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Cargill and Rabobank apply Blockchain to the global wheat business

Robobank and a number of logistics service companies have joined hands with the US agricultural giant - Cargill and agribusiness company Argocrop International to bring an application to support the wheat business from South America to South America. Southeast Asia. By using Singapore's Blockchain platform dltledgers, buying and selling transactions become easier.

1. Shorten transaction time



According to primexbt trading, it can take up to a month to execute a transcontinental trade contract in the traditional way.

However, wheat trading companies can use dltledgers' Blockchain platform to conduct end-to-end digital transactions, digitizing documents and transaction processes. This helps the parties reduce the contract signing time to 5 days.

In the words of Jennifer Davidson, Head of Commercial Transactions at Cargill:

"We see this opportunity as a demonstration of a new way of working, using technology to overcome challenges, towards the goal of improving trade capacity as well as ensuring traceability and security. food, nutritious food..."

Rabobank South America executive Mario Cortinhal and Singapore counterpart Olivier De Jong think they can minimize document processing time with smart contracts, which are characteristic of Blockchain technology.

See more: Bitcoin SV Roadmap requires an access password

2. Using Blockchain in Food Supply

Blockchain technology is widely used in the food industry and supply chains. From Starbucks to Nestlé, the food industry continues to develop this technology.

On April 6, Nestlé announced the use of its Blockchain technology IBM Food Trust for its coffee brand Zoégas.

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