DropChain Blockchain Startup Partners with China’s STATA Accelerator

DropChain And STATA: Transparency And Quality Ensured Through Blockchain

The ubiquitous nature of blockchain technology is gradually coming into full realization. This is evidenced by the sheer amount of partnerships that have been formed with blockchain at the base of it.

One of such partnerships was recently unveiled. A startup company, DropChain who are in the business of ensuring transparency and quality-assurance in the global food and beverage supply industry have announced a groundbreaking partnership with Sanya Travel Attraction Technology Accelerator (STATA). STATA on its part is a well renowned platform. Backed by the Sanya Municipal People's Government, it is saddled with the task of creating synergy between tech platforms and start-ups all over the world.

STATA aims to ensure that through these partnerships, development and Returns on Investment are exponentially delivered in China's Hainan province.

This newly announced partnership aims to foster a close working relationship between DropChain and STATA, thereby increasing DropChain's portfolio in Hainan.

STATA in its attempt to increase DropChain's portfolio in the Hainan province will ensure the following:

  • Pave the way such that local business partners and the government have better and more streamlined partnerships. This will further help DropChain in its attempt to corner the right areas in the said local markets.
  • By opening up their advisory services to DropChain, they will further assist them in following and consistently observing the correct protocols with regard to business registration, trademark and compliance.

This all comes in lieu of China's plan to implement the country's biggest Free Trade Zone in the Hainan province. In April of this year, China's central authority unveiled plans that would drastically improve the economic status of Hainan Island. These plans are geared towards transforming Hainan Island into a pilot international trade-free zone and free-trade port by 2025.

This proposed facelift is expected to achieve the following:

  • Bring about a general increase in government investment in sectors which include but are not limited to tourism, IT research and development, commercial trade industries for logistics, Blockchain deployment, etc.
  • Ensure that quality assurance is a given for foods entering Hainan Island, this is essential in ensuring Hainan's continuous rise as a tourist destination.

Joey Zhou, Founder and CEO of STATA had this to say on the recent partnership

“We are building an ecosystem that facilitates and encourages innovation and entrepreneurship, cultivating talents from around the world to lead the next wave of digital transformation. By providing industry and market entry support, along with access to capital and government resources, our enterprise partners can realize quicker penetration into Chinese markets from Hainan.”

On the other side of the divide, CEO of DropChain, Billy Chan, had this to say

“The reality is that there are bad actors globally who are relentlessly compromising the integrity of products with dangerous counterfeits, many of which are harmful to public health. We are privileged to be working alongside local government entities and STATA, playing a part in navigating the transition to blockchain technology, where supply chains can discover greater transparency and traceability.”

Conclusively, this partnership is sure to have a full scale effect on ensuring that the transparency and quality of global food and beverage supply chains are never compromised again.

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