Alipay parent Ant Financial partners with Bayer for agricultural blockchain

Alipay operator Ant Financial has partnered with Bayer to sign a Letter of Intent to bring DLT traceability to food safety and agricultural supply chains.

Ant Financial also revealed that it is extending its partnership with Hyperledger, and the two will work on interoperability, standards, and blockchain applications. Ant’s blockchain as a service (BaaS) offering supports both its own Ant Blockchain and Hyperledger Fabric. The technology will now be brought to agriculture with German firm Bayer. Bayer is best known as a pharmaceutical company, but is also a big name in crops. It acquired US seeds and agrochemicals firm Monsanto in a $63 billion deal last year.

The company’s Crop Science division has a strong presence in China. It provides services to Chinese growers including advanced crop solutions, pesticides, environmental and safety training, digital farming technologies, and crop protection equipment.

Agribusiness is now one of over 40 applications of Ant’s blockchain technology. It has initiatives in supply chain finance, remittance, and rice traceability. Through Alipay, the company provides multiple blockchain services, mainly in health for online prescriptions and insurance.


Alipay’s operator Ant Financial signs deal with Bayer to develop agricultural blockchain solution

Alipay’s parent company Ant Financial has entered into a partnership with pharmaceutical Bayer Crop Science to develop a blockchain solution for the food and crop industry.

According to Ledger Insights, the two firms inked a letter of intent to “develop a traceable agricultural product monitoring and service system,” which aims to improve efficiency, farmer income, and food products’ quality and safety. The plan was reportedly announced at this week’s Apsara Conference in Hangzhou, China.

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,” Geoff Jiang, VP and GM of Ant Financial’s Intelligent Technology Group.

Today, @AntFinancial and @Bayer4Crops signed a letter of intent to work together to bring greater transparency in food safety and improve agricultural #supplychain efficiency through comprehensive #blockchain-based solutions.

— Ant Financial (@AntFinancial) September 25, 2019

Ant Financial announced that it also plans to extend its partnership with Hyperledger to work on interoperability, standards, and blockchain applications. The firm’s blockchain-as-a-service offers support for both its own platform and Hyperledger’s Fabric.

By working side by side, we strive to assist the agriculture industry on its transformation in the new era, enhance the application of advanced agricultural technologies, increase agriculture production efficiency, improve farmer’s income, and protect food safety,” Weidong Huang, Bayer Crop Science’s Great China division head, said.

Earlier this year, Pakistan’s Telenor Microfinance Bank and Telenor Group’s fintech arm Valyou has announced the first blockchain-based cross-border remittance service in Pakistan powered by Alipay’s blockchain technology.

TokenPost | [email protected]


Ant Financial Partners with Monsanto Owner on Agricultural Blockchain

Alipay operator Ant Financial has partnered with pharmaceutical giant Bayer Crop Science, Monsanto’s owner, to develop a blockchain solution for the food and crop industry.

Letter of intent

Enterprise blockchain news outlet Ledger Insights reported on the partnership on Sept. 26, also noting that the two firms signed a letter of intent to develop their solution to increase traceability and transparency. Per the report, the initiative was announced at this week’s Apsara Conference in Hangzhou, China.

Ant Financial also reportedly informed the public that it intends to extend its partnership with Hyperledger to work on interoperability, standards and blockchain applications. According to the report’s author, the firm’s Blockchain as a Service (BaaS) offering supports both its own platform and Hyperledger’s Fabric.

Monsanto to use blockchain?

Bayer, while being best known as a pharmaceutical giant, also acquired United States-based agrochemical company Monsanto for $63 million last year. An Ant Financial representative better illustrated the scope of the initiative:

“[The aim of the partnership is to] create comprehensive, blockchain-based solutions designed to bring greater transparency to improve food safety and the efficiency of agricultural supply chains.”

According to the report, agriculture “is now one of over 40 applications of Ant’s blockchain technology” and the firm also has initiatives in supply chain finance and rice traceability among others.

As Cointelegraph recently reported, Ant Financial is also launching a blockchain-enabled backend-as-a-service platform.


7.31.17: Your morning briefing

Welcome to the PaymentsSource Morning Briefing, delivered daily. The information you need to start your day, including top headlines from PaymentsSource and around the Web:

Cards for cars: Uber and Lyft are both working on credit cards, reports Fox Business, with Uber’s likely to be in circulation by the fall. The news site had more information on Uber’s plans, reporting Barclaycard will be the issuer of a Visa-branded card. The card is expected to be co-branded, open, and usable for other kinds of purchases. Uber’s rival, Lyft, is also working on its own card, sources told Fox Business. While Uber has faced some controversy recently, it remains one of the most recognizable brands in the rapidly expanding “app economy” or mobile-driven businesses that rely on contract workers. This growth is attracting collaboration with more traditional companies. American Express, for example, has scored with its marketing partnership with Uber, a deal that Fox business reports has boosted Uber rides per card.

Bloomberg News

Biggest U.K. payments change in a half century: The U.K. Payment Strategy Forum has produced a plan to construct a new “National Payments Architecture,” reports Law360, which says it would be the most radical change to the national payment system since the 1960s. The forum’s mission is to plan an evolution that will encourage more competition and innovation in the British payments market, with plans in place to introduce new data standards, security and other measures to increase transaction speed. The organization will review feedback over the next six months and by the end of 2017 it will deliver a final blueprint for implementation. The U.K. Payment Strategy Forum was formed two years ago and has expanded to about 650 people representing organizations covering consumer groups, businesses, government agencies, payment system operators, payment service providers and financial technology companies.

Blockchain collaboration grows: The open source blockchain development consortium Hyperledger has been gradually adding members such as American Express over the past year, and more recently added 10 new organizations. The growth comes as the group introduces a new blockchain framework, Hyperledger Fabric 1.0 that’s part of the group’s goal of building blockchain uses for finance, banking, payments, Internet of Things, supply chain, manufacturing and technology. Its new members include ANNE, Beijing RZXT Technology Development, Capgemini Financial Services, New H3C Technologies, Revelry Labs, Smart Link Labs and TradeIX. Other new members joined as Associates, a category for nonprofits and government entities, including the Accord Project, Tecnalia Research & Innovation and the University of Luxembourg.

Amazon in a box: While Amazon is encroaching on traditional retail and supermarkets, it’s also attempting to improve its core businesses of e-commerce, fulfillment and delivery. Amazon has introduced a new delivery box for apartment buildings that will also accept packages from other companies, according to TechCrunch. Called The Hub, it’s an expansion of the existing Amazon Locker service, which provides delivery stations in public places and stores that are designed to make delivery more efficient, and are also being used to boost foot traffic in bank branches at BBVA. The apartment boxes could also be a competitive play against Walmart’s attempt to build a similar service in New York., Walmart’s e-commerce unit, is collaborating with Latch to deploy a delivery system for New York apartment buildings that don’t have doormen.

From the Web

Google’s new program to track shoppers sparks a federal privacy complaint

The Washington Post | Sun Jul 30, 2017 – A prominent privacy rights watchdog is asking the Federal Trade Commission to investigate a new Google advertising program that ties consumers’ online behavior to their purchases in brick-and-mortar stores. The legal complaint from the Electronic Privacy Information Center, to be filed with the FTC on Monday, alleges that Google is newly gaining access to a trove of highly sensitive information — the credit and debit card purchase records of the majority of U.S. consumers — without revealing how they got the information or giving consumers meaningful ways to opt out. Moreover, the group claims that the search giant is relying on a secretive technical method to protect the data — a method that should be audited by outsiders and is likely vulnerable to hacks or other data breaches.

Pushing globe into easy pay mode

China Daily | Mon Jul 31, 2017 – WeChat Pay expands internationally to catch up with, and possibly overtake, market leader Alipay. WeChat Pay, the mobile payment tool developed by internet major Tencent Holdings Ltd, is accelerating overseas expansion as it narrows the gap with first-mover Alipay in China’s red-hot digital payment arena. In its latest endeavor, the company has applied for a license in Malaysia to offer local payment services via the app. If it is approved, the license would allow local users to link their local bank accounts to WeChat Pay and make payment in the local currency, the Malaysian ringgit.

Mobile payments are in, cash and card nearly out

China Daily | Mon Jul 31, 2017 – According to market research firm Analysys, China’s third-party mobile payment providers accounted for transactions worth 18 trillion yuan ($2.66 trillion) in the first quarter of 2017, up about 47 percent quarter-on-quarter. Analysys estimates China’s mobile payment market will account for transactions worth 100 trillion yuan by 2019. “Growth of mobile payment tools is faster than that of any other payment models. The trend indicates that mobile payments will become the mainstream payment model across China in the near future,” said Zhou Yuedong, vice-president of the credit card division of ICBC, the country’s largest lender.

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