Case Study: komgo achieves digitized, secure, and efficient commodities trade finance with ConsenSys

Catalyzing the Global Trade and Commodities Finance Network with Blockchain

komgo, the world’s first blockchain-based platform for the commodity trade ecosystem, faced an industry stuck in paper-based processes that caused miscommunication, fraud, long verification times and contributed to a $1.5 trillion trade finance gap. To digitize KYC, bills of lading and letters of credit at scale, komgo partnered with ConsenSys Solutions (and Kaleido’s Blockchain Business Cloud) to build an Enterprise Ethereum–based, permissioned platform.

ConsenSys provided strategic advising, architecture, development and full production deployment of komgo’s solution—enabling encrypted KYC, private peer-to-peer document exchange (Kite), digital letters of credit, APIs and hybrid hosting. The platform launched rapidly and drove measurable impact: supporting close to $1 billion of financing within a year, reducing time to issue a digital letter of credit by 99.58% (from 10 days to 1 hour), and delivering projected 30–40% cash-flow gains and 20–50% operational cost reductions across the value chain.

komgo

Souleïma Baddi

Chief Executive Officer