VeChain’s Enterprise Public Blockchain for Premium Olive Oils
VeChain ‘s Enterprise Public Blockchain is helping a growing brand deliver the highest quality extra virgin premium olive oils to health-conscious Chinese consumers.
With rising living standards and increasing education about food quality and health, Chinese consumers are increasingly willing to pay a premium for high-quality food. Unwanted and unnatural ingredients are being shunned, and consumers are instead actively seeking organic, environmentally friendly and ethically produced foods.
Olive oil is one such commodity that is experiencing an explosion in demand in the Chinese market thanks to its many known health benefits. The International Olive Oil Council estimates that olive oil consumption in China will reach 66,000 tons per year between 2020 and 21 years.
VeChainThor brings high quality food to market
An emerging brand, Olive Times, is capitalizing on this fast-growing market. Based in Gansu province, the most renowned olive-growing region in China, the company has launched Special-Olive, a particularly high-quality extra virgin olive oil. To ensure the authenticity of the product’s origin and freshness, and to gain the trust of local consumers, Olive Times is now working closely with VeChain to implement traceability for the entire Special-Olive product line using VeChain’s Blockchain-as-a-Service (BaaS) platform.
VeChain’s combination of blockchain and data quality services will enable the brand to confidently upload data at key stages of production, including pressing and extraction, quality certification and acidity data to the public blockchain VeChainThor.
The company’s CEO commented:
VeChain’s technology enhances our reputation as a niche brand by allowing us to communicate with consumers via a QR code or NFC tag. With VeChain’s flexible and cost-effective technology, everything about our product can be communicated unaltered, providing loyal customers and consumers with a trusted, real-time insight into our operations.
VeChain: Besides olive oil, pet food is also in demand in China
On 14.08.2021, VeChain developers from China announced a new market strategy. The network intends to develop blockchain-based traceability systems for animal feed.
No standards in the one billion dollar industry result in food quality not being proven and counterfeits being issued. VeChain might have a solution for this. Therefore, a protocol is being created that will allow manufacturers of animal feed to set such standards.
Three criteria are to be specified:
- Proof of origin
- Proof of ingredients
- Counterfeit-proof mapping of the value chain
The Chinese government is about to tighten the requirements for animal feed and VeChain is about to present a suitable solution.