In the nearest future, application of the blockchain technology will fundamentally transform the agricultural financing, declared the Co-founder and CEO at the blockchain grain trade start-up - ceREALIA, Andrei Grigorov during his report at the seventeenth international conference Grain & Maritime Days in Odessa on May 25.
According to him, to date the volumes of grain trade on the physical market total nearly 420 mln tonnes at the sum of 84 bln USD. At the same time, buyers face the growing number of troubles to get USD, because currently almost all of emerging markets’ currencies are at record lows, due to much higher US Treasuries’ interest rates. Therefore, trading and trade finance in crypto currencies is the required solution of the USD access problem and the deficit of financing.
"Companies in our marketplace will be able to trade in cryptos through decentralized international blockchain payment services (then they convert the received cryptos into their local currencies on local crypto-exchanges). Together with our partners we will provide trade finance in cryptos as well. This is a new untapped source of trade finance," said the expert.
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