- VeChain and partners launch the Yunnan Pu’er tea tracking blockchain platform
- The move will help tackle China’s multi-billion-dollar issue of counterfeit tea
- Traceability Platform to have an impact on the mass adoption of blockchain in the tea industry
On November 14. 2019, VeChain, together with Menku Rongshi, Yunlian, and Linova, announced the Yunnan Pu’er tea tracking platform powered by the VeChain ToolChain.
According to VeChain’s official tweet, the Yunnan Pu’er Tea Traceability blockchain platform has heeded the Chinese government’s call for blockchain adoption in the national scheme for traceability of high-value goods.
Heeding the call of the Chinese Central Government, VeChain, together with partners, announces the Yunnan Pu’er Tea Traceability Platform powered by VeChain ToolChain, which has been indexed in Chinese National Important Products Traceability System. https://t.co/FJPe0fwWxr
— VeChain Foundation (@vechainofficial) November 14, 2019
The announcement came during the Shuangjiang Conference, with attendees from the People’s Government of Lincang City, the Chinese Academy of Agricultural Sciences Tea Department, the Yunnan Tea Traceability Association, and many more.
Qian Chengcheng, CBO of VeChain, remarked:
“As the leading enterprise-friendly public blockchain platform, VeChain is committed to powering the real economy and releasing the untapped business value by reliable blockchain technology.”
The news comes as a major boost to China’s farming sector, as this use case can be used as a reference for other regional crops such as Yangcheng-Lake crab and Wuchang rice.
The platform will also help to tackle the long-existing and multi-billion-dollar problem of counterfeit tea brands.
Impressive Partnership Between Pu’er Tea, And VeChain
Pu’er tea is a class of fermented teas predominantly grown and processed in the province of Yunnan. The branded Pu’er tea is viewed as a luxury collectible consumable.
Being immensely popular and given the valuable nature of Pu’er tea in Chinese culture, safety, quality, and authenticity of the luxury product has become a significant cause of concern.
In fact, the governor of Yunnan Province, Mr. Ruan Chengfa, recently emphasized the need for “one-product-one-code” in anti-counterfeiting solutions of gushu tea.
Heeding the call of the Chinese government on product traceability, Vechain and its partners have decided to co-develop the Yunnan Pu’er Tea platform based on the BaaS platform VeChain ToolChain.
The blockchain-powered system will provide transparent and trustworthy tea trades benefiting both producers and consumers.
Through the public blockchain, the platform enables enterprises to monitor each section of production, lower the hindrance of supervision, and contain firm risk control.
For the customers purchasing high-end products, they will have access to authentic information to acknowledge the origin, safety, and processing of the tea.
Vechain’s Gaining Ground in China
Over the past few weeks, the price of VeChain has continued to gain an advantage after the decision by China’s government to list it as an officially crypto project in the country.
From relative lows at the end of October 2019, VET now sees a rise that exceeds 75% in performance, much better than other Chinese projects, such as NEO, TRON, and Binance.
Moreover, a Shanghai-based wine manufacturer recently partnered with VeChainThor to develop an authenticating system for luxury wines.