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Barclays says conducts first blockchain-based trade-finance deal

Posted on 08 September 2016

Barclays and an Israel-based start-up company have carried out what they say is the world’s first trade transaction using blockchain technology, cutting a process that normally takes between seven and 10 days to less than four hours.
The transaction guaranteed the export of almost $100,000 worth of cheese and butter from Irish agricultural food co-operative Ornua - formerly the Irish Dairy Board - to the Seychelles Trading Company. The deal was executed via a blockchain platform set up by Wave, a firm that came through a Barclays development programme………………………………………..Full Article: Source


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