The Chinese province of Yunnan announced the official launch of a blockchain-powered traceability platform for its Pu’er tea farms on June 3. The blockchain platform was first announced in the 2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch Conference in Kunming, Yunnan. They will use the platform to conduct quality control, sales, and loan financing operations on 42,000 hectares of farmland across the province. According to Chinanews, the province is famous for its dark, fermented variety of tea. It’s the major Chinese agricultural products exporter, and hit almost $33 million in 2018 according to reports. Implementation of blockchain …
China’s biggest port operator, China Merchants Port, reached a deal on May 28 with the e-commerce giant, Alibaba Group, and its affiliate, Ant Financial. This deal will allow for the development of a blockchain-based platform, which will target a number of different use cases. According to local media, the platform will allow buyers, sellers, logistic companies, banks, customs, and tax officials to conduct contactless digital export and import transactions. The companies will promote an in-depth integration of blockchain technology in the port industry. Their goal is to become the world’s first blockchain-based digital port with an open collaboration network. Implementing …
The ongoing coronavirus pandemic is transforming blockchain companies, and its impact is not always negative for the blockchain industry. Amid the latest coronavirus crisis-fueled changes, China is taking another step toward blockchain adoption to officially recognize industry jobs. China’s Ministry of Human Resources and Social Security, or MOHRSS, is the ministry responsible for national labor policies and regulations. Recently, they have added blockchain-related jobs to a list of officially recognized jobs. New occupation types are officially introduced to promote employment amid COVID-19 According to a May 11 statement by the MOHRSS, blockchain-focused professions, like tech developers, engineers, and analysts, are …
Multinational mining titan BHP Group expects to complete its first blockchain iron ore transaction with China’s Baowu Steel Group’s listed arm, Baosteel, in the near future. BHP’s announcement on May 12, as reported by Reuters, followed a yuan-denominated sale of iron ore to Baosteel worth $14.10 million (100 million yuan) last month. The move toward blockchain digitization of iron ore sales and the choice of renminbi settlement are both being hailed as major innovations in global trade. Baowu, now the world’s largest steel producer, has reportedly issued its own statement on a series of recent yuan-denominated deals with BHP and …
Recently, a blockchain-backed cross border platform pilot was implemented in the Chinese city of Qingdao. The companies involved have now made their first trades with partners in North America and Southern Asia. As reported on April 22 by local newspaper, Sina, the companies are praising the pilot program, and claim that the city’s banks will continue to improve the service. Trades made with other countries via blockchain About 37 Qingdao businesses have done business with foreign enterprises through the blockchain platform, located in the United States, Mexico, India, and a number of other countries. Sina reported that the pilot platform …