I like this concept, @rebelnutrtion:-), it is yet another example of where the blockchain can greatly reduce complexity and inefficiencies while adding transparency and validation to the process! One question I have is how it would work to overlay an options system, even to the extent of hedging for price stability of the big buyers. I have traded options in the commodity sector on and off for a few years, and I have not seen a good system yet for replicating the market-making side via DLS. You are spot on about the profit potential for the CME replacement! Very thought-provoking post:-)
Thanks for the kind words and a very insightful response. We have a strong start on this project however we are certainly looking for additional input. The futures aspect will be a challenge however we want to ensure that we maintain the direct relationship between producer and commodity consumer. Our hope is to concentrate more on a delivery contract system with the aid of block chain.