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Alipay and its parent company Ant Financial announced a partnership with local Chinese authorities for the use of blockchain to ensure the authenticity of rice, local media report August 28th.
An important player in the Chinese market, Alipay boasted 400 million users in August 2017. The company is owned by Alibaba, a subsidiary of Ant Financial.
According to the Global Times, the agreement with the municipal government of Wuchang in Heilongjiang Province aims to stop the counterfeit versions of the well-known Wuchang rice that introduces it to the market.
"This is the first time Wuchang Rice has changed the long-distance distribution method for the whole country, shortening the original delivery time of 3-7 days to less than 2 days", the publication adds the advantages of the blockchain introduction:
"Information such as the warehouse, delivery and trucking of warehouse and distribution links are also visible to consumers in real time."
The move arrives ek after China has increased the ban on cryptocurrency with further blockages on trade and exchange of information on the sector.
In contrast, blockchain continues to capture the imagination of Beijing, with various collaborations and integrations under way in the public and private sectors.
Alipay has also taken a tough stance on users who trade cryptocurrency using their own accounts, Cointelegraph reported during the weekend, while in June, Ant Financial initiated a blockchain remittance project with the Philippines.
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