Renowned Executive: Blockchain Tech to Revolutionize Commodities Market

Oct 11, 2018 at 0:32

Blythe Masters, chief executive officer of Digital Asset Holdings, said that the blockchain technology is set to produce a massive change in the commodity markets.

Bloomberg reported that the former JPMorgan Chase executive expressed the sentiment at the London Metal Exchange annual dinner during LME Week in London.

“Supply chains are notoriously complex and inefficient,” Masters noted, adding that there are “tens if not hundreds” of blockchain projects that are now in development to address several implications from mining through shipping to trading.

She also mentioned that the technology is being welcomed in commodity markets as it can be maximized to track material through supply chains in gold, diamonds and oil with greater confidentiality, fewer paper exchanges, better provenance and a boost in productivity.

Notably, Masters became famous when she became a managing director at JPMorgan Chase at 28 where she headed commodities and helped develop the credit-default swap.

After her stint with the bank, she formed her own company that is now designing software that will enable banks, investors and other market players to use blockchain technology in revolutionizing the trade of bonds and assets.

Aside from serving as one of the most prominent supporter of Bitcoin and blockchain, she is also a member of the Chamber of Digital Commerce’s board of advisors since 2015.