China’s Call for Blockchain Adoption Taps VeChain for $7.1-Billion Tea Industry
China is building alliances with top tech leaders to guide the government’s efforts to adopt blockchain solutions across all industries. A new partnership with VeChain, a leading blockchain platform for enterprise solutions in supply chain logistics and traceability, will focus on Anhui, the 8th most populous province in China, and its $7.1 billion tea industry.
With the tea trade in Anhui reportedly engaging locals, VeChain’s collaborative efforts are economic in scope and are expected to contribute to China’s ongoing efforts to alleviate poverty, according to the company’s announcement.
VeChain, which already has a partnership with Walmart China to ensure food safety, will work with the Anhui Tea Industry Association, established in 1998.
“With VeChain technology, tea producers and stakeholders will stand to gain from increased efficiency and productivity in all stages of production in the supply chain as well in traceability efforts, which will strengthen the domestic and international presence of the Chinese tea industry.
The partnership would leverage the VeChainThor blockchain in every way possible.”
VeChain indicates that its latest big partnership will open the door to opportunities with hundreds of companies, sparking potential for its blockchain solutions to be deployed at scale by the 670 enterprise and 194 business owners that are linked to the Association.