Ethereum Blockchain Used by Australian Bank for Cross Border Shipment

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The Commonwealth Bank of Australia (CBA) and five logistics companies used the Ethereum blockchain to transport a 17-ton container of almonds from Australia to Germany. This collaborative move served as a litmus test to prove a blockchain-based, global trade platform that builds an agile, efficient, and transparent shipping industry. CBA authorities believe the platform reduces paperwork and legal formalities for businesses, making the shipping process significantly faster.

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