A few weeks ago Ledger Insights wrote about
DBS bank creating a commodity trade finance platform with AgroCorp. Today at Singapore Fintech 2018 the technology provider behind the platform, dltledgers, launched its
Software as a Service platform with 124 trading partners in production.
Client Agrocorp’s head of business development Vishal Vijay said: “The practice has been for parties in the supply chain to wait for physical documents to be generated and passed from one party to another before a transfer of ownership of goods occurs.” That typically takes 5 to 10 days.
Vijay continued: “There are two age-old processes that we are trying to revolutionize in dltledgers platform. One, you are to see a faster, more efficient generation and transfer of documents and, as a result, we will also be able to make and receive payments more efficiently. More than 4500 of our growers are connected to dltledgers blockchain, giving endless visibility to our customers, while offering the required privacy.”
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