Home / Blockchain / Blockchain: Brazil’s Vale conducts first iron ore sale via blockchain – Reuters UK

Blockchain: Brazil’s Vale conducts first iron ore sale via blockchain – Reuters UK

Blockchain:

By Reuters Staff

1 Min Read

Sept 3 (Reuters) – Brazil’s Vale conducted its first iron ore sale via blockchain to a subsidiary in China of Nanjing Iron & Steel in what the mining company said was an important milestone towards digitalization of sales.

The letter of credit was issued through Contour’s blockchain platform in a procedure that significantly reduced the quantity of e-mails and paperwork, the mining company said.

Reporting by Anthony Boadle Editing by Chris Reese

Our Standards: The Thomson Reuters Trust Principles.

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