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Bitcoin used to settle freight deal for first time

A logistics operator has used Bitcoin to settle a freight transaction for the first time, news site Bloomberg reports.
According to the venture behind the transaction, Prime Shipping Foundation (PSF), the deal went through last month on a ship carrying wheat from Russia to Turkey, part of pilot testing of PSF’s blockchain payment system for bulk commodities.
Ivan Vikulov, CEO of PSF – a partnership between investment enterprise Quorum Capital and shipbroker Interchart – told Bloomberg that the group is also planning the develop its own digital currency.
“We are trying to develop a cross-border payment system that’s easier and faster than what’s available now,” Vikulov told Bloomberg. “As far as we know, this is the first freight deal done in a cryptocurrency.”
The ship carried 3,000 metric tons of wheat from Rostov-on-Don in southeast Russia to Samsun in northern Turkey.

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