VeChain can provide a blockchain solution for the traceability of products from giants such as McDonald’s and Walmart.
Both brands are part of the China Animal Health & Food Safety Alliance (CAFA) of which VeChain will become a member of the board.
CAFA is a governmental association directly led by the Ministry of Agriculture of China and currently has 130 members.
Its members include giants in the coop industry, including McDonald’s and Walmart, but also ecommerce platforms and food and beverage producers.
VeChain will have to offer them a tracking system that can reconstruct the history of a product from the farm to the table.
To do this, VeChain will use VeChain ToolChain. Thanks to this platform, members of the alliance will be able to record all processes related to a product in a safe and immutable way. The aim is to increase reliability and consumer confidence.
The tracking can include all processes from cultivation and packaging to logistics and delivery.
VeChain ToolChain operating not only for McDonald’s and Walmart
The VeChain Toolchain platform was launched in 2019 and stands out for its readiness to use and flexibility for companies that want to use it to record their production processes.
The pros are that it is scalable and affordable. This is why it has already been used by Walmart China. The use for tracking Yunnan Pu’er tea has also recently been announced.
Joining the China Animal Health & Food Safety Alliance will allow companies and their subsidiaries to use the blockchain platform without VeChain having to interact with each of them.
As explained by the VeChain Foundation:
“VeChain continues to promote exponential mass adoption of blockchain technology and drive tangible value for businesses. By powering traceability platforms for alliances such as CAFA and other similar partners, the VeChainThor blockchain would be used by hundreds and thousands of businesses without needing VeChain to approach them individually”.
With this entrance into a governmental association, China is demonstrating that it is paying attention to blockchain development. All this while testing what could be the first state digital currency issued in the world.
These factors confirm that the Asian country is definitely ahead in the implementation of new technologies.