Watr taps Avalanche to bring $20t commodities market onchain

Watr, a blockchain infrastructure platform looking at the global raw materials industry of $ 20 mud, should use the characteristics of the avalanche network blockchain for traction.

Watr announced the move to Avalanche (Avax) April 3 via a press release shared with Crypto.News.

Depending on the plate, migration to layer 1 blockchain Allows the application of the institutional quality infrastructure and decentralized financial liquidity in the real world supply chains.

The strategic partnership between the two platforms will bring the trade of raw materials and the financing of Onchain, giving users access to world trade in raw materials, including metals, minerals, food and fuel.

“Although it is an industry of 20 billions of dollars, assets of the real world as raw materials have barely scratched the surface of the adoption of Onchain,” said John Nahas, Director of Affa Labs. “Avalanche is designed for this exact moment – with sovereign channels, low latency and performance of institutional quality.”

Created by web3 and pioneers of basic products from Shell and JP Morgan, Watr has acquired recognition as a platform designed to digitize the financing of raw materials and trade.

The team says it has selected avalanche not only for its flourishing developer ecosystem, but also because of its growing adoption among financial giants such as JP Morgan and Citibank.

Watr aims to combine avalanche performance with its own characteristics, in particular decentralized identity, traceability and composable intelligent contracts, to accelerate the adoption of ONCHAIN ​​on the raw materials markets.

“Established web3 concepts such as DEFI, decentralized identity and intelligent contracts can approach fundamental constraints in funding, compliance and trade in raw materials,” said Maryam Ayati, founder and president of Watr Foundation. “Construction with Avalanche allows us to go beyond the development cycle and take advantage of the size and security of its ecosystem to decisively seize this opportunity.”

Watr uses its technological battery, including Watrmrks for end -to -end traceability and Watrides for decentralized identities adapted to professionals, businesses and institutions. The platform also uses NeoreServes for liquidity pools and Venturestream, a Launchpad and an investment center for goods technology startups.