VeChain Joins China Animal Health and Food Safety Alliance (CAFA)
VeChain has joined the China Animal Health and Food Safety Alliance (CAFA) as one of its council members and will be providing them technical and infrastructural support.
The enterprise friendly public blockchain platform, VeChain will help in “building a from-farm-to-table traceability system across the entire country.”
Established in 2009, CAFA, a government-backed organization that comes under the Chinese National Agricultural Science Technology Innovation Alliance, already has over 130 members that aim to build a platform that connects the government, producers, research institutes, and food industry associations.
Launched in 2015, VeChain has been working with several enterprises including Walmart China, BMW, BYD Auto, Haier, H&M, LVMH, D.I.G, ENN, AWS, PICC, and ASI, providing a governance structure and IoT integration.
Here, through VeChain ToolChain, all the members of the alliance will be able to log key processes of food products on blockchain in an immutable and secure manner.
VeChain launched ToolChain in 2019, a “scalable and easy-to-implement technology” that allows business owners to integrate the public blockchain VeChainThor into existing business processes.
VeChain ToolChain has also collaborated with Walmart China Food Traceability Platform and Foodgates through its built-in and ready-to-use customizable tools to enable foot enterprises to quickly achieve the “full lifecycle traceability for their supply chains” at a controllable cost.
In line with CAFA’s vision to provide “consumers with safe, high-quality and healthy food of animal origin,” traceability can start from cultivation covering processing, packaging, logistics, retail, and more. The official announcement states,
“Positioned as the enabler for the real economy, VeChain continues to promote exponential mass adoption of blockchain technology and drive tangible value for businesses.”
In response to this partnership, the 25th largest crypto by market cap of $890 million, VET jumped over 16% in value to $0.014. According to one trader, if the digital asset makes a HL, VET can see another 25% uptrend.