1 August 2026
Blockchain Technology Used To Trade $12M Worth Of Wheat
Yes, you hear it right! Trade took place between two international agriculture giants for $12 million worth of wheat.
The two global agribusiness corporations Agrocorp and Cargill carried out a wheat trade from North America to Indonesia. The transaction was made through the Singapore-based blockchain platform ‘ Dltledgers’ based on Hyperledger Fabric. The transaction involved International cooperative bank Rabobank, shipowner Amarante, and shipping agent Transmarine.
The wheat trade was settled on 1st April that helped in saving time over manual processes which also increased security and transparency. It lowers down the need for paperwork and complex traditional trade settlement processes.
Mario Cortinhal and Olivier De Jong, the key facilitators of Rabobank stated that time they had typically spent processing documents had been cut in half.
Various fields have become aware of the significant use of blockchain technology and as a result, it is widely used all over the world. As of now, Dltledgers, the Singapore based blockchain platform has facilitated more than $2 billion in trade for 400 companies, 45 banking partners, and several other ecosystem partners. The CEO of Dltledfgers, Samir Neji said major cross-continent wheat trade had proven their blockchain solution’s capacity to go mainstream.
The agriculture giant Agrocrop has been in blockchain-based trades from the past one year and also plans to carry out more trades via blockchain in the coming period.
The Jumpstart Magazine reports the statement of its Sustainability Manager Abhinav Vijay:
“Considering the current world climate and the logistical challenges to move physical documents around the globe, this is just a start and we hope to execute more trades via the platform in the near future.”
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