Commonwealth Bank reveals details of blockchain-based trade pilot

The Ethereum blockchain platform has been used to help track an international shipment of almonds as part of an experiment backed by the Commonwealth Bank of Australia.

A blockchain platform was used to help facilitate the shipping of 17 tonnes of almonds from Sunraysia in Victoria to Hamburg in Germany. In addition to CBA, Olam Orchards Australia Pty Ltd, Pacific National, the Port of Melbourne, Patrick Terminals and shipping carrier OOCL Limited participated in the project.

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Australian IoT company LX Group provided hardware and software support.

The blockchain platform operated in parallel to existing processes. CBA said that the private blockchain housed data on the shipping containers, derived from LX Group’s sensors, as well as shipping documents and the completion of tasks.

“Partners were able to view and track the location of the shipment as well as view the conditions, such as temperature and humidity inside the container, via four IoT devices,” the bank said.


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