Mining firm Vale completes first iron ore sale via blockchain
The Brazilian company said this was an important milestone towards sales digitization.
The Brazilian company said this was an important milestone towards sales digitization.
The certificate was registered using technology provided by a local startup and IBM.
The transaction led by local construction giant Cyrela and startup Growth Tech used IBM Blockchain technology.
The proof of concept was carried out using R3's Corda Connect open source platform and aimed at simplifying the process underpinning syndicated loans.
The Brazilian bank will work with MUFG on Ripple-based international money transfers.
The Memorandum of Understanding is aimed at exploiting the technology "in the interests of the development of the digital economy."
The offering reduces wire processing time from two days to two hours.