Blockchain technology for first time used in international trade

Baku. 23 January. REPORT.AZ/ The crypto-currency and blockchain technology was first used for the commercialization of soybeans, which officially took place between the US and Chinese companies.

Report informs citing the Turkish media, the transaction took place between the US's largest food trading company, Louis Dreyfus and China's Shandong Bohi, through the ING Bank, Societe Generale and ABN Amro banks.

Global head of trade and commodity finance at ABN Amro, Karin Kersten said the operation carried out via blockchain technology in a very short time with no faults: “For this reason, I can say that blockchain technology has justified itself”.