Sirlibz
Blockchain-based agricultural trading platform, Cerealia has announced it’s commercial launch, this would allow companies to trade wealth, sorghum and other commodities.
The Switzerland based company is also aiming at the international Russian wheat market, so it aims at making the trading platform a fast, easy to use type of program. The platform has had a series of test transactions since the beginning of 2018. Firms from different countries such as Japan, Ukraine, Algeria, Brazil, and Dubai were involved in the pre-launch and pilot testing before the official release of the platform to the general public. A statement from the company shows that the volume ranges as large as 20,000 metric tons of grain.
“Traders can now be 100% certain they really did the trade, versus traditional over-the-phone brokerage,” Andrei Grigorov, Cerealia’s chief executive officer, said in the statement. “Instantly, they have digitally signed contracts and blockchain-registered records ‘forever.’”
Russian is the world’s top wheat exporter. Transactions span wheat as well as Corn, barley and other grains and vegetables oils markets, a statement from Bloomberg noted. Blockchain technology has been deployed and used in different sections of the world sectors including Agriculture.
Agricultural commodity blockchain trading platforms have been projects among start ups and heavy weights in recent times. Back in 2018, covantis SA was announced after the world’s largest agricultural commodity traders-Archer Daniels -Midland Co. Bunge Ltd, cargill, Cofco Group, Louis Dreyfus Co. and the agricultural arm of Glencore Plc-teamed up to stream trade. Prime shipping foundation piloted bulk commodities payments through blockchain, shipping wheat from Russia to Turkey.
Cerealia
Being industry experts, Cerealia targets roughly 400 bln USD/year global trade in grains, oilseeds, vegetable oils and feedstuffs with initial focus on very dynamic Emerging Markets’ part. The opportunities for improvements by new tech in this market are endless, as it largely remained in the same mode the last 100+ years. And most pain points & eagerness for solutions are situated in Emerging Markets.
https://www.facebook.com/cerealia.ch/
