Ant Financial and Bayer Corp Science Partner on Agricultural Blockchain Solution

Asia Blockchain Review
October 4, 2019
Ant Financial and Bayer Corp Science Partner on Agricultural Blockchain Solution

Ant Financial has struck up cooperation with a leading pharmaceutical firm to upgrade food and crop production through technological innovation.

Reported by Token Post, The Alipay parent company has begun a partnership with Bayer Corp Science aimed at producing a solution for the agriculture industry using blockchain.

Blockchain-Powered System to Improve Food Production and Farmer Revenue

The reported cited an article by Ledger Insights, indicating that Ant Financial and Bayer Corp Science issued a letter of intent at the Apsara Conference in Hangzhou, China stating that they will work together to “develop a traceable agricultural product monitoring and service system.” 

The intention of the system is to improve farming efficiency, revenue for farmers, and the quality and safety of agricultural produce. 

Weidong Huang, Head of Bayer Crop Science’s Great China division, said, “By working side by side, we strive to assist the agriculture industry on its transformation in the new era, enhance the application of advanced agricultural technologies, increase agriculture production efficiency, improve farmer’s income, and protect food safety.”

Ant Financial Outlines Lofty Goals for Blockchain

Ant Financial has signaled it wishes to use blockchain technology to provide solutions to key industries. It has made known it is extending a partnership with Hyperledger to further develop interoperability, standards, and blockchain applications.

Geoff Jiang, VP and GM of Ant Financial’s Intelligent Technology Group, was quoted saying, “Agriculture is the foundation of human civilization. Together with Bayer, our exploration of blockchain in agriculture will improve the transparency and responsiveness of its supply chain, and bring more value to consumers, farmers and the society.”

Source: tokenpost.com


About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

    Related Article
    How Blockchain has Helped the Business of E-commerce
    Blockchain technology is poised to revolutionize the e-commerce business industry. It offers an unpa...

    January 23, 2020

    Securing SEA’s Financial Networks with Blockchain
    As cryptocurrencies gain wider use among Southeast Asians, so too must blockchain solutions be devel...

    December 30, 2019

    Thailand: The Land of Blockchain
    As the country forges ahead on its Thailand 4.0 development agenda, firm government commitment and s...

    December 27, 2019

    Blockchain for Safer, more Afforable Telecommunications in SEA
    This article examines the use of telecom services in Southeast Asia, the industry’s unresolved probl...

    December 16, 2019

    We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us