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Global agriculture supply chain partners to make transaction via blockchain

Friday 17 April 2020 13:06 CET | News

Cargill, Agrocorp, Rabobank have announced working together via a blockchain solution to ensure intercontinental agricultural trade.

Cargill and Agrocorp, in partnership with Rabobank and other logistics partners, have completed a cross-continent commodity trade transaction of wheat from North America to Southeast Asia on a blockchain platform provided by Singapore-based dltledgers.

The shipment, valued at USD 12 million and settled on 1 April 2020 from North America to Indonesia, occurred with six trading partners participating on a common blockchain platform.

Partners included Cargill, Rabobank North America, Rabobank Singapore, ship owner Amarante, shipping agent Transmarine, and agri-commodity trader Agrocorp International. The dltledgers blockchain solution is built on the open-source Hyperledger Fabric platform.

The blockchain platform provides a framework for end-to-end digital trade executions, digitalising the document and trade execution process. The trade took a total of five days to settle, whereas traditional trading processes can take up to a month. 


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Keywords: supply chain, transaction, blockchain, Cargill, Agrocorp, Rabobank, partnership, trade, North America, Asia, Singapore, dltledgers, Indonesia, Amarante, Transmarine, open-source, Hyperledger Fabric
Categories: Blockchain & Cryptocurrencies | E-invoicing, SCF & E-procurement
Countries: World
This article is part of category

Blockchain & Cryptocurrencies