Blockchain technology is soon going to be implemented in agricultural Industry for monitoring. In the recent news, it has been said that popular Bayer Crop Science has agreed to work with Ant Financial which is the payments affiliated to Alibaba, to create a blockchain technology for the operation of agricultural product.
And, the company has signed a Letter of Affirmation and shown its desire to use blockchain technology to escalate productivity and also, focus is on to enhance the income of farmers to make sure the production of high-quality food and help in making the agriculture Industry a little digitalized, as per the recent announcement made September 25. Call on Blockchain support phone number for help and support.
This agreement would bring the portfolio and digital-farming technologies of Monheim and Rhein, a Germany-based Bayer Crop Science, together and also, the blockchain division of Hangzhou, a Chinese-based Ant Financial. Though, no information has been revealed about the size of the deal or the structure of the relationship.
Blockchain technology will help in bringing transparency in Agriculture
Vice President and General Manager of Ant Financial’s Intelligent Technology Group, Geoff Jian said in the statement that in association with Bayer, exploring of blockchain in agriculture will help in bringing the more transparency and openness of its supply chain, also would help in bringing more value to consumers, farmers, and the society, as well.
Discovered in 2014, Ant Financial owns 33 per cent of ownership by Alibaba. The brand includes popular payment services of China – Alipay. The company has already made massive blockchain-related investments and announcements in recent years. It raised approx. $14 billion in 2018 to initiate and follow new technological developments that includes most of Blockchain , AI and IoT.
Ant Financial to create a blockchain system for charity stages
In September, Ant Financial talked about its interest in enhancing a blockchain system for charity platforms, to generate more transparency in the process and aiding Charities from avoiding expanding their fund-raising goals.
In May, the company made an investment of about $10 million series A round for QEDIT, a developer of privacy solutions for the blockchain. Also, in march month, two new Shanghai-based companies were incepted – Ant Blockchain Technology and Ant Doublechain Technology, both owned by Ant Financial .