Blockchain Platform to Track $2.5B Worth of Tea Products

The Chinese province of Yunnan announced the official launch of a blockchain-powered traceability platform for its Pu’er tea farms on June 3.

The blockchain platform was first announced in the 2020 Phoenix Nest Ancient Tree Spring Tea New Product Launch Conference in Kunming, Yunnan.  They will use the platform to conduct quality control, sales, and loan financing operations on 42,000 hectares of farmland across the province.

According to Chinanews, the province is famous for its dark, fermented variety of tea. It’s the major Chinese agricultural products exporter, and hit almost $33 million in 2018 according to reports.

Implementation of blockchain technology in a big industry

The Pu’er tea industry’s products yield a total of $2.5 billion on average, according to the report.

By scanning QR codes within the blockchain-powered platform, customers may be able to review information about each product’s raw material base, production process, warehousing, quality testing, product sales, and financial support, and other data.

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