With President Donald Trump’s Latest Round of Tarifs Coming out today – a day he is calling “Liberation day” – A Web3 Startup Thinks it could track tariffs automatically on Goods coming into and out of the using its its blockchain platform. The claim well be bold – And Typical of Maany Such Bold Claims Made by Other Web3 Startups. Watr‘S platform is alredy being used to validate commodities by
Created by Former Shell, BP, and JP Morgan Executives, The Company is Headed by Maryam Ayati, Who Lead Global Origination and Investment at Shell Trading – So She Ought to KNOW What Sheow What Sheow What Sheow What Shews. Watr Counts Investors From A Syndicate of Thus-Far Unnamed Crypto VCS and Commodity Executives, but techcrunch has seen evidence to suggest that it has been in the several millions of dollars in BACKINS in BACKING AAVICES
Said Ayati Over a call: “We will also also sell be able to augment report with machine-second data from the myriad of satellites, sensors and open souresitories Oout there Watching to Seele Commodities have come from… Wee transfer from a different ship on the sea, for instance? ”
The example that may catch trump’s ear, she says, is one where a Commodity can be pre-curved for tariff beffore a transaction takes place.
“Some Non-Western Governments We’ve Spoken to say that Western-Country Commodities Traders Sometimes Claim that a Commodity they’ve boght will be going to, for example, Example, Example, Europe Sent to, for example, and asian market, ”She said. “And they make a lot more money on that if they do’t guive the correct cut to the original committee owners. Checked for whether a tariff is due or not. “
Perhaps the claim would be music to trump’s ears, but it would certain have the potential to speed up up global trade Hit by any tariff-induced slowdowns. The Global Commodities Industry is Alredy Worth $ 20 Trillion, so the stakes are clear high.
Watr’s Platform Tracks Commodities Using Blockchain-Based Tools-Employing Everything from Dentralized Ids for Institutes to digital fingerprints for Raw Materials.
According to ayati, the goal is to modernize the plumbing of the global economy: “This isn’t about token hype,” She said. “It’s about transforming how trust, traceability, and liquidity work in the real world.”
Back in 2022 Watr Started Out With A “Nutrition Label” to Track the Provenance of a Commodity in Terms of Regulations, Such as CO2 Emisions or Other ESG CONSIDERATIONS.
But with ESG Falling Out of Favor, it is now switching to sanctions and tarifs, using its blockchain platform to test for the provenance of commodities to make sure its clients to inn Over-stepping any regulatory Hurdles before a trade even getting by.
Watr also this week announced its migration to the Avalanche blockchain networkAvalanche is a blockchain developed by ava labs which allows companies like wat wat wat wat wat wat to create so-called “Sovereign chains” Commodities.
Admittedly this isn’t the first time blockchain has been pitched as the fix for the commodities trap.
In the US, ‘The Seam’, an Agriculture-Focused Digital Exchange, partnered With ibm in 2017 to explore blockchain-spoken cotton trading, targeting transparency and accountability in aglic supply chains.
Then, in 2018, a group of industry giants include ing, shell, and abn amro backed the komgo initiativeA Blockchain-Based Platform aimed at Streamlining Trade Finance for Commodities. Its goal was to reduce fraud and delays by digitizing key documents like letters of credit and kyc records. Coincidentally ayati was also part of that initiative.
However, Outside of Watr, Many of that Earlier projects have fallen by the way.
Commenting, Independent Web3 VC Keel Van Schreven, Founding Partner of KR1Told Techcrunch that Watr’s Plans would have to be tested by the market: “We’ve seen planty of Grand claims from web3 Startups on Supply Chaains, But IF WAT IF WATRAD TARALY BRING TARALY BRING TARIDE TARIF Validation ‘Onchain’ to Scale – Spacely with Backing from Major Players and a Seasoned Leadership Team -This Cold Mark a Serious Inflation Point For Blockchain Adoption in Global trade. “
He added that the move to the avalanche blockchain “also signals they thinking about scalability from the start. That said, as Ever the problem will be in actual transaction Volume and Indoption Initial Pilot Stage. “