Alipay operator Ant Financial has partnered with pharmaceutical big Bayer Crop Science, Monsanto’s proprietor, to develop a blockchain answer for the meals and crop business.
Letter of intent
Enterprise blockchain information outlet Ledger Insights reported on the partnership on Sept. 26, additionally noting that the 2 companies signed a letter of intent to develop their answer to extend traceability and transparency. Per the report, the initiative was introduced at this week’s Apsara Conference in Hangzhou, China.
Ant Financial additionally reportedly knowledgeable the general public that it intends to increase its partnership with Hyperledger to work on interoperability, requirements and blockchain purposes. According to the report’s writer, the agency’s Blockchain as a Service (BaaS) providing helps each its personal platform and Hyperledger’s Fabric.
Monsanto to make use of blockchain?
Bayer, whereas being greatest referred to as a pharmaceutical big, additionally acquired United States-based agrochemical firm Monsanto for $63 million final 12 months. An Ant Financial consultant higher illustrated the scope of the initiative:
“[The aim of the partnership is to] create comprehensive, blockchain-based solutions designed to bring greater transparency to improve food safety and the efficiency of agricultural supply chains.”
According to the report, agriculture “is now one of over 40 applications of Ant’s blockchain technology” and the agency additionally has initiatives in provide chain finance and rice traceability amongst others.
As Cointelegraph not too long ago reported, Ant Financial can also be launching a blockchain-enabled backend-as-a-service platform.
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