VeChain Partners With Chinese Food Distributor for Blockchain-Based Traceability

VeChain [VET]

VeChain, “the world’s leading blockchain application platform driven by enterprise adoption,” has partnered with Shenzhen Yuhongtai Foods Co. Ltd. to power a new platform provided by the group. This platform is called the Food Traceability Platform, which will track their pork products, among other things, provided by their subsidiary, Meijiada Fresh Foods.

According to a blog post, Meijiada Fresh Foods is:

“A¬†chain of stores based in Shenzhen which specializes in the fresh meat and vegetable market. With a population of more than 12.53 million and a GDP per capita of more than $29,217, Shenzhen is widely regarded as the most advanced technological hub of China, and one of the frontline cities of the blockchain industry.”

The company prides itself on provided fresh foods and services to its customers, though it’s struggling to prove this, the post notes. This is where the Food Traceability Platform comes in.

This blockchain-based platform will ensure that Meijiada can:

“Upload key supply chain data of their products such as origin, processing flow, logistics information, date of packaging, as well as marketing information and more to the VeChainThor blockchain.”

Like many supply chain platforms, this will be done via a QR code placed on each product, which anyone can scan and see more information on with their mobile smartphone.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.

      Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.