Leading Chinese Tea Producer Adopts VeChain (VET) for Supply Chain Management
During the Shuangjiang Conference that was held on November 13, 2019, Singapore-based blockchain application platform VeChain, in partnership with Menku Rongshi, Yunlian, and Linova, announced the Yunnan Pu’er tea tracking platform powered by the VeChain ToolChain. VeChain revealed on its official Twitter account and claimed the innovation has been indexed in the Chinese National Important Products Traceability System.
Yunnan Pu’er Tea on the VeChain (VET) Blockchain
The Conference, which was successfully held by the People’s Government of Shuangjiang County, had government officials in attendance from the People’s Government of Lincang City, Chinese Academy of Agricultural Sciences Tea Department, Yunnan Tea Traceability Association and many more.
During the event, Qian Chengcheng, CBO of VeChain, was quoted saying:
“As the leading enterprise-friendly public blockchain platform, VeChain is committed to powering the real economy and releasing the untapped business value by reliable blockchain technology. The Yunnan Pu’er Tea Traceability Platform has a meaningful impact on the mass adoption of blockchain in the tea industry within Yunnan Province and across the domestic market. In addition, this use case can be used as a reference for other regional premium agricultural products such as Yangcheng-Lake crab and Wuchang rice.”
The representative from the Department of Commerce of Yunnan Province, Mr. Lu Xiutian also offered a speech, urging that great significance should be attached to the blockchain-based tea traceability platform which he believes would foster transparency and boost the reputation of Yunnan tea.
“Yunnan Province has been devoted in building a coordinating food traceability system. Therefore, we should attach great significance to this tea traceability platform, sparing no efforts to ensure every tea brick has a traceable origin, verified proper distribution and logistics, and authentic qualification, which can certainly raise the reputation of Yunnan tea globally.”
VeChain Blazing the Trail
Since it was launched in 2015, VeChain has been moving on the upward trajectory as it continues its aim of connecting blockchain technology to the real world by rendering a comprehensive governance structure, a robust economic model, and IoT integration.
BTCManager reported on November 14, 2019, that the Singapore-based blockchain application platform was directly mentioned in a Chinese newspaper, People’s Daily, only a couple of days after Chinese President, Xi Jinping gave an iconic speech appreciating blockchain technology.
According to a report on November 6, VeChain is one of the best performing cryptocurrencies in the world as of late, after gaining a market capitalization value of over $278 million.