Bayer Crop Science signed a Letter of Intent with Ant Financial (formerly known as Alipay) on 25 September 2019 to develop a trackable agri product monitoring & service system empowered by digital technology, which will boost agriculture production efficiency, enhance farmer’s income & provide quality as well as safe food to customers, assisting agriculture industry on the transformation in the new age.
The joint venture will combine Bayer Crop Science’s advanced portfolio, industrial chain resources, global leading digital farming planting & agronomic technology with Ant Financial’s industry-leading blockchain, advanced marketing, logistic & financing resource that can jointly create blockchain & value chain via the digitization of production & logistic process.
Weidong Huang, Bayer Crop Science Country Head of Greater China said, “Entering into the agri strategic cooperation with Ant Financial makes Bayer the 1st agricultural company to combine the construction of agricultural blockchain & value chain”. He said, “By working side by side, we strive to help agriculture industry on the transformation in the new age, improve the application of advanced agricultural technologies, boost agriculture production efficiency, enhance farmer’s income & protect food safety. With deepening the development of partnership, we look forward to work with more associates and consumers to form a new value chain of agricultural products market”.
Vice president & General Manager of Intelligent Technology Group of Ant Financial Geoff Jiang said, "We are excited to join hands with Bayer Crop Science to explore application of blockchain technology in farming. Agriculture is the foundation of human civilization and together with Bayer our exploration of blockchain in the field will improve the transparency & responsiveness of its supply chain & bring more value to customers, farmers & society."
The collaboration between Bayer & Ant Financial in China could set an example for the world in unlocking the potential of blockchain & value chain for farming sector as a new technology, new application & new ecosystem.
