Fonterra pulls off first blockchain trade in China

Wed, 04 Nov 2020

Blockchain technology may be a way for Kiwi exporters to China to overcome the mountain of paperwork that slows deals, but it's still some way from becoming commonplace. The first successful blockchain trade transaction between Fonterra and China-based Sichuan New Hope Trading slashed the processing time from more than 10 days to less than 24 hours but the pilot took the better part of a year to set up. “With the transaction a success, Fonterra would like to continue working towards full digitisation of bill of ladings, but...

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