The start of Chinese agriculture Wangjiahuan raised $ 58 million to use the blockchain for the food quality control platform.
The Chinese agricultural startup Wangjiahuan has closed a series of loans $ 58 million (RMB400 million)
led by Global Logistic Properties, a logistics solutions provider based in Singapore to develop a platform to control the blockchain-enabled food quality, said Deal Street Asia.
In addition, Wangjiahuan will use the funds to build a large data cloud platform that will analyze and gather information to advance the logistics and cultivate the company's activities across China, creating warehouse centers using DLP (distributed ledger technology). technology).
"Investment in Wangjiahuan is an important investment for GLP as it helps us to integrate our food resources and also our logistics portfolio companies to help upgrade and complete the industry foodservice ", the head of GLP investment and president of Hidden Hill Dong Fanghao
The $ 1.46 billion Hidden Hill Modern Logistics Private Equity Fund has invested funds for GLP, which was set up in May to invest in logistics.
Wangjiahuan is a food distributor founded in 1995 by government agencies and The company has six main sections consisting of warehouse centers, central kitchen, basic management, group catering service, logistics and distribution and e- commerce.
Only recently has the company obtained general distribution rights for over 200 brands of food products around the world. China in addition to over 200,000 hectares of high quality plantations across the country.
Biological Agriculture in the Philippines
A similar block The chain initiative is currently under way in the South Philippines with local officials and a charitable foundation for blockchain that stipulates an agreement to transform the agricultural lands of the region in organic production by 2020 through the use of the DLT.
Zamboanga of the Norte Congressman Seth Frederick "Bullet" Jalosjos said that the Organic Osmena 2020 project would make Mindanao the first region in the country to be fueled by cryptocurrency.
"We are very hungry and very thirsty for something like this to come out of the most neglected islands in the Philippines, which will be a turning point in our country," Jalosjos told Cryptovest in an interview
. In Australia, the federal government has allocated $ 1.6 million ($ 2.2 million) to make its sugar production more competitive using blockchain technology. Australian Prime Minister Malcolm Turnbull is supporting the Sustainable Sugar project, which targets Queensland, the country's largest sugar export region.