Yesterday, Alipay operator Ant Financial partnered with Bayer Crop Science for blockchain solutions in the food and crops industry. The leading firms signed a Letter of Intent to bring the technology’s transparency and traceability to food safety and agricultural supply chains.

The news was announced at this week’s Apsara Conference in Hangzhou, China. Today, Ant Financial also revealed that it is extending its partnership with Hyperledger, and the two will work on interoperability, standards, and blockchain applications.

Ant’s blockchain as a service (BaaS) offering supports both its own Ant Blockchain and Hyperledger Fabric. The technology will now be brought to agriculture with German firm Bayer. Bayer is best known as one of the world’s largest pharmaceutical companies but is also a big name in crops. It acquired US seeds and agrochemicals firm Monsanto in a $63 billion deal last year.

With blockchain, the partnership hopes to “create comprehensive, blockchain-based solutions designed to bring greater transparency to improve food safety and the efficiency of agricultural supply chains,” a representative told Ledger Insights.

Agribusiness is now one of over 40 applications of Ant’s blockchain technology. It has initiatives in supply chain finance, remittance, and rice traceability. Through Alipay, the firm provides multiple blockchain services, mainly in health for online prescriptions and insurance.

According to Geoff Jiang, the VP and GM of the firm’s Intelligent Technology Group, its blockchain platform “has the capacity to support 1 billion accounts and a daily transaction volume of 1 billion.”

On Tuesday, Ant Financial won a ‘Digital Trust and Stewardship’ award from IDC for its collaborative blockchain project with MYbank. Jiang thinks that this is another sign of the firm’s growth, and predicts that “within the next year, there will be a number of blockchain applications with 10 million daily active users.”




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Alipay Parent Ant Financial Partners With Bayer For Agricultural Blockchain
Alipay Parent Ant Financial Partners With Bayer For Agricultural Blockchain
Alipay Parent Ant Financial Partners With Bayer For Agricultural Blockchain
Alipay Parent Ant Financial Partners With Bayer For Agricultural Blockchain

Alipay Parent Ant Financial Partners With Bayer For Agricultural Blockchain

Alipay Parent Ant Financial Partners With Bayer For Agricultural Blockchain