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Blockchain Grain Trading Platform Sees Commercial Launch to Tap Russia Market
Agri-trading platform Cerealia will focus on international trading for the world's largest wheat market, Russia.
Blockchain-based agriculture trading platform Cerealia has announced its commercial launch, Bloomberg reports Tuesday.
STORY CONTINUES BELOW
- 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
Daniel Palmer
Previously one of CoinDesk's longest-tenured contributors, and now one of our news editors, Daniel has authored over 750 stories for the site. When not writing or editing, he likes to make ceramics. Daniel holds small amounts of BTC and ETH (<a href="https://qa.coindesk.com/editorial-policy/">See: Editorial Policy</a>).
