Today four of the biggest global agribusinesses companies
announced they plan to work together to digitize their global shipping transactions using blockchain and AI. They are also seeking broader industry participation. The companies are Archer Daniels Midland (ADM), Bunge, Cargill and Louis Dreyfus. Cargill is by far the largest of the group.
It’s interesting to know how talks like this get started. Earlier this year
ADM and Bunge had merger discussions, but those ended without a deal.
In the case of Cargill and Louis Dreyfus, both have been involved in high profile blockchain pilots with banks.
Cargill was involved in the
Voltron letter of credit pilot, and Louis Dreyfus Company (LDC) as part of the ING Easy Trading Connect commodity trade finance project which has since morphed into
komgo.
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