Cryptocurrency

VeChain Announces Tripartite Team-up With ASI Group, DNV GL for Food and Beverage Industry

Serving the cryptocurrency arena with its stellar blockchain-based solutions curated for supply chain management and business processes, VeChain became an attendee at the China International Import Expo 2019 (CIIE). Organized between November 5 to November 10, the event was designed by the Chinese government with an aim to give a boost to practices focused on liberalization of trade and globalization of the economy.

The first CIIE organized by VeChain showed an array of blockchain solutions and proposals to business entities and government authorities. However, this year, VeChain made a crucial announcement. The firm, together with its strategic partner DNV GL, broke the news about its tripartite partnership with ASI Group during the press conference organized by the France China Committee on November 7, 2019. The new collaboration between the three firms will pave the way for the development of Foodgates, a world-class solution designed to cater to the requirements of the food and beverage industry. It will serve as the first cross-continental logistics and trades platform supported by the VeChainThor public blockchain network.

Foodgates will be the first-ever platform being operated on a public blockchain, which will give the complete verified and certified information about the lifecycle of the food products to the users.

Before the press conference, Emmanuel Macron, the honorable President of France, marked his presence at the opening ceremony of CIIE. As it was the 55th anniversary of China-France diplomatic relations, Mr. President shared his views on the probable efforts to enhance cooperation with China’s President, Xi Jinping.

Mathieu Borgé, the co-founder of Foodgates, ASI Group, stated that

We developed a blockchain-powered solution which connects the best of French products to Chinese buyers, aiming at bringing transparency and traceability to the French-Chinese B2B market.

Foodgates will allow the Chinese purchasers to invest their funds in high-quality French products. With the use of VeChain ToolChain, the buyers will enjoy an assurance about the quality, safety, and origin of the products. The solution will act as a bridge between Chinese buyers and French suppliers.

To make Foodgates a success, the experts from VeChain will give the necessary technical support through the VeChain ToolChain APIs. On the other hand, DNV GL will strive to ensure transparency and consistency of data on the VeChainThor public blockchain network.

The trio- ASI Group, DNV GL, and VeChain- organized a gourmet dinner on November 8, 2019, which was attended by more than 50 elite guests.

ASI Group lends support to aspiring businesses during their development stage to ensure growth and supply chain international development for the firms.

Having established itself as well-known risk management and quality assurance service provider, DNV GL is also a highly reputed platform for the certification of management systems of companies belonging to varied industries.

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Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.
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