Cargill Completes World’s First Blockchain Deal
Exchange was for a soybean shipment from Argentina to Malaysia
HSBC said on Monday it has made what it claims is the world's first commercial trade-finance transaction using blockchain, says a report from Business Insider.
The exchange was for a shipment of soybeans transported last week from Argentina to Malaysia. HSBC handled the deal for U.S. food and agricultural group Cargill, in partnership with Dutch ING Bank NV.
Both used blockchain technology developed by the R3 consortium.
Read the full report here.