Tuesday, February 27, 2024

HashCash Consultants recommend direct P2P Commodity Trading on blockchain using smart contracts

HashCash Consultants is a multinational blockchain development firm that promotes blockchain-based technology in a variety of sectors. HashCash Consultants advocates peer-to-peer energy trade to secure the electricity grid’s smooth operation, premised on its newest study.

Uniform units must be established in terms of volume, quality, and availability in energy and commodities transactions. In the current market arrangement, transaction fees demand defined criteria. To reduce transaction costs in the global market structure, standardized parameters and lot sizes are required. If the proposal does not meet the specified requirements, traders are unable to sell on wholesale energy exchanges. As a result, intermediary agents are hired to negotiate contracts.

To allocate the commodity as per specified requirements, HashCash solutions use smart contracts overlaid on the blockchain. It enables them to do away with the need for mediators. With reduced lot sizes and no external stakeholders, management fees are drastically reduced.

HashCash Consultants’ CEO, Raj Chowdhury, is quoted as saying that they understand the necessity to standardize commodities or energy units. They are, however, unable to accept the hefty transaction costs associated with the process.

The HashCash dev team is renowned for its extensive smart contract design knowledge and proven competence. HashCash solutions are used in a wide range of industries that are looking for new ways to innovate.

Given this context, blockchain technology strengthens prosumers by enabling direct, P2P commodity acquisition and sale. As a result, developing and enhancing private producers’ and consumers’ market roles via direct selling or purchase using human or automated means.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

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