[2016-09-08] ToI: Barclays carries out world's first transaction using blockchai

[polynesia]

Barclays reportedly carries out world's first transaction using blockchain

http://timesofindia.indiatimes.com/tech/tech-news/Barclays-reportedly-carries-out-worlds-first-transaction-using-blockchain/articleshow/54169358.cms

Barclays and an Israel-based startup company have carried out what they say is the world's first trade transaction using blockchain technology, cutting a process that normally takes between seven and 10 days to less than four hours.

The transaction guaranteed the export of almost $100,000 worth of cheese and butter from Irish agricultural food co-operative Ornua -- formerly the Irish Dairy Board -- to the Seychelles Trading Company.

[dashingriddler]

Why was this not possible though bitcoin or Ethereum

[polynesia]

Why was this not possible though bitcoin or Ethereum

I think this should be possible using ethereum, given that it is nothing but a smart contract.
Ideally, the monetary part of such transactions should be settled using cryptocurrencies like Bitcoin.