The Chinese province of Yunnan announced the official launch of a blockchain-powered traceability platform for its Pu'er tea parks on June 3.
The blockchain platform was first announced at the 2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch Conference in Kunming, Yunnan. They will use the platform to do quality control, sales, and loan financing on 42,000 acres of agricultural land in the province.
According to Chinanews, the province is famous for its dark, fermented variety of tea. It is the largest exporter of Chinese agricultural products, hitting almost $ 33 million in 2018, according to reports.
Implementation of blockchain technology in a large industry
The products of the Pu'er tea sector average an average of $ 2.5 billion, according to the report.
By scanning QR codes in a blockchain-powered platform, customers can control information on the raw material base, production process, warehousing, quality of testing, product sales, and financial support and other data.
The origin of & # 39; interest in & # 39; The Pu'er tea in Blockchain dates from 2019. The province wanted to integrate traceability solutions based on blockchain technology. They built a pilot program in March 2020 called "Quality blockchain traceability platform."
To date, 25 products from 25 companies have been "successfully launched" through the platform, and the province hopes to integrate new technologies in the future. These include texture recognition technology, anti-counterfeiting technology, and NFC coding chip solutions.
Blockchain continues to gain popularity throughout China
China's love affair with blockchain technology has been increasing in recent months.
On May 14, The People & # 39; s Bank of China proposed a blockchain-based trade finance platform for the Guangdong-Hong Kong-Macao Greater Bay Area. The emphasis would be on global trade and finance.
Cointelegraph reported on June 1 that Chinese authorities intend to turn Hainan province of the south into a free trade through the implementation of a blockchain-based platform.