EMCODEX stands for: Emerging Commodity Decentralized Exchange. So called commodity market is nothing else than a market where theoretically goods should be traded. In economics, the term commodity is a basic good used in commerce that is interchangeable with other goods of the same type. Commodities are most often used as inputs in the production of other goods or services and the quality of a given commodity may differ slightly, but it is essentially uniform across producers. From the point of view of a potential participant in this market (producer) this market is now no longer a market in which actual commodity exchange takes place, and it is primarily a market captured by speculators such as banks, financial institutions, or funds of various kinds.
We would like to invite you to get acquainted with our project, the aim of which is to democratize the commodity market using blockchain technology, understood as spreading access to this closed today for a wide range of potential market participants. The very name of our project speaks for itself. EMCODEX stands for:
The modern commodity market is already historically structured in a typical centralized system and is dominated by the inefficiencies of the middlemen who control it. Emerging commodity producers must pay skyrocketing fees when standardizing new commodities, if they are given the opportunity to enter the market with their goods at all and a small number of huge commodity trading firms dominate the production, transportation and trading of commodities.
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