Annual production of IRON was $ 252 Billion, and annual financial trading value of IRON was only $ 3 Billion in the figure above from Credit Suisse. GDP growth bet alternative COPPER production was $ 135 B (half of IRON), while annual financial trading value of COPPER was $ 13048 B (4349 times higher than IRON) the same year.
Both are GDP growth derivatives (copper wires in building and iron reinforcement in buildings). If annual trading value in IRON meets annual trading value in COPPER, the potential for an IRON asset backed token is huge if issuer is trusted.
The difference in current financial trading volume is probably due to the fact that iron rusts and has a lower value pr. ton. These facts creates a fantastic opportunity for investors, if a trusted IRON asset backed token is created.
Harmonychain has several patent claims pending within Blockchain Technology for Commodity Producers wishing to conduct future sales with Blockchain audit trail accounting system with the Norwegian Industrial Propery Office and the European Patent Office that is part of the Patent Cooperation Treaty (PCT) comprising 152 countries. This Pat. Pend. application filed first in 2017 and subsequantly epanded in 2018 and 2019 comprises 3 families of several patent claims. Harmonychain works with Tier 1 U.S. Patent Law Firm Finnegan for PTAB Litigation. We are also assisted by European Pat. Pend. Prosecution company Zacco.
For more information, check out our Intellectual Property Rights and Technology Pat. Pend. Licence Partner Element.