Watr, a blockchain infrastructure aimed at the global commodity trade, has announced a strategic partnership with Avalanche to migrate to a Layer 1 blockchain.
Goals of the Partnership
The partnership between Watr and Avalanche aims to transform the global commodity trading landscape, encompassing metals, minerals, food, and fuel. The primary goal is to create an environmentally friendly and scalable financial platform for trading and financing in this sector.
Capabilities of Watr and Avalanche
The synergy between Watr and Avalanche offers significant advantages through Avalanche's robust development ecosystem, already trusted by institutions like JP Morgan and Citibank. The partnership is focused on creating compliant and efficient market infrastructure for commodity traders.
Key Components of Watr
Watr consists of several key components:
* WatrMrks provide end-to-end traceability of assets by recording origin and certification. * WatrIDs offer decentralized identities for professionals and companies. * NeoReserves provide liquidity for new commodity financing contracts. * VentureStream serves as a launchpad and investment hub for commodity-tech startups.
The Watr partnership with Avalanche marks an essential step towards modernizing trade through blockchain technologies, potentially leading to significant changes in the global economy.
