USCF, Kadena Collaborate On Use Of Blockchain In Investment Space

Blockchain, News | May 14, 2019 By:

US Commodities Fund Investments (USCF) is collaborating with blockchain firm Kadena to advance blockchain-based investment products.

USCF operates as an investment management company. It offers asset management, equities, funds, commodities, trading, investment strategies, financial planning, and advisory services. The firm is known as an early pioneer of exchange-traded products (ETP), bringing previously difficult to access asset classes to all investors. The firm broke new ground with the launch of the first oil ETP, the United States Oil Fund, LP (USO), in 2006. Over the next decade, USCF designed and issued fifteen more ETPs and exchange-traded funds (ETF), across commodity and equity asset classes.

Kadena, a blockchain technology company founded by former JPMorgan and SEC technologists, is developing blockchain platforms for businesses and entrepreneurs by solving the speed, scalability, and security concerns that impede widespread blockchain adoption and offering simple solutions and tools for developing on a blockchain. The company claims that its platform is already being used by several Fortune 500 companies to improve operational efficiencies and data management in the sectors of healthcare and commercial insurance.

Under the partnership, USCF will leverage Kadena’s hybrid (public and permissioned) blockchain platform to identify new opportunities for innovation in asset management.

“Kadena has solved scalability and security constraints previously associated with blockchains to offer exciting potential applications,” said John Love, President and CEO of USCF.

Kadena developed its hybrid blockchain platform to address the scale, security, speed, and ease of use requirements of industrial infrastructure. The platform claims that its open source smart contract language Pact is unique in being simple and intuitive for both developers and business professionals, while also supporting the Formal Verification of users’ code.

Will Martino, Founder & CEO of Kadena, said that at Kadena, they build their partnerships with a focus on production-ready solutions to real problems in the financial markets.

“We are proud to collaborate with USCF in the investment space,” USCF has a history of diligent, creative leadership and I see them as financial services market leaders who share our vision of delivering everyday uses of blockchain.”