2019-01-21 11:04:50
George Goognin: Using Blockchain TechDear community! Board member of MUF George Goognin has recorded a podcast, where he told: «how to establish a cross-border commodity trade with mutual multilateral of settings on a blockchain.»
To listen: http://diversifiedgame.com/george-goognin-using-blockchain-tech
For those prefering a text format, here you go:
Hi, everybody! I'm George, board member of Mile Unity Foundation, a public benefit and nonprofit organisation and we help governments and private companies to use blockchain technologies for the crossborder commodity trade, investments and money remittance.
What I would like to talk about is how to establish a crossborder commodity trade with mutual blockchain multilateral settings. It's very interesting that every year usage of the common banking system is getting worse and more complicated, because there's more restriction, sanctions, embargoes, limitations, etc.
So it's almost impossible to make a commodity trade using the old fiat banking system, because every payment could be blocked or reversed. It could be stuck in a currency control or whaterver. But at the moment the volume of the international commodity trade is about 2 or 3 quadrillion of dollars, a huge amount of money!
This energy has to flow somehow, no matter what bankers are thinking. So that's why we can see people all over the world are looking for some alternative to make the commodity trade possible. We're talking about only legal goods and services, not taking into account any criminal issues, such as trading oil, gas, corn or whatever.
So what we are now establishing and discussing with lots of ministries, trading chambers and presidents all over the world is a barter deals commodity trading exchange, which actually can provide a direct multilateral of settings between the importers exporters in different countries they can trade without using fiat money.
That's very interesting how the trade without money and volume of quadrillion dollars. That's what I would like to talk about.
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