Watr, a blockchain platform that is designed to bring raw materials to the chain, has announced that it cooperates with Avalanche (Avax) and migrating towards an avalanche layer 1 (L1) Blockchain, according to the most recent information that will be shared with Finbold on Thursday 3 April.
The main goal of the partnership is to digitize raw materials trading and financing, including metals, fuel, food, etc.
Inketens trade on chains
Many sectors of the raw materials industry are known for limited liquidity and profitability.
Watr tries to tackle such problems by integrating decentralized identity, traceability and smart contracts to create a simplified gateway to bring raw materials closer to web3.
The company was founded by veterans with experience in Shell, BP and JP Morgan, including Maryam Ayati, the leading figure behind origin and investments at Shell Trading and one of the most influential women in the energy sector.
The partnership therefore combines the expertise of Watr in raw materials with the blockchain technology of Avalanche to build an interoperable, conforming and capital-efficient market infrastructure that includes everything, from mining activities and agricultural production to global finances.
Laying the foundation for the partnership is the adaptable L1 architecture of Avalanche with which Watr can make specialized block chains for every raw material and counterparty, while compliance with the regulations and performance of institutional quality.
Maryam Ayati added that Watr can shorten the development cycles and enjoy increased security by building on avalanche.
Water stack and Watrmrks
Watr relies on a series of technologies that are designed to bring transparency, safety and liquidity for raw material markets.
For example, the Watrmrks technology ensures complete traceability by taking up the origin, certifications and custody of each during its life cycle.
Already tested with some of the leading mining and car companies, the Watrmrks Tech is now ready to go live on Watr L1 and the wider avalanche ecosystem.
Subsequently, Watrids introduce decentralized identities for both professional, business and institutional customers, according to W3C and Keri (important infrastructure for event reception) and act as portable ID cards that give users access to applications, not only on whath, but also on other networks.
In addition, neores reserves, developed in collaboration with NEO, will operate liquidity pools for new raw material financing contracts to generate a new capital flow and to enable new contract structures.
Finally, Venturestream will act as a launch path and investment hub for startups of the raw material tech.