Brazilian iron-ore major Vale has made its first sale using blockchain technology, a move which the company said was an important step towards the digitalisation of the sales and trade process.
The sale with Nanjing Iron & Steel Group International Trade, a subsidiary of Nanjing Iron and Steel, was for a cargo of 176 000 tons of Brazilian blend fines (BRBF) from Teluk Rubiah Maritime Terminal, in Malaysia, to China.