ant financial bayer agriculture blockchain
Alipay’s Ant Financial Partners with Bayer for Agricultural Blockchain
October 8, 2019
ant financial bayer agriculture blockchain
Alipay’s Ant Financial Partners with Bayer for Agricultural Blockchain
October 8, 2019

Ant Financial, operator of Alipay partners with pharmaceutical giant Bayer Crop Science Monsanto’s owner, to develop a blockchain solution for the food and crop industry.

Letter of Intent

On Sept. 26, Ledger Insights reported that the two companies signed a letter of intent to develop transparency and traceability. As per the report, the joint initiative was announced at the Apsara Conference in Hangzhou, China.

Ant Financial too reported that it ‘intends to extend its partnership with Hyperledger to work on interoperability, standards and blockchain applications.’

‘According to the report’s author, the firm’s Blockchain as a Service (BaaS) offering supports both its own platform and Hyperledger’s Fabric.’

Blockchain to Improve Agricultural sector

Last year, Bayer acquired US-based agrochemical company Monsanto for $63 million.

Bayer, while being best known as a pharmaceutical giant, also acquired United States-based agrochemical company Monsanto for $63 million last year. An Ant Financial representative commented:

“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 firm also has initiatives in supply chain finance and rice traceability among others.

ALSO READ :  Digital Asset’s DAML To Connect Diverse Blockchains On A National DLT Project In China


Source: Cointelegraph| Image: bitcoinexchangeguide.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!