latest news In a press release the company weekends, commodity trading
and management system The Seam announced that they are working closely
with IBM to create a consortium of the cotton industry devoted to the
creation of blockchain based "trade supply chain and the ecosystem." Efforts will utilize blockchain IBM technology and expertise, and will use Fabric Hyperledger in the industry-first.
In the hands of another company, the task may seem too big a challenge. The Seam, however, has a track record of success when it comes to this kind of innovative transformation. the company launched the neutral, the first online exchange cotton trading back in 2000 - an exchange that has seen tens of millions of transactions since the beginning of the operation. Only four months ago, the company introduced a commodity management platform for service peanut industry.
Given that history of success, there are many reasons to be optimistic that this cooperation will be fruitful for the cotton industry and everyone associated with it. For its part, IBM share the optimism. As IBM Research Sr Vice President Arvind Krishna said, "consortium approach using IBM Blockchain and Fabric Hyperledger can help create greater efficiency and serve as the foundation of a robust system for a great collaboration."
The Seam Chairman and CEO Mark Prior expressed optimism that the company:
"This new technology will be a transformation for the cotton industry. There are many organizations, processes, systems and transactions involved from field to fabric. Located at the intersection of agriculture, finance and technology, The Seam with the help of IBM, is uniquely positioned to introduce technology blockchain for cotton affiliated businesses worldwide. "