The Prime Shipping Foundation became the first organization to invoice freight in cryptocurrency in December 2017. The invoice was for about 3,000 metric tons of wheat shipped from Rostov-on-Don (Russia) to Samsun (Turkey), the Bloomberg news agency said. The consignment was part of pilot testing of Prime Shipping Foundation’s blockchain payment system for bulk commodities. While the cargo is small, it highlights the potential cryptocurrencies could play in agricultural commodity markets. Also it will help countries that are prohibited from purchasing goods in U.S. dollars because of imposed sanctions.
