ING Group, a Dutch multinational banking services provider, has stated its assertive move towards blockchain-based initiatives in 2019. The firm is looking forward to implementing blockchain across various industries such as energy, crude oil, soybeans, metals, and mining.

The firm has shown its interest in Vakt, a blockchain platform developed for trade and commodity finance industry. The post-trade management platform aims to offer a secure blockchain-powered ecosystem for global commodities trading. The solution is claimed to improve the trading by streamlining transactions.

Arnoud Star Busmann, program director for blockchain innovation at ING, has said that the entity has collaborated with heavyweight firms to build an Ethereum-based blockchain for real-time settlement of physical energy transactions. The company is also exploring if blockchain can be used in supply chain traceability for metals and mining.