France and China are soon going to have smoother trade when it comes to food products and beverages, all thanks to the first blockchain solution between them titled “French Farms with Chinese Plates.” The unique global ecosystem is based on the technology of blockchain, which has been built by three leading companies, namely DNV GL, VeChain, and ASI Group.
As per the reports, this new and innovative blockchain system is aimed at Chinese customers to make it safer and easier for them to purchase best-quality F&B products from France, such as wine and meat. The reports reveal that an MoU had been signed by the involved partners on November 9, 2019.
The solution, powered by blockchain, will enable the consumers of China to have complete, relevant access to information regarding the food product or beverage, right from the product’s source and its quality to the duration of logistics processing, the product’s test reports, and security to name a few. The information would be available using the NFC identification system or just by scanning the product’s QR code.
The use of blockchain technology will make these crucial details more transparent and impossible to alter, eventually increasing the consumer’s trust. Furthermore, since the information will be on the public blockchain, it will be easier for anyone to retrieve it.
The solution is a win-win for both—the Chinese consumers and French Producers. While the former will have quicker access to superior quality French products at more competitive rates in a transparent supply chain, the latter will be able to expand its reach in China.
The roles of the partnering companies
In the collaboration, the Norwegian giant DNV GL will track the product offerings in a thoroughly transparent manner to ensure origin to destination traceability.
ASI Group is known for offering quality end-to-end solutions for supply chain, logistics, imports, as well as international trade solutions requiring complete adherence to all the local regulations. It also ensures safer delivery to consumers from farms when it comes to cold chain transports.
VeChain, on the other hand, is powering the solution with its public blockchain as well as technical support.
As per the reports, the solution is slated to be integrated into ASI Group’s B2B platform early next year.