The MTRAX project provides a way for all stakeholders, including mining companies, smeltersprocessors, transporters, exporters-importers, intermediate-final manufacturers, to identify and efficiently manage risks throughout the supply chain of mineral resources.
The MTRAX platform plans to build a technology infrastructure based on Hyperledger Fabric throughout the mineral supply chain to integrate, protect, and track mineral data flows from various participants in the MTRAX system.
Companies are increasingly affected by the U.S. Conflict Minerals Act and other regulations on minerals, including importers of minerals and producers of products containing minerals. Many companies have failed to establish their own systems to respond to these regulations, and the cost of addressing the rules of origin is increasing.
The MTRAX platform provides a digital infrastructure based on a blockchain that various stakeholders can trust. A deposit policy is implemented for new entry partners and platform management and is set differently according to the position of the participating companies and the proportion of mineral handling.
MTRAX is a network that connects participants in the upstream and downstream and end consumers based on mineral data. Therefore, sharing reliable mineral data among participants in MTRAX and compliance with diligence processes and principles for a responsible mineral supply chain are important factors in the development of the ecosystem.
Participants can pay for the costs of issuing and managing certificates with an MTRAX token. It can be used as a payment method in inter-company transactions within the MTRAX platform. When a smelter purchases minerals from a mine, a certain amount is paid first, and the balance is automatically paid if there is no risk of conflict mineral • responsible mineral and the quality of the mineral contracted is met.
In reality, it is difficult to induce payment methods to token for all transactions within the MTRAX system. We support both the fiat currency of each country and MTRAX tokens. We will design a token economy that is differentiated from fiat currency because the ecosystem that the project is ultimately aiming for should have a virtuous cycle structure possible only with MTRAX tokens.
MTRAX Token
MTRAX
ERC-20
10,000,000,000 MTRAX
18
0xdCc0CCf18186Bb5f364CaE12D74FFb5aeC32e7d0