On June 3, the Chinese province of Yunnan announced the official launch of a technology-driven blockchain platform for monitoring Pu’er tea plantations. This platform was the first time foretold during the conference “2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch” in Kunming. Yunnan will use blockchain technology to manage quality control, sales and financing loans for 42,000 hectares of arable land throughout China’s province.
Implementing blockchain technology in a large industry
According to Chinanews, this province is known for its dark, fermented tea variety. According to the report, Pu’er’s tea industry products generate an average of $ 2.5 billion in profits per year.
By scanning QR codes as part of the Blockchain platform, customers will be able to view product information. The available data will include information on the raw material base of each product, production process, storage, quality testing, product sales and financial support.
The beginnings of the tea industry’s interest in blockchain technology date back to 2019. At that time, the province wanted to integrate block-based identification solutions. In March 2020, a pilot program was created called “Quality blockchain traceability platform”.
So far 25 products, 25 companies have been “successfully launched” on the market via the platform. The province hopes to integrate new technologies in the future. These include texture image recognition technology, anti-counterfeiting technology, and solutions that use NFC encryption chips.
Blockchain is gaining more and more popularity in China
Adoption of blockchain technology in China has recently started to develop very rapidly.
On May 14, the People’s Bank of China introduced a blockchain-based financial platform created for the Macao Bay region, Hong Kong and Guandong. The platform’s proposal states that it will help participating banks securely share information on cross-border traders through a reliable source.
At the end of May, we wrote about the cooperation of the e-commerce giant Alibaba with the largest port operator in China. The platform created by these entities will allow buyers, sellers, logistics companies, banks, customs and tax officials to make contactless export and import digital transactions. The goal is to create the first blockchain-based digital port in the world.