Barclays conducts first blockchain-based trade finance deal
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London
BARCLAYS and an Israel-based startup company have carried out what they say is the world's first trade transaction using blockchain technology - cutting a process that normally takes 7-10 days to less than four hours.
The transaction guaranteed the export of almost US$100,000 worth of cheese and butter from Irish agricultural food cooperative Ornua (formerly the Irish Dairy Board) to the Seychelles Trading Company.
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