“The founders set up a robust selection process, including a two week hackathon, to ensure that we chose the right technology partner to meet our industry’s needs,” said Stefano Rettore, independent advisor to the project. “ConsenSys presented prototypes that demonstrated excellence in its field and has a track record of using blockchain technology to digitize processes in the commodity trade finance industry. We are confident this partnership will allow us to build a first-class product, centered around unparalleled functionality, security and privacy.”
ConsenSys will leverage its enterprise-ready blockchain solutions and services, including PegaSys Orchestrate, Kaleido and MythX to build the blockchain network on Ethereum. It will build a secured platform based on Quorum, a permissioned Ethereum-based blockchain protocol, to cater to both small and large players across the supply chain.
“The strength of the Covantis initiative’s commitment to leverage innovative, best-in-class technologies to transform global trade operations for agricultural commodities is inspiring,” said
The Covantis initiative was created in
Interested parties can learn more about the initiative by visiting www.covantis.io.
About the Covantis initiative
Covantis is a blockchain initiative focused on modernizing global trade operations. The founding members, ADM (NYSE: ADM),
Note on Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of U.S. federal securities laws, including statements regarding the anticipated development, success and benefits of the proposed digital platform. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will" and "expect" and similar statements. Forward-looking statements are not historical facts and involve inherent risks and uncertainties. Several factors could cause actual results to differ materially from those contained in any forward-looking statement, including in this case the risk that the platform may not be successful or fully achieve the objectives of the participants. Further information regarding risks associated with forward-looking statements is included in
Source: Covantis initiative
Jackie Anderson (USA)
Bunge News Bureau
Jane McBride (Australia)
April Nelson (USA)
Louis Dreyfus Company
Karen Saddler (Switzerland)