17 Tons Of Almonds Have Reached Europe Due To The Blockchain Platforms
The Commonwealth Bank of Australia (CBA or CommBank) declared about the successful completion of a transaction using its new blockchain platform, according to a press release dated on July 30.
Due to the efforts and participation of five domestic and international “supply chain leaders”, the Bank applied blockchain to monitor the shipment of 17 tons of almonds from Melbourne to Hamburg, Germany.
Distributed Ledger Technology (DLT), IoT and smart contracts are in the basis of a platform that looks to develop and enhance some aspects of the supply process.
The platform digitizes ” three key areas” – global trade-operations, documentation and financing. The participants of the experiment were also able to monitor the temperature and humidity inside the container using IoT consisting of four devices.
This step reflects a broad trend developing around the role of blockchain technology in the supply arena, as Accenture and Boeing recently announced the use of blockchain technology to improve security of supply.