New York City – This morning, ChainTrade founder and CEO Vincent Jacques joined Jon Najarian of CNBC on the International ICO Channel as part of the Monaco Growth Forum. Together, they chatted about Mr. Jacques’ vision for the future of commodities trading, which ChainTrade plans to revolutionize through the blockchain.
“ChainTrade is the first platform based on the blockchain to trade commodity derivatives – agricultural products, metals, oil and gas, and other raw materials,” said Mr. Jacques. “We’re decentralizing these exchanges (…) which will dramatically lower the fees. We’re cutting them by more than half for producers, traders, and buyers.”
Host Jon Najarian asked Mr. Jacques how his company compared to much larger competitors like the CME group, one of the largest futures exchanges in the world – which recently announced that it would sell futures on Bitcoin.
Mr. Jacques replied that his company is actually quite different. ChainTrade uses the blockchain to trade futures on all commodities, not simply Bitcoin. Additionally, current exchanges, like the CME group, are a lot more expensive. They’re also inherently exclusive. They offer favored terms that are only available to bigger traders. By using the blockchain to decentralize, ChainTrade hopes to offer an equality of access to traders and sellers anywhere in the world.
Founded and led by investment banker and consultant Vincent Jacques, ChainTrade brings a wealth of tech startup and traditional trading experience to its vision. A robust advisory board includes the former CEO and co-founder of Nasdaq Europe, as well as the former director of strategy at the New York Stock Exchange.
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