Today the agribusiness initiative
Covantis announced that ConsenSys will be its lead technology partner. The consortium consists of the world’s largest agribusiness companies Archer Daniels Midland (ADM), Bunge, Cargill, Glencore Agriculture and Louis Dreyfus.
Two months ago, the group
unveiled its branding and revealed more details about its plans to digitize post-trade processes with blockchain, AI, and other solutions. At that stage China’s
COFCO was one of the partners, but is not currently.
The project’s aim is to move away from manual processes to enable efficiencies and cost savings. The consortium plans to launch its first platform this year, subject to antitrust clearance.
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