Responding to the food crisis: COFCO unites 5 major international food merchants to reconstruct the supply chain with blockchain

According to "Financial" magazine news, learned from COFCO, recently, China's largest grain, oil and food company-COFCO, combined with ADM, Bunge, Cargill, Louis Dreyfus Group, and Glencore Agriculture five international grain merchants, was established in Geneva, Switzerland A digital agricultural international trading company called Covantis SA, which is mainly committed to the international trade standardization, digitization and modernization of bulk agricultural products, replaces the transaction process that relies on paper contracts, invoices and manual payments, making global agricultural trade simple and safe And efficient. The newly established Covantis SA's key tasks will mainly focus on the electronic automated testing of the execution process after the trading of grains, oils and seeds. The first test is the soybean trade from the port of Santos in Brazil to China. .