#CryptoCorner: Carrefour and Nestlé Use IBM Blockchain to Provide Transparency Across Milk Supply Chain, JPMorgan and Baton Develop Derivatives Margin Solution

#CryptoCorner: Carrefour and Nestlé Use IBM Blockchain to Provide Transparency Across Milk Supply Chain, JPMorgan and Baton Develop Derivatives Margin Solution

Stocks discussed: (OTC: $CRRFY) (OTC: $NSRGY) (NYSE: $IBM) (NYSE: $JPM) 

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An announcement today reveals that French multinational Carrefour (OTC:CRRFY) and Nestlé (OTC:NSRGY) are leveraging the IBM (NYSE:IBM) Food Trust blockchain platform to provide transparency across the supply chain for GUIGOZ® Bio 2 and 3 infant milk range. An excerpt from the press release reads:

This three-way partnership builds on Carrefour’s Act For Food programme. Blockchain technology enhances transparency and advances the food transition for extremely high-quality products, which parents expect for infant nutrition. For Nestlé and Laboratoires Guigoz, this innovative blockchain technology creates a new benchmark for transparency and the high standards of care required to ensure the quality of their products. In line with this position, Laboratoires Guigoz is proud to once again strengthen its close ties with consumers.

A report from Cointelegraph indicates that the government of India will not, as it had previously intended, consider a cryptocurrency-related draft bill during the winter session of Parliament. The draft bill entailed a complete ban on the use of crypto in India, along with a digital Rupee issued by the country’s central bank, the Reserve Bank of India. Parliament’s winter session runs from November 18 to December 13.

Investment banking giant JPMorgan (NYSE:JPM) and Baton Systems,, a provider of distributed ledger-based post-trade solutions for capital markets, have developed a solution to automate derivatives margin payments, according to a press release yesterday. According to the press release, the solution’s “resulting end-to-end automation of the margining and collateral workflows provides full visibility of the asset flows between J.P. Morgan and clearing houses, with complete audit trails and real-time notifications”, reducing “the need to pre-fund margin payments under the current market infrastructure related to margin settlements”. Anthony Fraser, Head of Global Clearing Operations and Trading Cost Management at J.P. Morgan, commented:

"The technology we have developed reduces the time needed to process the entire collateral workflow from hours to near real-time. We're already seeing faster, more efficient payments, reconciliation and reporting for all parties in the collateral lifecycle."

CoinDesk reports that BRICS (Brazil, Russia, India, China and South Africa) association of emerging economies have discussed the development of a shared digital currency to streamline trade and reduce reliance on the U.S. Dollar. The idea was brought up at a BRICS business council at a meeting in Brazil. Nikita Kulikov, member of the State Duma’s expert council in Russia, commented:

“Most likely, it will be like certain obligations that can be transferred from one legal entity to another to confirm that the recipient will have claim rights, and the contractor will have obligations for a specific amount. It will not be money, we can say that it will be a paperless document flow to facilitate transactions.”

Sam Mowers, Investorideas

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