Cloudbreak’s Trading Platform And Blockchain
Besides selling minerals from its own mines, the Group has developed strong relationships with a multitude of suppliers of mineral and metal resources as well as buyers of them. These strong relationships have enabled Cloudbreak to become a trusted trading partner amongst its peers. Traditionally, a typical trade transaction in this sector would involve a lot of paper documentation, due diligence, testing and verifcation, and hence the processing of such would involve a long lead time and a large amount of manual labor.
In light of this, the Group is developing an online marketplace which will be equipped with the latest blockchain and smart contract elements.
Verify the authenticity of the buyers and sellers and the resources involved in the transactions
Reduce paper documentation and manual labor
Verify the grades and origins of the mineral and metal resources, and the results of valuations or relevant tests thereon
Enhance ESG compliance
Track and monitor the entire transaction process
The size of the mineral and metal market is over US$400 billion and is 5-6 times that of the general consumption market. By applying these technologies, more trust between eligible parties, higher cost savings, stronger security, and faster lead time will be achieved.
