China and US Concluded First Blockchain Commodity Deal

Shandong Bohi Industry from China sold  soybeans to the American Louis Dreyfus via blockchain
23 January 2018   775

The Chinese company Shandong Bohi Industry for the first time used the Easy Trading Connect (ETC) blockchain-platform to sell soybeans to the American agricultural enterprise Louis Dreyfus. This is reported by Business Insider.

The deal was also attended by the banks of ING, Societe Generale and ABN Amro. The supply of soybeans from the United States to China has become "the first complete commodity transaction in the field of agriculture using a blockchain-based platform."

Distributed ledger technologies have been evolving rapidly, bringing more efficiency and security to our transactions, and immense expected benefits for our customers and everyone along the supply chain as a result.

Gonzalo Ramírez Martiarena 

CEO of Louis Dreyfus Company

It is worth noting that the ETC platform greatly simplifies and accelerates trading operations. In particular, it digitizes documents, such as purchase and sale agreements, letters of credit, and reduces the need for legal support for the transaction. According to the group of developers, the technology allowed to speed up the conducted transactions five times.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   91

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.