Economy Banks, traders launch first commodities blockchain platform Updated : September 20, 2018 06:40 AM IST The platform will be run by a venture called komgo SA, based in Geneva, Switzerland, and is due to go live later this year. Banks and major trading firms have been testing numerous pilot schemes across commodities over the last few years but this venture will be the first that any firm can join. Blockchain, originally the platform behind cryptocurrency Bitcoin, is viewed by many as a solution to trade and settlement inefficiencies, and to improving transparency and reducing the risk of fraud. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.