Blockchain-Based Solution for a Metals Trading Business
Blockchain-Based Solution for a Metals Trading Business
Information
Region:
Europe
Industry:
Financial Services and Banking, Commerce and Shopping
Type:
Web
Engagement model:
Fixed Cost
Duration:
1 year
Staff:
3 person
Technologies used
React
Node.js
Express.js
Front-end
Redux
Hyperledger Composer
Hyperledger Fabric

Challenges

Our engineers concentrated on providing a simple and secure interface for managing private trade agreements. Our clients wanted a solution that supports business logic flows by strengthening security and usability.

Solution

The solution reduces both the possibility of errors and the redundancy of operations in the trade chain. It represents a web application that covers a variety of company’s needs with a warehousing company as the service provider. The user-friendly dashboard is based on the Material-UI component library, and the user interface makes the flow management as easy as possible, hiding complex logic under simple forms, cards, and lists.

Organization Builder User Panel (Buyer & Seller):
  • explore warrants ownership history;
  • create trading agreements known as 'Deals';
  • determine whether the deal should be public or private, closing warrant history for further owners;
  • manage deals, assigning approvers and adding buyer organization;
  • confirm deals when agreement conditions are fulfilled;
Organization Approver User Panel (Approver):
  • explore warrants ownership history;
  • approve assigned deals;
Warehouse User Panel (Keeper):
  • manage warehouse content, adding warrants and setting its' status;

Specific features

All deals, users, and warrants data are private due to the blockchain restrictions nature. The list of access control rules makes sure that users are authorized to retrieve only specific pieces of information from the ledger and nothing more.

Results

The outcome project is a solution with a high level of client-server-blockchain architecture. It relies on the Hyperledger Fabric blockchain underhood, which makes a secure and decentralized ecosystem providing data persistence. Besides, blockchain technology allows participants to revisit the transactions history in case of controversial situations.

Unlike other blockchain platforms, Fabric establishes private channels between participants and no 3rd party can obtain information from it. As Fabric is a private blockchain network, it benefits from a high transactions confirmation speed and no fees. The most distinctive feature of the solution is the possibility of managing complex trade agreements with a simple yet powerful and user-friendly interface.

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