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   523

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.

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   121

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.