VeChain to bring Blockchain technology into the $7.1 Billion Chinese tea industry. 2019 was the year that the Chinese government significantly changed its stance towards Blockchain and digital currencies, which fueled the already growing demand for blockchain-based platforms in the country.
Since then, many innovative alliances have been formed in the country as Blockchain technology is adopted across various industries. One such collaboration is has been established between VeChain, a leader in advanced Blockchain solutions for the supply chain industry and China’s 8th largest province, Anhui, a key region for its $7.1 billion tea industry. Keen observer of the Chinese markets, Dragon co-founder, Paul Moynan welcomes the move, commenting on the fact that VeChain’s focus on bringing Blockchain technology to the tea trade will play a significant factor in China’s efforts to alleviate poverty.
Previously, VeChain has worked with Walmart China to ensure that there is food safety, and right now, it is partnering with the Anhui tea industry, which was established back in 1998. The VeChain platform will help to offer the tea industry both efficiency and productivity in almost all stages of production as well as help to strengthen the domestic Chinese tea industry. Looking to keep yourself up to date with all that's happening in the Chinese Blockchain space? The Dragon Blog brings you the top news from the region as well as other great industry news and developments – why not head there right now?