Applications: These are solutions for physical trading, commodity hedging and supply chain financing. Barter Block is our flagship solution which can be launched immediately whereas other solutions will be launched in Phase 2 when commodity tokenisation is underway. The following sections focus on implementing Barter Block. Refer to Appendix for specific use cases in decentralised commodity trading. Applications protocols: Smart contracts, standards and policies, crypto-economics and governance layers. These are the foundations on which solutions (applications) are built. A particular focus is on commodity tokenisation protocol (See below). Permissioned blockchain: We will work with partners to implement a permissioned blockchain based on Proof of Authority consensus to ensure: • Privacy: Transactions are auditable but their details are only known to parties tothe transaction and permissioned validators (e.g. banks, shipping companies,Binkabi). Privacy is of high importance to trading parties.• Speed: Public blockchains are currently limited in terms of speed. Permissionedblockchains based on Proof of Authority are faster.• Cost: Permissioned blockchains are substantially cheaper compared to publicblockchains.• Integrity: Although information is not directly written onto the main chain,periodic anchoring will enhance the integrity of our permissioned blockchainsolution.
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