Although the virtual money was used to generate income by buying and selling at present, the main purpose was to have faster money transfers and global money. To this end, the world's first commercial shipping payment was made.
Shipping Foundation Primer by a wheat trade from Russia to Turkey transportation costs payment was made by Bitcoin. In the transportation process that took place last month, 3 thousand tons of wheat were transported to Samsun port from Rostov-on-Don port. A similar process took place in the United States last week. US agribusiness company Louis Dreyfus Co., China-based Shandong Bohi Industry sold soybeans for the Bitcoin counterpart.
Instantly converted to normal currency with created payment system
They said they used Bitcoin payment for pilot payment systems in a statement from the Prime Shipping Foundation. In the payment system used as a pilot, digital currencies are immediately converted into daily currencies.
Regarding the payment system that the company's CEO, Ivan Vikulov, has developed, "We are trying to develop a faster and easier one-stop payment system than is currently available. As far as we know, these crypto currencies have been the first to pay for the transportation costs so far. "
The fact that virtual money does not depend on any country or institution, gives more confidence in global trade. In the coming years, Blockchain-based virtual money will be used intensively in global trade.
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