Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

VeChain Becomes First Public Blockchain to Join Cross-Continental Food Supply Chain Initiative Led by AliPay

by Daily Hodl Staff
May 6, 2020
in Blockchain
[the_ad id="93550"]

VeChain is the first public blockchain protocol to join the new APAC Provenance Council, a consortium for tracking food exports, such as wine, barley, beef, grapes and other produce, from Australia to China, the former’s largest trading partner. 

The new supply chain ecosystem is helping to reduce typical payment terms from 30 days to same-day. Using VeChain’s blockchain and transactions powered by AliPay and Mastercard, the network’s food suppliers will gain access to instant payments and will also be able to trace transactions on Mastercard’s permissioned ledger.

With the breakdown of key systems worldwide across a number of industries due to the coronavirus pandemic, blockchain technology is emerging as a cost-efficient, secure and fast way to integrate multiple participants for cross-continental trades and keep supply chains running smoothly.

According to VeChain,

“On one hand, the pandemic is posing a direct threat to food and beverage manufacturers and vendors around the globe, escalating the challenges of maximizing profits, conserving healthy cash flow and creating value. Particularly in cross-continental trading, the financial pressures facing suppliers are heavily impacting their cash flows, which calls for immediate invoice finance to quickly unlock unpaid invoices and stimulate business growth. On the other hand, the public awareness of food safety is unprecedentedly high.”

VeChain also cites a Shanghai study tracking new behaviors in light of the global pandemic. It confirms that Chinese consumers, still affected by the coronavirus outbreak despite recent reports that China has flattened the curve, are prioritizing food safety and health.

David Inderias, APAC Provenance Council Executive Chairman, says providers such as Fresh Supply Co, Source Certain International and Laava, all network members, can leverage integrated financing and payments.

“In a post-COVID world when many commercial entities are in decline, we are growing by making sure we are delivering economic value, meeting industry needs, as well as including funding sources for industry.”

[the_ad id="95413"]

VeChain ToolChain will allow food suppliers in Australia to receive faster payments while recording the product’s entire delivery cycle on the blockchain.

The tech will generate immutable data that is fully transparent and accessible, including dispatch and vehicle information, logistics updates, required carrier licenses and cargo temperature.

 
Check Latest News Headlines


 
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Travel mania

Submit a Press Release

Industry Announcements

  • Swappi (PPI) Announces First Exchange Listing on BitMart
    July 1, 2022
  • Yield App Joins Forces With Unstoppable Domains To Simplify Web 3.0 Journey
    July 1, 2022
  • ARK Has Introduced a New Blockchain Consensus Technology
    June 30, 2022
  • Cantina Royale Taps Elrond Apes To Boost Its In-Game Cross Chain NFT Collections
    June 28, 2022
  • Saddle Finance Announces End of Lock-Up Period for Its SDL Token
    June 24, 2022
  • NFTs Accessible to All With Launch of Fiat-Focused SIMBA Market
    June 23, 2022
  • Korea Blockchain Week To Hold First Live Event in Seoul After Covid Hiatus
    June 23, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$19,954.86
$19,954.86
4.14%
Ethereum
$1,143.87
$1,143.87
8.55%
Cardano
$0.460368
$0.460368
2.55%
XRP
$0.322577
$0.322577
1.28%
Dogecoin
$0.067876
$0.067876
2.43%

Spotlight

  • Veteran Trader Tone Vays Updates Bitcoin Forecast As BTC Clings to $20,000
    June 30, 2022
  • Crypto Analyst Who Nailed Bitcoin Collapse This Year Issues Warning, Says Fresh BTC Crash Imminent
    July 3, 2022
  • Crypto Legend Who Called 2018 Bitcoin Collapse Says One Chart Could Be the ‘Big Tell’ for BTC
    June 28, 2022
  • Under-the-Radar Hedge Fund Altcoin Surges 130% in One Week, Defying Crypto Downtick
    July 1, 2022
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2022 The Daily Hodl