"> © 2018 S&P Global Platts, a division of S&P Globa</a> <a title="Blockchain for commodities page 8" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=8"> How blockchain works </a> <a title="Blockchain for commodities page 9" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=9"> These authority nodes, or validators, are governe</a> <a title="Blockchain for commodities page 10" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=10"> Selected blockchain activity in </a> <a title="Blockchain for commodities page 11" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=11"> n global commodities trading </a> <a title="Blockchain for commodities page 12" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=12"> Cutting trade costs </a> <a title="Blockchain for commodities page 13" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=13"> How blockchain can add value Accessibility: Bloc</a> <a title="Blockchain for commodities page 14" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=14"> Wholesale P2P trading </a> <a title="Blockchain for commodities page 15" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=15"> While some participants say their interest in Ene</a> <a title="Blockchain for commodities page 16" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=16"> Exchanges still core </a> <a title="Blockchain for commodities page 17" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=17"> The partnership of EPEX SPOT and LO3 aims at plug</a> <a title="Blockchain for commodities page 18" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=18"> Prosumer power </a> <a title="Blockchain for commodities page 19" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=19"> across the entire electrical infrastructure using</a> <a title="Blockchain for commodities page 20" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=20"> Strategic Singapore </a> <a title="Blockchain for commodities page 21" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=21"> Strategic Singapore crowdfund prices of palm </a> <a title="Blockchain for commodities page 22" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=22"> Digital derivatives </a> <a title="Blockchain for commodities page 23" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=23"> Digital derivatives automating collateral req</a> <a title="Blockchain for commodities page 24" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=24"> 24 © 2018 S&P Global Platts, a division of S&P Gl</a> <a title="Blockchain for commodities page 25" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=25"> “ The potential of blo</a> <a title="Blockchain for commodities page 26" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=26"> Tackling trade fraud </a> <a title="Blockchain for commodities page 27" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=27"> trade financing, according to a 2017 International</a> <a title="Blockchain for commodities page 28" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=28"> Taking stock </a> <a title="Blockchain for commodities page 29" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=29"> Taking stock </a> <a title="Blockchain for commodities page 30" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=30"> Breaking the rules </a> <a title="Blockchain for commodities page 31" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=31"> Commission set up an observatory in February 2018</a> <a title="Blockchain for commodities page 32" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=32"> Keeping safe </a> <a title="Blockchain for commodities page 33" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=33"> Keeping safe adversaries is both expanding an</a> <a title="Blockchain for commodities page 34" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=34"> Reality check </a> <a title="Blockchain for commodities page 35" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=35"> But it also poses a significant threat to current </a> <a title="Blockchain for commodities page 36" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=36"> Glossary Artificial intelligence: Bitcoin: Block</a> <a title="Blockchain for commodities page 37" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=37"> Proof of work: Prosumer: Private, permissioned</a> <a title="Blockchain for commodities page 38" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=38"> Notes </a> <a title="Blockchain for commodities page 39" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=39"> Notes </a> <a title="Blockchain for commodities page 40" href="https://secure.viewer.zmags.com/publication/d849c6aa?page=40"> spglobal.com/platts | support@platts.com Header L</a>