United States based agricultural conglomerate Cargill has let it be known that it will be investing in digital engineering resources that will help develop the Hyperledger Grid. This is according to an announcement made on Jan 25.
What is the Hyper-ledger Grid You may Ask?
Hyperledger Grid is a recently announced project from Hyperledger that aims to streamline supply chains by using blockchain technology. Cargill the U.S’s largest privately held company with $114.7 billion in revenue, states that, the Hyperledger Grid can “accelerate development of blockchain and other digital solutions for the global food and agriculture supply chains.”
Cargill also adds that the Hyperledger Grid project will bring with it a suite of tools that will address agricultural supply chain issues which will include; traceability, trade settlement, and food safety. Though the announcement clearly revealed what Cargill intends to do and why they want to do it, it did not give specifics regarding the nature of Cargill’s investment.
This is not the first time that Cargill has explored Blockchain technology applications in its business. October last year saw Cargill partner with Archer Daniels Midland Co., Louis Dreyfus Co and Bunge Ltd with the aim of digitizing international grain trading using the Blockchain as well as artificial intelligence (AI) technologies. The four firms, known as ABCD, will integrate blockchain technology on different levels of the supply chain, including storage, shipping and customer experience.
These companies have already delved into the Blockchain space, with Louis Dreyfus Co. completing its first blockchain based shipment in January last year, which saw them send Soybeans from America to China through the Easy trading connect blockchain platform.
The main company behind the Hyperledger Grid project, Hyperledger, is a large collaboration hosted by the Linus foundation and includes tech giants like SUP, Intel, and IBM as well as financial institutions such as JP Morgan and Deutsche Borse. Last month saw the company bring in 12 new partners some of whom included Alibaba Cloud, Deutsche Telekom, Citigroup, among others.
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