First cryptocurr­ency freight deal takes Russian wheat to Turkey

Dünya Executive - - OVERVIEW -

The f rst fre ght deal settled n B tco n was executed last month on a vessel carry ng wheat from top sh pper Russ a to Turkey, accord ng to Pr me Sh pp ng Foundat on, the venture beh nd the transact on. The cons gnment was part of p lot test of

Pr me Sh pp ng Foundat on’s blockcha n payment system for bulk commod t es, sa d Ch ef Execut ve Off cer Ivan V kulov. The ledger-based d g tal technology w ll enable mmed ate process ng of payments and convers on nto and out of cryptocurr­enc es, accord ng to the company, a partnersh p between G braltar-based Quorum Cap tal Ltd. and sh p broker Interchart LLC. The group s also plann ng to create ts own d g tal currency. “We are try ng to develop a cross-border payment system that’s eas er and faster than what’s ava lable now,” V kulov sa d by phone. “As far as we know, th s s the f rst fre ght deal done n a cryptocurr­ency.” Bloomberg

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