Alipay parent Ant Financial partners with Bayer for agricultural blockchain

Friday 27 September 2019 14:15 CET | News

Alipay operator Ant Financial has partnered with Bayer to sign a Letter of Intent to bring DLT traceability to food safety and agricultural supply chains.

Ant Financial also revealed that it is extending its partnership with Hyperledger, and the two will work on interoperability, standards, and blockchain applications. Ant’s blockchain as a service (BaaS) offering supports both its own Ant Blockchain and Hyperledger Fabric. The technology will now be brought to agriculture with German firm Bayer. Bayer is best known as a pharmaceutical company, but is also a big name in crops. It acquired US seeds and agrochemicals firm Monsanto in a $63 billion deal last year.

The company’s Crop Science division has a strong presence in China. It provides services to Chinese growers including advanced crop solutions, pesticides, environmental and safety training, digital farming technologies, and crop protection equipment.

Agribusiness is now one of over 40 applications of Ant’s blockchain technology. It has initiatives in supply chain finance, remittance, and rice traceability. Through Alipay, the company provides multiple blockchain services, mainly in health for online prescriptions and insurance.

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Keywords: Alipay, Ant Financial, Bayer, blockchain, supply chain finance, remittance, letter of intent, financing , food, agrigulture, DLT traceability, agricultural supply chain
Countries: World

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