The VeChainThor blockchain which is a product of the VeChain (VET) network is now implemented in producers and farmers markets in Latin America and the Caribbean. As we can see from the news, the collaboration will use VeChain’s blockchain technology in conjunction with the StoryBird application.
People following the VeChain news should know that Producers Market is a company operating in the United States which recently partnered with VeChain to use its technology and support the agricultural sector.
As a publication on Medium shows, this new collaboration will aim to track farmers’ products to improve their export competitiveness on the global markets. The view is to have a more comprehensive introduction in the future. However, the cooperation will initially focus on supporting farmers in Latin America and the Caribbean.
Farmers in the regions are badly affected by the COVID-19 pandemic, the latest news show. In that manner, the VeChainThor blockchain will optimize the agricultural and farming markets. By 2028, organizations in these industries expect the Latin America and Caribbean (LAC) region to account for 25% of the agricultural and fishery exports. This shows that the LAC region is one of particular importance for maintaining the global food supply chain.
The integration of the VeChainThor blockchain has a main objective of reducing the gap that has widened due to the current emergency situation between the producers and the consumers. In that manner, the blockchain news show that VeChainThor will be integrated into the value chain in order to “empower” farmers. Through the transparency application “StoryBird,” farmers will be able to establish a direct link to the markets and consumers via the VeChain (VET) network.
Driven by the VeChain ToolChain, this application will allow all actors in the food trade to validate the origin of products and give them access to traceability tools for deliveries. StoryBird will also allow producers, processors, packers and other actors to “publicly list organization and product profiles for access to global markets.”
The co-founder of VeChain Sunny Lu commented on the operation, saying:
“Positioned as the enabler for our partners, VeChain aims to provide a standardized tool for the enterprises to build and integrate blockchain technology into their business easily. Whether targeted to large organizations or small companies, or even individual business owners, VeChain ToolChain (VeChainThor blockchain) helps you realize your exact vision and scale your business with a reasonable cost.”
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