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Blockchain Collaboration Delivers Almonds to Germany

Credit: Commonwealth Bank

By MarEx 2018-07-30 19:39:27

17 tons of almonds have successfully been shipped and tracked from Sunraysia in Victoria, Australia, to Hamburg in Germany in a blockchain-based collaboration between Australia's Commonwealth Bank and five Australian and international supply chain organizations.

The shipment was a demonstration of Commonwealth Bank's new platform, underpinned by distributed ledger technology, smart contracts and the internet of things (IoT), and the shipment was tracked from packer to end delivery. Shipping partners were able to upload and access key documents, such as bill of lading, certificates of origin and other documents required by customs.

The bank partnered with global agriculture player Olam Orchards Australia, Pacific National for rail haulage, the Port of Melbourne, stevedore Patrick Terminals and shipping carrier OOCL Limited. Hardware and software support was provided by Australian IoT provider LX Group, and the Ethereum blockchain platform was used. 

The 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. 

In 2016, the Commonwealth Bank and U.S.-based bank Wells Fargo successfully completed the first global trade transaction via blockchain between two independent banks.