The New Zealand bank used the blockchain to send meat to South Korea

A prominent bank has claimed a piece of New Zealand export history by sending some meat to Korea and spotting it with the fancy new blockchain system.

ASB, a subsidiary of the Commonwealth Bank of Australia, said it has carried out the bank's first trade with the New Zealand bank. Meat exporter of meat Greenlea Premier Meats conducted meat trade with a major Korean importer.

According to the announcement (localized by the local media), all relevant trade-related documents were able to be uploaded, shared and updated on the ASB platform.

The platform platform of the bank was used alongside the traditional trading process, indicating that ASB probably did not trust to rely on distributed accounting technology (DLT) just now, a wise move.

"We export to 40 different countries and are able to use the ASB blockchain platform to remove weaknesses and ensure data integrity," said Greenley exec Jack Vollebregt. "We also especially as the direct translation capability that will limit any misunderstandings or human error that may arise from dealing with businesses with different countries and time zones. "

The idea is to use the ASB blockchain to reduce the time that local exporters spend on documenting the commercial process, reducing exposure to cyber-security scams and threats in the process.

The parent company of ASB, the Commonwealth Bank, is already in the export game. He watched a truck of Australian almonds with his platform platform earlier this year.

An ASB partner pointed out that the existence of a standardized verification for the shipping industry could automate the shipping industry by protecting local businesses from the risk of costly transit cases.

Unfortunately, they seem to exist of course not technical features of the ASB platform. Hard Fork has reached specific details about its technology, but the surface appears to be another privately-owned, distributed distributed accounting system.

It appears that ASB will try to perform the experiment again, along with trade with other nations importing New Zealand meat. The ASB says the next stage is to use the blockchain to trade via air and announce the participants in the coming weeks.

Post November 1, 2018 – 10:59 UTC