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Ant Financial, Bayer Join Hands to Develop Blockchain for Farm Produces

Ant Financial Blockchain

Ant Financial, an online payment services provider, has joined hands with Bayer Crop Science to develop a blockchain resolution for their agriculture business.

A report on 21 September by Cointelegraph said the company would launch a platform with Blockchain as a Provider (BaaS) in an effort to provide assistance to its personal platform and its partner’s businesses.

A platform for transparency and traceability

A consultant of Ant Monetary said the purpose of the partnership is to create a blockchain-based solution to enable the transparency to meals security and traceability of farm produce procurement chains.

On 26 September, Ant Financial announced the partnership. It said both companies have already signed the letter of intent.

More partnerships to come

Crypto and blockchain-focused media “Coin24x7” reported that agriculture is now one of the over 40 programs under Ant Financial’s blockchain generation initiative.

Ant Financial also has other projects that provide chain finance and rice traceability. It is reported that Ant Financial also intends to strengthen its partnership with Hyperledger in terms of interoperability, requirements and blockchain program.

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