The German Bayer Crop Science (a division of Bayer) and the Chinese Ant Financial (part of the Alibaba Group) signed a protocol of intent to develop a blockchain platform for monitoring agricultural products. It is assumed that the new system will improve the efficiency and quality of food production, increase farmers' incomes and help digitalize agriculture as a whole. There is no information on the size of the transaction or the structure of relations.
“Together with Bayer, our research on blockchain in agriculture will increase the transparency and responsiveness of supply chains and bring greater value to consumers, farmers and society,” said Geoff Jiang, head of Intelligent Technology at Ant Financial.
Founded in 2014 in Hangzhou (Zhejiang Province, China), Ant Financial has made a number of investments in blockchain technology in recent years, and last year the company managed to raise $ 14 billion to develop new technologies in the field of blockchain, artificial intelligence and the Internet. of things. 33% of its shares are owned by the Chinese giant Alibaba Group.
Bayer Crop Science, which acquired Monsanto in 2018, also boasts active participation in blockchain projects. So, this year the company made a deal with BlockApps, a subsidiary of the American ConsenSys.
A source: https://www.fertilizerdaily.ru/