VeChain Unveils Food Tracing Solution Foodgates at China’s Import Expo
William Suberg's original article for cointelegraph.com reduced by 58%
Singapore-based blockchain application platform VeChain has unveiled a new blockchain tracking system for the food and beverage industry. VeChain "Direct beneficiary" of pro-blockchain stanceThe original announcement came at this year's China International Import Expo, being held from 5-10 Nov. in Shanghai.
"The immutability of public blockchain coupled with verifiable information makes this solution really unique," VeChain COO Kevin Feng commented. VeChain revealed Foodgates had already been put to work, importing French beef to China for an event attended by French president Emmanuel Macron and China's Xi Jinping, who also spoke at CIIE.China given a blockchain go aheadAs Cointelegraph reported, China recently unleashed huge official support of blockchain technology, with Xi himself urging its use in a speech in late October. Following Xi's words, local media began warning citizens about the legal implications of criticizing blockchain or calling the technology a scam.
"VeChain, being a global blockchain technology platform provider with significant resources in China and Europe will be a direct beneficiary of this bullish shift by the second largest economy in the world," the blog post added. Blockchain no magic bean for food industryBlockchain has made significant inroads into the food industry in recent years.
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