World’s First Major Agricultural Trade Using Blockchain Completed, Resounding Success

In a first for the global agricultural industry, a cargo shipment of soybeans has been completed using Blockchain technology. The trade was carried out digitally using Easy Trading Connect Blockchain platform, according to Reuters. Deeper lookThe shipment from America to China involved five different parties including Louis Dreyfus Co, Shandong Bohi Industry Co, ING, Societe Generale and ABN Amro.The Louis Dreyfus Company, a multinational agricultural merchant, has hailed the use of Blockchain technology in trade due to its efficiency. The company's head of trade operations, Robert Serpollet, estimated that the use of Blockchain to process the contracts and certificates greatly reduced the usual time it would take for a trade like this to be approved.
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