CEREALIA successfully demonstrated the beta version of it’s App in Turkey.

Our CEO has been lately on a week-long trip to Turkey — one of our important, key markets.

He has met a great number of grain market players (major flour mills and trading companies).

He successfully demonstrated the beta version of Cerealia App, validated it and started onboarding beta users.

This beta version enables companies to exchange contract terms, conclude the contract using digital signatures and make all the execution flow (except payments) using efficient Cerealia intuitive templates. All in an encrypted, safe environment, with all actions recorded on the blockchain.

After each action, companies were able to verify immediately that its been recorded on the blockchain.

Turkish companies were receptive and enthusiastic about the product.

All agree that high tech trading and financing platforms, like Cerealia, using digital: identities, docs and signatures, as well as new tools for payments and trade finance, using blockchain — is the not so distant future of agri-trading.

There have been plenty of questions, notably whether the digitally signed contracts with signatures and all actions recorded on the blockchain, would be acceptable to arbitration and banks.

Laws, stipulating that digital signatures are as legal as handwritten ones, are in force in the majority of countries. And use of digital original docs is expanding rapidly (for ex. Turkish millers already selling their wheat flour in containers using e-Bills of Lading).

We expecting other actors like banks to very soon widely accept the above mentioned efficiencies, as commodities’ trading badly needs them and this progress (including adoption of blockchain) is unstoppable.

Several Turkish companies have expressed their interest to particpate in our next pilot trades and join the platform as soon as it goes live (expected before the new Black sea wheat crop arrives).

Stay tuned!