US soya cargo to China traded using blockchain

London

A CARGO of US soyabeans shipped to China has become the first fully fledged agricultural trade conducted using blockchain, participants said on Monday.

Louis Dreyfus Co, Shandong Bohi Industry Co, ING, Societe Generale and ABN Amro took part in the trade where the sales contract, letter of credit and certificates were digitalised on the Easy Trading Connect (ETC) platform.