Mining Giant BHP Completes $14 Million Iron Ore Trade Using Blockchain

Mining Giant BHP Completes $14 Million Iron Ore Trade Using Blockchain
фото показано с : cointelegraph.com

2020-6-29 11:44

Multi-billion-dollar mining group BHP announced it has completed a $14 million iron ore trade using a blockchain platform.

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First-Ever Blockchain Letter of Credit Transaction Carried out by Chinese Steelmaker

Baosteel, a Chinese steelmaker, along with Australian mining firm Rio Tinto, have completed a renminbi (RMB)-denominated letter of credit (LC) transaction using blockchain technology. The LC transaction facilitated by Standard Chartered Bank (SCB) represents the first-ever paperless cross-border deal in the iron ore industry finalized in China’s fiat currency.

2020-5-14 15:16