CryptoMetalExchange pioneers crypto metal exchange
MetalZoom.Energy advises that it has embarked upon the creation of the world’s first Crypto Metal Exchange.
The founder of MetalZoom.Energy Marc Ward tells us “Our Crypto-Metal Exchange will provide a platform for miners to auction physical metal to the global consumer without any interference. The blockchain technology ensures zero corruption and results in untampered supply and demand forces to play out transparently.”
Ward, a Data Scientist who scored a perfect 800 on the quantitative GRE wrote an algorithm that correctly predicted the next move of the Nasdaq 100 futures market 88 per cent of the time, over 4,000 times each trading day.
Ward believes that our markets are rigged by algorithmic dictates causing the price of precious metals to be controlled. “I see it as a closed-loop algorithm that announces the prices continuously throughout the day across all futures markets and humans in brokerage firms reacting to the change in prices”. As it is a closed-loop no one can overwhelm this pricing mechanism.
MetalZoom.Energy aims to disrupt this system by using open source Linux Hyperledger Fabric blockchain to enable open bid auctions of Cryptocurrency for metal delivery. Ward explains that “the futures exchange settles in debt currency instead of metal delivery. We plan to disrupt this by having metal ready for delivery and enabling consumers and investors to bid for that metal delivery with Cryptocurrencies across a transparent yet private blockchain framework”.
There are other facets to MetalZoom.Energy including Crypto Metal Mining which will enable miners to initiate a mine to produce metal. Those who acquire these Metal Delivery contracts will fund the miners directly via smart contracts with Cryptocurrency payouts and expect delivery of the metal extracted by the miners via the MetalZoom delivery services.
Ward is embarking on a tour to Africa where he aims to promote MetalZoom.Energy to the local crypto community and convince miners to offer their metal for auction on the Crypto Metal Exchange. Ward arrives in Johannesburg on 18 October 2017. He will be the keynote speaker at a business breakfast on Thursday 19 October 2017 being held at the Wanderers Golf Club in Sandton, hosted by Mail & Guardian, before moving onto Cape Town where he will be attending several events.