Blockchain Platform To Track $2.5B Worth Of Tea Products

The Chinese province of Yunnan introduced the official launch of a blockchain-powered traceability platform for its Pu'er tea farms on June 3.

The blockchain platform was first introduced inside the 2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch Conference in Kunming, Yunnan. They will use the platform to conduct superiority management, gross sales, and mortgage funding operations on 42,000 hectares of farmland throughout the province.

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According to Chinanews, the province is illustrious for its darkish, fermented number of tea. It's the foremost Chinese agricultural merchandise exporter, and hit well-nigh $33 million in 2019 supported studies.

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Implementation of blockchain expertise in an tremendous business

The Pu'er tea business's merchandise yield a complete of $2.5 billion on common, supported the report.

By scanning QR codes inside the blockchain-powered platform, clients power be able to evaluate details about every product's raw materials base, manufacturing course of, warehousing, superiority testing, product gross sales, and medium of exchange system assist, and different knowledge.

The origins of the Pu'er tea business's curiosity in Blockchain dates once once more to 2019. The province wished to combine traceability options based mostly on blockchain expertise. They constructed a pilot program in March 2020 referred to as "Quality blockchain traceability platform."

So far, 25 merchandise from 25 corporations have been "successfully launched" by the platform, and the province hopes to combine new applied sciences in future. These embrace texture imaging recognition expertise, anti-counterfeiting expertise, and NFC encoding chip options.

Blockchain continues to collect recognition throughout China

China's romance with blockchain expertise continues to extend in latest months.

On May 14, The People's Bank of China projected a blockchain-based commerce finance platform for the Guangdong-Hong Kong-Macao Greater Bay Area. It's emphasis can get on world commerce and finance.

Cointelegraph reported on June 1 that Chinese government intend to show the southern island province of Hainan right into a free commerce port by implementing a blockchain-based platform.