EMCODEX’s new utility token EMCO is on the hot ICO list
Emerging Commodity Decentralized Exchange or EMCODEX is a commodity market. The company recently announced its anticipated launch as the first emerging commodities Decentralized Exchange around the globe.
EMCODEX aims to democratize the commodities market and uses blockchain technology to achieve that goal. Currently, only a few giant global commodities trading firms dominate the commodities market, and they trade mainly oil and coal, along with agricultural products, metals, and diamonds.
However, using EMCODEX means investing energy, time, and money into removing the current barriers that the commodities market imposed. Those obstacles block producers of various new products, and the company wants to give these producers easy access to the market.
Technology enables traders to deal directly with each other in a decentralized market. The “old” way of trading on the commodities market is profitable for middlemen as they force producers to lower their margins and charge exorbitant service fees.
Tomasz, EMCODEX CEO and cryptocurrency expert stated that in 2008, the world’s top 20 independent commodity traders published a record net profit of $36.5 billion, up roughly by 1,600% from $2.1 billion in 2000. He added that those 20 trading houses profited by $250 billion over the last decade, more than the top five carmakers combined.
EMCODEX wants to change the centralized system
EMCODEX isn’t the only company aiming to change the centralized system. Other important ventures are also trying to change society’s norms along with it to create a better and more equitable world, where everyone could realize profits from investments.
Tomasz noted that it is frustrating to want to engage in certain deals, only to find out that they are out of reach. However, his company wants to be known as a one-stop-shop for trading commodities as a decentralized commodities exchange. He added that anyone should be allowed to list and standardize a new commodity and do that without central authority permission.
EMCODEX has recently launched its utility token to offer investors more advantages. A total of 100000000 EMCO tokens are available during the ICO, and the price is $0.16 per token. The sale will end on Aug 28, 2021. The token got a high ranking on the ICO listing websites.
Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. If you are interested in following the latest news on the topic, please follow Finance Brokerage on Google News.