CBA helps ship 17 tonnes of almonds on the blockchain

Commonwealth Bank and five major supply chain players have traded and tracked seventeen tonnes of almonds as part of a blockchain-based experiment.

The collaborators’ blockchain platform digitised three elements of the trade – operations, documentation and finance – by storing shipping container information, completion of tasks and shipping documents, on a purpose-built blockchain.

As well as the distributed ledger technology and smart contracts, partners were able to view and track the location of the shipment – from Sunraysia in Victoria, Australia, to Hamburg in Germany – as well as view the conditions, such as temperature and humidity inside the container, via four IoT devices.

“This level of data provided partners in the supply chain with a greater level of transparency and efficiency regarding the location, condition and authentication of the goods being transported,” the bank said.

Partners were also able to upload and access documents onto the private, Ethereum blockchain, such as bill of lading, certificates of origin and other documents required by customs. The experiment was run in parallel to existing processes.

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