Bayer Crop Science has signed a Letter of Intent with Ant Blockchain to develop a trackable agricultural product monitoring and service system empowered by digital technology that will increase agriculture production efficiency, improve farmer’s income, and provide quality and safe food to consumers, assisting agriculture industry in transformation for the new era.
The partnership will combine Bayer Crop Science’s cutting-edge portfolio, industrial chain resources, global leading digital farming planting and agronomic technology with Ant Financial’s industry-leading blockchain, advanced marketing, logistic and financing resource, which can jointly form blockchain and value chain through the digitization of production and logistic process.
“Entering into the agricultural strategic cooperation with Ant Financial makes Bayer the first agricultural company to combine the construction of agricultural blockchain and value chain.” Said Weidong Huang, Bayer Crop Science Country Head of Greater China at the signing ceremony. “By working side by side, we strive to assist agriculture industry on the transformation in the new era, enhance the application of advanced agricultural technologies, increase agriculture production efficiency, improve farmer’s income, and protect food safety. While deepening the development of the partnership, we look forward to working with more partners and consumers to form a new value chain of agricultural products market.
"We are excited to join hands with Bayer Crop Science to explore the application of blockchain technology in agriculture," said Geoff Jiang, the vice president and General Manager of Intelligent Technology Group of Ant Financial. "Agriculture is the foundation of human civilization. Together with Bayer, our exploration of blockchain in agriculture will improve the transparency and responsiveness of its supply chain, and bring more value to consumers, farmers and the society."
Bayer Crop Science, as one of Bayer’s three business divisions, adheres to the group's mission of "Science for A Better Life" and provides comprehensive solutions from seeds and traits, crop protection to digital farming technologies and services. In China, Bayer is dedicating to introducing advanced solutions and providing Chinese growers with scientific guidance of seeds, pesticide and pesticide safe use and environmental protection including planting skills and management; disease, pest and weed management to enhance crop health; crop protection application equipment to reduce waste and protect environment.
The coorperation between Bayer and Ant Financial in China may serve as an example for the world in unlocking the potential of blockchain and value chain for agriculture sector as a new technology, new application and new ecosystem.