The Commonwealth Bank of Australia announced about the successful completion of its first trade deal with Europe using its new blockchain based platform. The deal involved the local and international chain leaders. And the bank has been using its new blockchain platform to ship 17 tons of almonds from Melbourne to Hamburg, Germany.
The platform has been developed to enhance multiple aspects of the entire supply chain process. The platform completely digitizes the three main areas of the global trade procedure: operations, documentations and finance. All information related to the container, task completion, shipping documentation is housed in a blockchain built for those purposes.
And four IoT devices were even tracking the humidity levels inside of the container.