Series A round of funding organized by Global Logistic Properties, a Singapore-based logistics solution provider, has recently developed a blockchain related food quality control platform.
With the help of distributed ledger technology (DLT), Wangjiahuan will check the company’s operations in all-over China by starting its own warehouse centers. Wangjiahuan will give an extensive quality assurance and then process and distribute agriculture products to the country.
According to GLP chief investment officer and Hidden Hill chairman, Dong Fanghao, this investment to Wangjiahuan is a significant investment for GLP as it will help the country to add resources of food and it will also help to increase the number of the foodservice industries.
Wangjiahuan is a food distributor founded in 1995 for government agencies and institutions. The company has 6 major sections such as warehouse centers, central kitchen, base management, group meal service, logistics and distribution, and e-commerce.
Recently, the company decided to give overall distribution rights for more than 300 food brands across China from more than 300,000 acres of high-quality plantations for all-over the country.
Blockchain Initiative In Philippines And Australia
A similar blockchain project is also happening in the Philippines with blockchain-enabled charity foundation and local official approving to change major agricultural lands in the southern parts of the country into biological production by using DLT by 2020.
The federal government of Australia also allocated some funds to allow its sugar production to become more competitive by using blockchain technology. It has kept around $2.1 million to see the success. Malcolm Turnbull, Australia’s Prime Minister, fully supports the maintainable sugar project. He is completely aiming at improving the primary sugar production region of Queensland.
As per the report revealed in Cryptovest, the main purpose of taking this huge step is to get out of the old-fashioned trade methodologies and that agriculturists must start utilizing digital technology to get what they value, which will further boost a healthy farming sector.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]