A state-owned Moroccan fertilizer company has executed a $400 million transaction using blockchain technology, in what it says is a first for intra-African commerce.
In a deal facilitated by the Eastern and Southern African Trade and Development Bank, OCP Group sold phosphate fertilizer exports to Ethiopia using blockchain technology, in a deal worth an initial $270 million. The remaining deals will be executed in the coming months, taking the full transaction value to $400 million, reports Global Trade Review.