According to a press release on the 25th of January 2018, the US based agricultural conglomerate, Cargill will be investing its digital engineering resources into the development of Hyperledger Grid. The grid is one of the most recent projects by Hyperledger that is geared towards streamlining the agricultural supply chain using Hyperledger’s blockchain technology.
Cargill Invests In Blockchain Technology
Cargill is currently the largest privately held firms in the United States. It has over $114.7 billion in revenue. The company has decided to speed up the development of the Hyperledger Grid which, in turn, will speed up the development of blockchain technology and many other digital technological solutions in the agricultural supply chain on a global scale.
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The company stated that the Hyperledger Grid provides the required tools for addressing the issues in the current supply chain. Things like food safety, traceability, and trade settlement will be addressed by the Hyperledger Grid. While the announcement didn’t disclose the exact nature of the company’s investment, it further confirmed the company’s commitment to blockchain technology.
Cargill Shows Interest In Blockchain
Cargill Shows Interest In Blockchain
Technology This isn’t the first time Cargill is making a move in the blockchain industry. The agricultural giant, in October 2018, entered into a partnership with Louis Dreyfus Co., Bunge Ltd., and Archer Daniels Midland Co. The goal of the partnership was to digitize the process of international grain trading using artificial intelligence and blockchain technology. All the firms involved in the process decided to integrate blockchain solutions in all the levels of the supply chain from shipping to storage all the way to customer experience.
In January 2018, one of the companies involved in the initiative, Louis Dreyfus Co., successfully completed a soybean shipment to China from America from a blockchain-powered platform, Easy Trading Connect.
In January 2018, one of the companies involved in the initiative, Louis Dreyfus Co., successfully completed a soybean shipment to China from America from a blockchain-powered platform, Easy Trading Connect.
About Hyperledger And Cargill
About Hyperledger And Cargill
Hyperledger is a corporation made up of some of the largest names in the technology and financial industry including Linux Foundation, IBM, JP Morgan, Intel, SUP and Deutsche Börse. Last year, the corporation announced that twelve new members have come on board. This included some well-known brands like Alibaba Cloud, an Alibaba subsidiary, Deutsche Telekom, a top telecoms provider in Europe, Citigroup, a mega financial services firm, we.trade and others.
Founded by Linux in 2015, Hyperledger aims at promoting blockchain interoperability by developing distributed ledgers and blockchains. The end goal is to increase reliability and performance of blockchain-based systems so that they can adequately support a global business network in different industries. The projects integrates different independent open protocols using a framework that permits use-specific modules.
The 15-year-old company, Cargill specifically deals with purchasing, trading and distributing grains and other agricultural products like palm oil. It also deals in energy, transportation and steel as well as livestock, food ingredient production and livestock feed production. The company also controls a large financial services arm that manages monetary risks in its commodity markets.
By exploring blockchain technology, Cargill intends take its business to another level. This is a plus for the industry as other companies that offer similar services might develop an interest in blockchain technology now that Cargill is exploring it.
Do you think Hyperledger’s blockchain technology is going to give Cargill an edge over competing brands?
