The VeChain Foundation has reportedly partnered with the General Council of Anhui Tea Industry Association, which represents China’s Yuexi County.
The new partnership announced Tuesday was reportedly signed during the Forum of Poverty Alleviation in Yuexi County and will see the Industry Association adopt VeChainThor Blockchain technology to boost the growth of the tea industry across the Chinese province in the coming years.
Notably, VeChain Project Director Tian Xinli had seized the forum as an opportunity to educate attendees, including government officials and industry experts, on the several ways that the VeChainThor Blockchain can be used to power the tea industry.
The General Council of Anhui Tea Industry Association thus agreed at the forum that partnering with VeChain will bring in the desired results for Anhui, which is reportedly the 8th largest province in China with over 62 million residents.
Among other things, utilizing VeChain’s technology is expected to allow tea producers and stakeholders to gain from increased efficiency and productivity in all stages of production in the supply chain.
VeChain’s solution will also aid traceability efforts, thus improving the domestic and international presence of the Chinese tea industry, as the VeChainThor Blockchain can potentially be deployed at scale for up to all of the 670 enterprises and 194 business owners.
Interestingly, news about VeChain’s adoption in the Chinese Province comes at a hard time for the project, which lost 1.1 billion (VET) tokens to a hacker last week. One might argue that adoption at difficult times shows public faith in the VeChain project and its potential to survive in the long-term.
Exclusive Offer: Signup on Bybit before Oct 31 and get a $60 bonus on your first 0.1 BTC/1000 USDT deposit to trade crypto.