VeChain to Supply Blockchain Tech for Chinese Food Safety Group That Includes McDonald's
The VeChain Foundation has become the first blockchain-based entity to join the China Animal Health and Food Safety Alliance (CAFA) and will work with members to trace supply chains in the country.
Sep 18, 2020 at 9:14 a.m. UTCUpdated Aug 19, 2021 at 4:25 a.m. UTC
:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindeskuat/HHQOEOG3VBCFVDCPLJEGEZKMQQ.jpg)
The VeChain Foundation has become the first blockchain-based entity to join the China Animal Health and Food Safety Alliance (CAFA).
- According to a Thursday Medium blog post, VeChain joins the 130-strong member group as its only public blockchain technology provider, and will further provide technical and infrastructural support for member firms.
- CAFA is a government-backed organization that falls within the purview of the Ministry of Agriculture of the People’s Republic of China and includes of some of the world's most recognizable brands such as MacDonald's and IBM.
- According to the post, CAFA intends to build a "farm to table" traceability system across China that would record the various stages of the food supply process on the blockchain in order to build trust with consumers.
- China has suffered a number of scandals involving food safety – or lack of it – such as counterfeit baby milk and frying oil containing carcinogens.
- CAFA sets out to prevent such incidents from occurring, as well as to ensure animal health.
- VeChain will assist the alliance in the development of its platform by connecting member organizations within China's food supply chain and offering technical support.
- The firm hopes its ToolChain platform will be integrated by the companies into their existing business processes; one firm has already done so, per the blog post.
- VeChain has previously been working with Walmart China and PwC on a similar food tracking initiative, as well as with pharmaceutical giant Bayer China on a new blockchain-based traceability platform to track clinical drugs.
STORY CONTINUES BELOW
13:18
Bitcoin Mining in the U.S. Will Become 'a Lot More Decentralized': Core Scientific CEO
05:10
Binance to Discontinue Its Nigerian Naira Services After Government Scrutiny
04:07
The first video of the year 2024
40:07
The last regression video of the year 3.67.0
:format(webp)/downloads.coindesk.com/arc/failsafe/user/1x1.png)