Swiss companies use blockchain to market agricultural products
A couple of Swiss companies made an experimental transaction on a blockchain aimed at selling wheat
The consortiums Transoil International and Solaris Commodities work selling agricultural products, specifically flour, wheat and vegetable oil. They carried out a joint pilot test on a decentralized platform created for the sale of agricultural products by the Swiss startup Cerealia.
Similarly, the companies agreed to send 25,000 metric tons of wheat from the port of Novorossiysk in Russia. Those involved in the operation said that it was the first business in the grain industry on a blockchain and even more on products from the northern coast of the Black Sea.
For its part, the transaction was examined and evaluated in detail by an independent auditor who confirmed the smart contract, the digital signatures and kept track of the times. This certified that all the information was encrypted and without being modified.
The use of the blockchain platform minimizes potential risks and conflicts, because distributed accounting technologies (DLT) help control the different phases of the operation more effectively.
Producers and sellers of agricultural products are paying increasing attention to block chain technology to carry out their transactions for the purchase and sale of cereals.
L.Sáenz
Source: Coincrispy
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