Blockchain Grain Trading Platform Sees Commercial Launch to Tap Russia Market

Blockchain-based agriculture trading platform Cerealia has announced its commercial launch, Bloomberg reports Tuesday.

STORY CONTINUES BELOW

Recommended for you:

Aiming to facilitate trading of physical grains, Cerealia is focusing on the international market for Russia, the world's largest wheat supplier.
The project has already undergone a series of trial transactions with participating companies from Japan, Dubai, Ukraine, Turkey, Algeria and Brazil, per the report.
Allowing shipments as big as 20,000 metric tons, Switzerland-based Cerealia aims to provide faster trades and more traceability using blockchain tech.
“Traders can now be 100% certain they really did the trade, versus traditional over-the-phone brokerage,” CEO Andrei Grigorov said.
The agri-trading industry has been eyeing the potential benefits of blockchain for some time.
In 2018, four of the biggest agricultural corporations said they would use blockchain and AI to bring the international grain trade into the digital age.

Also read: Australia’s Biggest Grain Exporter Trials Blockchain Tracking System

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.