Impact Of Comdex On The Commodities Market
A lot of times, we wonder what the fuss about commodities is all about. The truth is, no matter the level of technological innovations and developments we get to experience, there is no denying the fact that commodities will always remain relevant to human survival.
Although this article aims to point how Comdex will impact the commodity market, it's however important we get a proper understanding of what these commodities are before we delve into the main subject of this article.
What Are Commodities?
Commodities are economic goods and predominantly non fungible in nature. This means that they are not interchangeable and the market doesn't treat instances of these goods as equivalent, although some commodities can also be fungible.
Commodities are mostly raw materials, basic resources, agricultural or mined products, such as gold, silver or iron or grains like rice and wheat. Commodities can be divided into two categories that is Hard and Soft commodities. The mined products like gold fall under Hard commodities while agricultural produce like rice fall under Soft commodities.
The importance of commodities to humans cannot be overemphasized, as they are pertinent needs for human survival. The agricultural products are needed for food production, while the mined products like iron, crude oil are needed to provide energy and fuel for vehicles and machines, while precious metals like gold and silver provide us with industrial solutions and also a store of value.
However, despite the importance of these commodities to humans, especially the globally recognized ones like gold, silver and crude oil, they are not available to the everyday individual, only the rich and influential ones in the society can have access to them. Comdex comes to the rescue by introducing a decentralized synthetic commodities marketplace where everyone has a chance to own and trade global commodities and derive value from them Let's have a closer look at what Comdex offers.
Synthetic Commodities
Comdex with the help of blockchain technology will provide synthetic commodities and their financial representatiins. Synthetic commodities are tokenized versions of world commodities. Comdex will tokenize physical assets like gold, silver, oil etc such that everyday individuals with just internet access will be able to own global commodities.
Synthetic commodities DEX as proposed by the Comdex team will be of huge benefits to users because it presents an opportunity to trade the real value of these assets on-chain without getting caught up in the difficulties associated with owning the actual good itself.
Conclusion
Comdex is a huge project, if the team pulls this off, it will go down as one of the biggest blockchain innovations. The Comdex synthetics DEX is a huge opportunity for investors to trade the commodities market, a market that has always been a good hedge to inflation. Comdex seeks to explore this industry that has been largely inaccessible to a lot of people because of its complexities. The Comdex synthetic DEX promises to have huge demand when it gets launched because of its fully decentralized nature. Owning these global assets in its real version comes with a lot of drawbacks like the risk of confiscation, theft etc, but with the synthetic version, users are free from all forms of centralization. This is definitely going to be revolutionary.
About Comdex
COMDEX is a decentralized synthetics protocol in the Cosmos Ecosystem. Comdex builds solutions to democratize finance by giving investors exposure to a large range of asset classes.
For more details on Comdex, join the community:
https://t.me/ComdexChat
Website: comdex.one
Medium: https://medium.com/comdexofficial
Reddit: reddit.com/r/Comdex/
Discord: https://bit.ly/ComdexOfficialDiscord
