Commodity Market Jobs In Bhopal
As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets.
Essential commodities declaration, etc
Mr Vishal Vijay, Head of Business Development at Agrocorp, said, 'Commodities has been an industry that has traditionally been slow to embrace technology. But amid an increasingly competitive landscape, more industry players are turning to blockchain as a means to broaden the reach of their business to stay ahead of the curve.
The convenience that an online platform brings to supply chain participants also fosters loyalty within the network, which generates greater trust between parties over time, allowing each trade to be completed quicker and with ease.
Going forward, in the next 12 to 18 months, Agrocorp plans to broaden the reach of the blockchain platform from Australia to its other key origination markets, including Canada, Myanmar, Ivory Coast and Ukraine. The commodities trading company also intends to increase the variety of commodities traded on the blockchain platform from pulses such as mung beans and chickpeas, to cereals, cotton, edible nuts and oilseeds.
In future, the blockchain platform will also have the ability to capture in-depth details about the source of the commodities, including the location and ownership of the farm that they are grown in as well as the farming practices employed such as the extent of water, fertiliser and pesticide usage.
This provides end-customers a transparent view of where their goods are sourced from and whether they are grown in line with their sustainability objectives. Farmers log into the blockchain platform to access commodity prices in real-time and register a sale. All sales and purchase agreements are subsequently stored digitally on the platform. This minimises manual intervention for financing and payments and adds to the agility and swiftness of the entire trade flow.
At any point along the path of the trade, counterparties can upload and view trade-related documents on the platform in real-time. All counterparties also need to validate any changes to any contractual terms on the blockchain platform as an added safety check. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: The bank's 'AA-' and 'Aa1' credit ratings are among the highest in the world.
The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named ' World's Best Digital Bank ' by Euromoney. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way.
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