"komgo’s objective is to take pole position in catalysing the commodity trade network."
Head of Product
"Getting closer to the industry core of digital transformation starts at komgo."
"Blockchain has proven its game changing value for the complexities we aim to solve."
“We aim to create a network leveraging on blockchain technology to connect all the commodity trade finance actors”
how did we get here
ING, Société Générale and Mercuria team up to digitise the first blockchain-based oil transaction from Africa to China. The experiment - called “Easy Trading Connect” - was designed for paperless trading. The transaction included traders, banks, agents, and inspectors - all of whom performed their roles directly on the blockchain-based network.
ING and Société Générale present the results of the Easy Trading Connect blockchain proof-of-concept in London. The presentation proved speed, cost, and risk could all be improved through a blockchain-based solution.
Several of the world’s largest trading houses launch a unique collaboration to create and invest in a new venture, to be managed and operated as an independent entity. The new venture will develop a blockchain-based digital network to modernise and transform the industry.
ING, Société Générale, ABN Amro, and Louis Dreyfus Company (LDC) team up to repeat the African crude oil transaction, but with the first agricultural commodity.
Nine investors and VAKT team up to explore the potential of blockchain technology in commodities trading and to select IT partners for potential development.
Louis Dreyfus Company, Shandong Bohi Industry Co., Ltd, ING, Société Générale, and ABN Amro complete the first full agricultural commodity transaction on the blockchain with a shipment of soybeans from the US to China. The pilot, known as Easy Trading Connect 2, reduced data processing time from hours to minutes and allowed for a larger scope of blockchain implementation.
ING, Société Générale, ABN Amro, Mercuria, and Shell initiate the building of the first blockchain-based commodity trade solution based off the learnings of the two Easy Trading Connect pilots. They invite ten initial shareholders to the network.
On August 21, komgo is incorporated with 15 shareholders. komgo partners with ConsenSys and Kaleido to build and accelerate the network into production.
komgo goes live and begins automating global commodity trades.