Operator Alipay Ant Financial has announced a partnership with giant Bayer Crop Science to develop blockchain solutions in agriculture. Ledger Insights reported on the partnership on September 26, also noting that the two companies have signed a letter of intent to develop their solution to increase traceability and transparency. The initiative was announced at the Apsara Conference held this week in Hangzhou, China.
“The goal of the partnership is to create complete blockchain-based solutions designed to bring greater transparency to improve food security and the efficiency of agricultural supply chains,”
explained the spokesperson for Ant Financial.
Ant Financial is planning the expansion
Bayer is a company with multiple branches, from the production of medicines to the owner Monsanto, specialized in agro-chemical products. Bayer acquired Monsanto last year for $ 63 million.
Ant Financial also said it intends to expand its partnership with Hyperledger to work on interoperability, standards and blockchain applications. The Blockchain as a Service (BaaS) service developed by Ant provides support for both its own platform and Hyperledger Fabric.
According to the report, agriculture “is now one of the more than 40 applications of Ant blockchain technology”, and the company also has initiatives in the field of financing the supply chain and the traceability of rice, among others.