The platform was launched on Nov. 13. disclosing that VeChain partnered with the leading tea producers to implement the traceability platform.
The entire tea manufacturing process will now be recorded on the VeChainThor blockchain, starting from the raw materials to the consumers. Customers will be able to access by scanning a QR code or NFC tag with their smartphone.
The Pu’er Tea Traceability Platform is one of the first third-party platforms to index into the National Important Products Traceability System, put in place by the Chinese Central Government.
A local Department of Commerce representative said:
“We should attach great significance to this tea traceability platform, sparing no efforts to ensure every tea brick has traceable origin, verified proper distribution and logistics, and authentic qualification, which can certainly raise the reputation of Yunnan tea globally.”
Rise of VeChain
VeChain (VET) pumped over 60 in the last 30 days. The official endorsement gave the token a gain of over 15%. However, founder Sunny Lu claimed that 99% of a token’s price is pure speculation, and not based on its value to society.
Chinese businesses seem to be falling over themselves to announce blockchain initiatives, following President Xi Jinping’s call to accelerate blockchain adoption last month.
Recently, State Administration of Foreign Exchange (SAFE), the Chinese regulator expanded its blockchain cross-border financing pilot program.
Source: NewsLOGICAL | Image: China Discovery