Ant Financial, Bayer Crop Science explore blockchain in agriculture

Alibaba Group affiliate company Ant Financial has inked a letter of intent with with pharmaceutical giant Bayer Crop Science to develop blockchain-based solutions that improve food safety and the efficiency of agricultural supply chains.

The two companies have launched a pilot in Dangshan, Anhui Province, China, involving pear farmers from Bayer’s demonstration areas. They say that the farmers have been able to “provide reliable high-quality products which are sold on Alibaba’s e-commerce platform and more money”.

Geoff Jiang, Vice President and General Manager of Intelligent Technology Group at Ant Financial, comments: "Agriculture is the foundation of human civilisation. Together with Bayer, our exploration of blockchain in agriculture will improve the transparency and responsiveness of its supply chain, and bring more value to consumers, farmers and society."

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