Hassan Maishera
HBAR Foundation, the development team behind the Hedera blockchain, announced via a blog post on Thursday that Fresh Supply Co (FSCO), the largest user of Mastercard Provenance and a partner of Commonwealth Bank, has migrated from the private Mastercard blockchain to the public Hedera network.
By tokenizing assets and events throughout the agrifood supply chain at scale, FSCO is actively digitizing food production and trade, enabling complete transparency and deep, verifiable data for financiers, the HBAR Foundation added.
FSCO is migrating the whole of its existing business onto Hedera, leveraging the Hedera Consensus Service (HCS) and Hedera Token Service (HTS). In the future, FSCO plans to integrate with the Hedera Guardian in preparation for work with governmental institutions.
Hedera Hashgraph is distributed public ledger infrastructure. According to the team, it offers significant improvements over existing blockchains in five areas: performance, security, governance, stability, and regulatory compliance. HBAR is trading at $0.0715 at press time, up by 7% over the last 24 hours.
