China’s Bright Food Group is using blockchain for importing food products into the country. The company launched ‘The Smart Chain’ platform with a focus on broad integration. Here the “Chain” in Smart Chain refers to the supply chain as opposed to blockchain.
The platform incorporates different industries and food products, as well as a variety of functions such as finance and information management solutions to allow buyers and sellers a one-stop service for trade activities.
Bright Food Group, owned by the Shanghai municipal government, is the second-largest China-based food company and had revenues of $19 billion in 2014. It is leveraging blockchain to simplify its overseas procurement channels, integrate supply chains for better visibility of the business and record distribution data in China.
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