Today Fujitsu announced an investment in the Singapore-based Digital Commodity Exchange (DCX). In 2019 the Japanese technology company started working with startup rice exchange RiceX, a DCX subsidiary, to use blockchain for rice traceability. The partnership has since expanded along with DCX unveiling its fertilizer exchange FertX, with more commodities in the pipeline.
“DCX’s power to innovate commodity trading combined with Fujitsu’s advanced technologies such as blockchain will allow us to accelerate our digital transformation business for our customers, industry, and society,” said Ichiro Aoyagi, SVP, Head of DX Platform Business Unit, Fujitsu.
Ricex went into production in late 2020. After announcing its first three transactions in November, the company said it planned to have up to 20% of global rice buyers and sellers on its platform by the end of 2020.
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