The blockchain began to be used for intercontinental trade in wheat. Bargains are concluded on millions

In the middle of April, 2020 the blockchain platform for intercontinental trade in wheat which was transported from North America to Southeast Asia was for the first time used. The transaction is estimated at $12 million.

Cargill and Agrocorp together with Rabobank and other logistic partners performed calculations for delivery, using a blockchain platform which was developed by the Singapore company Dltledgers. According to partners, the new blockchain platform will help to provide effective intercontinental trade in agricultural products after Covid-19 pandemic.

The blockchain platform for intercontinental trade in wheat which was transported from North America to Southeast Asia was for the first time used

As partners in the carried-out transaction Cargill, Rabobank North America, Rabobank Singapore, shipowner Amarante, the ship agent of Transmarine and the agrofood Agrocorp International trader acted. A solution blockchain of Dltledgers it was provided on the Hyperledger Fabric platform open source.

The blockchain platform as it is reported, provides the reproduced basis for end-to-end digital control of transactions, allowing to digitize documents and process of execution of transactions and creating the general uniform source for all partners. Thus all parties have a monitoring opportunity in real time that saves from problems with ownership of data and simplifies exchange of documents.

We constantly look for the modes of work which will help to make supply chains of food and agricultural products more inclusive and will allow to react to requests quickly, - the head of department of trade in Cargill Jennifer Davidson explained. — We consider this transaction as the last example of how joint work and use of technologies for problem solving can improve trade and also traceability, security of foodstuff and many other things.[1]

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