About MTRAX Coin

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.

Meet the MTRAX Wallet.

What MTRAX Needs To Improve

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.

  • Unreliable Resource Flow
  • Difficulty In Identifying Supply Chain
  • Inefficient Mineral due Diligence and due Diligence Response

Establish a supply chain management system based on a blockchain

In order to respond to the demands of the international community, information on the origin of minerals, mines, smelters, etc. will be transparently stored in the blockchain, and the following key environments will be provided to each stakeholder. Ultimately, MTRAX, with these solutions, will increase transparency in mineral information and facilitate the widespread participation of stakeholders in mineral systems by eliminating the risks inherent in conflict and liable mineral at an efficient and low cost.

Like other databases, the blockchain database provides a platform for recording supply chain transactions from mines to smelters. In the mineral and metal supply chain, the following mineral properties can be recorded in the blockchain system.

Blockchain-based upstream logistics flow management

MTRAX provides the infrastructure to record and track the flow of minerals throughout the entire supply chain from mining to smelting and refining, including logistics.

The mineral is collected, separated, added, and deformed along the process. This requires sophisticated management systems standardized by mineral. One of the important criteria for determining the authenticity of a record is to show that there is no disruption in succession and management between the stakeholders involved since the record was created.

Blockchain-based Downstream Chain of Custody System

MTRAX provides an infrastructure for tracking and inquiring the entire path in real-time to upstream stakeholders, including mineral exporters, distributors, buyers of parts containing mineral, and manufacturers of products containing parts.

Based on the due diligence guidance, MTRAX will work with organizations such as RBA and RMI, which have provided general management systems and due diligence services to companies offline, to build the system MTRAX targets in a short time and will engage all upstream stakeholders, including RBA and RMI, into one system.

Blockchain-based Certification Management System

MTRAX uses blockchain to verify the reliability of the certification. The issued certification is registered in the blockchain, so third parties who need to verify the authenticity of the certification can verify it even if the agency is closed.

The system will be designed so that information owners can control user access to documents for the privacy of sensitive data.

MTRAX Platform

Chain of Custody System
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Chain of Custody System
The MTARX Platform manages CoC Material to be recognized as an Eligible Material available for processing, transportation and distribution.
Management System
Each participant can perform CoC management tasks according to the standardized process through the MTRAX platform, and will proceed with paperwork that is consistent, measured and recorded in accordance with the accompanying procedure manual. Due diligence/auditors can verify and evaluate whether participants have correctly registered required documents in compliance with established standard processes.
Internal Material Control System
Companies that handle both eligible and non-eligible materials can separate them to avoid mixing them. The company will perform the following tasks for each process provided by the MTRAX platform to enable traceability of individual CoC materials assigned a unique identification number.
  • Production process
  • Incoming and outgoing management system
Eligible Mined Materials
In the MTRAX Platform, eligible mined materials are determined through the CoC management system. Due to strict regulations such as OECD due diligence guidance, companies that mix materials from ASM or other mines may have difficulties in managing these risks.
Eligible Recycled Material
Eligible Recycle Material can also be managed in the MTRAX Platform. In the case of recyclable materials, the place of origin is the collection point, and all materials used for recycling are registered and managed by CoC-certified smelters, and KYC registration ensures that resources according to legitimate sources can be provided.
Eligible Material Declarations
Eligible materials managed through the MTRAX Platform are managed transparently with CoC information registered in the blockchain, preventing forgery and alteration. Because the data storage and verification and disclosure by multiple participants via MTRAX distributed ledger method enable secure, accurate, and transparent data entry and retention of values, any participants can check CoC information for these eligible materials.
Chain-of-Custody Transfer Documents
CoC Certification companies create Chain-of-Custody by continuously recording the material sources when transporting along the supply chain. The MTRAX platform provides all this information based on a blockchain basis to ensure that the upstream information is immutable, so downstream companies can access the source information directly without any individual contact with the companies in the supply chain.
Hyperledger Fabric-based Blockchain System Configuration
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Hyperledger Fabric-based Blockchain System Configuration
The blockchain-based Resource History Tracing System MTRAX platform plans to build a technology infrastructure based on Hyperledger Fabric. The Hyperledger is a project organized to advance blockchain technology under the leadership of the Linux Foundation, providing an environment suitable for building corporate business. Hyperledger is largely composed of the following configurations.
MSP(Membership Service Provider)
Builds participants' organizations, manages access right to the network to manage the scope of information disclosure.
Authentication and Security
Authorizes only parties with the correct encryption key to make transactions.
Consensus algorithm
Unlike existing blockchain, three-step data processing on authenticated nodes eliminates the need for computing power or additional resources.
Smart Contract
Use code to automate business processes and perform various functions.
Extending Application Services with DApps
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Extending Application Services with DApps
The Hyperledger Fabric blockchain network consists of participating PEER nodes, and each PEER has a distributed ledger and chaincode. The distributed ledger where data is stored is accessed through the PEER's chaincode to record or read data.
Secure transparency in mineral supply
Share critical business information by providing a decentralized database that can be accessed by upstream and downstream customers over the web.
Trace the history of mineral processing and distribution
It is possible to record product characteristic transformation information according to the supply chain process including crushing, washing, grinding, separation, etc. in the distributed ledger.
Interlink with cryptocurrency
It provides storage and transmission/reception services for cryptocurrency, and manages cryptocurrency distribution in connection with the distribution and supply process of mineral.
Issuance of certification
Each step issues its own certification to respond to mineral audit measures based on the OECD Due Diligence Guidance and the US Dodd-Frank Act.
Certification management
At each stage of the mineral being supplied from the mine to final product production, certification issued for compliance with regulatory policies and for proof of origin can be viewed and
Extension of ecosystem
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Extension of ecosystem
The membership service provider (MSP) is a component that aims to provide an abstraction of the membership operations architecture. Specifically, MSP abstracts all cryptocurrency mechanisms and protocols for issuing and validating authentication and for user authentication. MSPs can define their own identity concepts and rules governing identity and authentication.
Initially, it consists of a single private network of upstream and downstream stakeholders of mineral, but gradually expands participants to other mining entities, and furthermore, the entire ecosystem will be composed of participants in related industries such as finance and transportation, forming the above complex blockchain network.
Efficient Mineral Management System
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Efficient Mineral Management System
Through the MTRAX Platform, each participant from the upstream area of the mineral production to downstream of processing the smelted mineral, can share the mineral information with each other and establish an efficient mineral management system through reliable supply chain.
Upstream participants
Mines, mineral brokers, purchasers, and suppliers record the source and distribution channels of minerals in the blockchain-based MTRAX country of origin indication system for minerals produced in mineral resource countries such as conflict areas in Africa. This can effectively respond to the mineral history needs of participants in downstream areas.
Downstream participants
Since there are various suppliers of the 1st to Nth order depending on the industry, there are complex information and certification requirements from many companies. Through the management of the MTRAX history management system and the supply chain, it is possible to transparently and quickly identify the source, history, distribution channel, etc. of minerals to submit a usage report questionnaire and perform due diligence.
Smelters
MTRAX induces partners and participants to supply or purchase minerals from smelters certified by the Conflict-Free Smelter Program which is free from conflicts with Electronic Industry Citizenship Coalition.

MTRAX Token Economy

Requirement System

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.

Token Reward

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.

Payment Purpose on MTRAX Platform

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.

Benefits

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.

Token Info

Token Name

MTRAX Token

Token Symbol

MTRAX

Token Type

ERC-20

Total supply

10,000,000,000 MTRAX

Decimals

18

Contract Address

0xdCc0CCf18186Bb5f364CaE12D74FFb5aeC32e7d0

Token
Distribution
Funds
Allocation

Road Map

Business Development Roadmap
2020 Q3 Selection of pilot company
  • Miner
2020 Q4 Selection of pilot company / Support
  • Primary processor Selection
  • Mine Support
  • Primary processor Support
2021 H1 Selection of pilot company
  • Transporter
  • Importer and exporter
2022 H1 Support pilot company
  • Mine Support
  • Primary processor Support
System Development Roadmap
2020 Q3 Configure Requirement
  • Miner
2020 Q4 Configure Requirement
  • Miner
  • Primary processor
2021 H1 Configure Requirement / System design
  • Primary, Secondary processor
  • Transporter, Importer and exporter
  • Parts/Product Manufacturers
  • Upstream
2021 H2 Configure Requirement / System Design
  • Parts/Product Manufacturers
  • Certification authority/agency
  • Upstream / Downstream
2022 H1 Pilot operation
  • Upstream
2022 H2 Pilot operation
  • Downstream
Platform Operation Roadmap
2023 H1 Platform Operation
  • Upstream
2023 H2 Platform Operation
  • Upstream
  • Upstream + Downstream

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