Covantis, a blockchain agribusiness initiative backed by major industry company ConsenSys, has taken another step towards transforming global trade and supply chain operations. Backed by global agribusiness giants like Cargill and Bunge, Covantis has been officially established as a legal entity in Geneva after receiving all necessary regulatory approval. According to a March 31 announcement, the company is the joint initiative of six founding members: Archer Daniels Midland

Covantis, a blockchain initiative backed by global agribusiness giants like Cargill, has selected Ethereum-focused firm ConsenSys as its technology partner. On Jan. 23 a press release stated that within the partnership ConsenSys will build an Ethereum-based blockchain platform to digitize the post-trade finance industry and bring efficiencies and cost savings to the international agribusiness supply chain Excited to share that #ConsenSys was selected as the lead technical par