Chinese blockchain company VeChain announces partnership with ASI Group and DNV GL for cross-continental tracking of food and beverages
Public blockchain solution hopes to tap into Chinese consumers’ desire for safe, quality food
VeChain, together with its strategic partner DNV GL, has announced a tripartite collaboration with ASI Group to initiate a cross-continental logistics and trades solution powered by the VeChainThor public blockchain for food & beverage industry. The initiative is named Foodgates and uses the VeChain ToolChain™.
VeChain claims that it is the first platform powered by a public blockchain with verified and certified information of the full lifecycle of the products.
Scandals over product origin and quality in China over the last decade have heightened concern among consumers. This blockchain effort is therefore targeted at enabling Chinese buyers to purchase French products with a degree of confidence around origin, quality and safety.
DNV GL will act as a quality assurer for the data being logged onto the VeChainThor public blockchain.
Mathieu Borgé, Co-founder of Foodgates, ASI Group, said: "We developed a blockchain-powered solution which connects the best of French products to Chinese buyers, aiming at bringing transparency and traceability to the French-Chinese B2B market."
"The immutability of public blockchain coupled with verifiable information makes this solution really unique. We see the massive potential of this collaboration, as the products are reaching out to an enormous market in China," said Kevin Feng, the COO at VeChain.