IBM Tracks Oranges on Blockchain

IBM has been continuing its trials of using blockchain technology, this time, by tracking 28 tons of oranges from China to Singapore. With Chinese New Year around the corner, this would be a good example to test how the technology could be used practically, within a real time frame. Reported by Coindesk, the main shipping document was recorded on a blockchain, which serves as proof of ownership of the goods, including a contract of the shipment. This process is much more efficient compared to the current process that involves mailing documents to several parties, which can take up to seven days. Utilising the blockchain method only takes a second! Earlier this month IBM and Ford launched a pilot blockchain for Cobalt Supply Chain.

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