The distributed ledger technology and cryptographic techniques used by blockchain ensure its security. Blockchain technology reduces the likelihood of fraud, data tampering, and unauthorized access by spreading data over numerous network nodes and encrypting transactions. The protection of sensitive data pertaining to coal trade, financial transactions, and supply chain management depends on this heightened security.

Blockchain technology improves efficiency by standardizing and automating formerly manual tasks, such as the trade of coal and the management of supply chains. Automating contract execution, payment settlements, and compliance verification are just a few of the many important parts of trading that smart contracts—digital contracts inscribed on the blockchain—take care of. By doing away with middlemen, this automation cuts down on operational expenses, speeds up transactions, and decreases the likelihood of human error.

Blockchain technology allows for full visibility over the whereabouts of coal shipments at every stage of the distribution process. Using the blockchain to record every step of the coal supply chain, from mine to transit to delivery, WTC can monitor the coal's provenance, quality, and whereabouts in real-time. By being open and honest, we may reduce the likelihood of fraud and fake goods while simultaneously increasing responsibility and meeting sustainability goals.