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China company to build world’s first “Blockchain Farm” with IOT data

Zhongnan Construction (SZ:000961) announced that the company plans to contribute 297 million yuan(~43 million USD) to set up Zhongnan Constrcution Blockchain Agricultural Company in Shenzhen. Along with Beidahuang(SH:600598), the new branch company will set up a joint company to build a agricultural product trading platform and financial platform on the basis of the agricultural data, and establishes a supply and certification traceability system based on blockchain technology for agricultural products. The Zhongnan Company invest 299.99 million yuan, holding 80% stake in the joint company, while Beidahuang invest 1 yuan to hold 20% shares.
agriculture-blockchain

Beidahuang partners with Zhongnan to build a blockchain-based farming information network

As both companies are listed in China A share stock exchange, public data shows that Beidahuang (the Great Northern Wilderness) is China’s largest commodity grain production base, with most automated level of cultivation among listed companies in China. The Company controls the output of 11,58 million mu (~7,720 km2) of arable land with clear advantages on business scale, resources, technology, equipment, management and green products.
According to the announcement, Beidahuang Company will provide data of its agricultural e-commerce platform, farm management system and agricultural internet of things (IOT). Such data includes but not limited to the land, farmers, planting and transaction collected by Beidahuang or via a third party. Beidahuang has completed the construction of IOT network for its 16 subsidiaries. Probably that’s how Beidahuang managed to swap the data with 20% shares of the joint company for merely 1 yuan.
This is another major move of Zhongnan Construction in just 3 month. Zhongnan is seeking to be a leading player utilizing big data and blockchain technology. On November 8, 2016, Zhongnan Construction announced that it planned to participate in the pre-B round of convertible negotiable instruments investment of PeerNova in the United States and set up domestic joint ventures to promote blockchain technology in areas such as banking industry. On 15th December 2016, Zhongnan Construction announced to invest 100 million yuan in Gingkoo, aka the first blockchain listed company, holding 33.33% of the total shares.
The joint company will utilize the data generated from the agricultural IOT to build agricultural product trading platform and financial platform and a blockchain-based product tracking system. The blockchain can assure customers with food quality that could be verified by customers themselves. Also the company can use the big data credit system to provide financial services for farmers.
Food safety has become a serious social problem and one of top concerns for Chinese. Numerous reports of companies faking food or using illegal additives has worried Chinese in the past few years. By integrating blockchain technology with agricultural products, Zhongnan is targeting to bring safety back to the dining table.

COMMENTS(11)

  • hl5460
    9 months ago hl5460

    Zhongnan Construction (SZ:000961) announced that the company plans to contribute 297 million yuan(~43 million USD) to set up Zhongnan Constrcution Blockchain Agricultural Company in Shenzhen. Along with Beidahuang(SH:600598), the new branch company will set up a joint company to build a agricultural product trading platform and financial platform on the basis of the agricultural data, and establishes a supply and certification traceability system based on blockchain technology for agricultural products. The Zhongnan Company invest 299.99 million yuan, holding 80% stake in the joint company, while Beidahuang invest 1 yuan to hold 20% shares.http://news.8btc.com/china-company-to-build-worlds-first-blockchain-farm-with-iot-data

  • notthematrix
    9 months ago notthematrix

    Quote from: hl5460 on January 19, 2017, 09:27:25 AM
    Zhongnan Construction (SZ:000961) announced that the company plans to contribute 297 million yuan(~43 million USD) to set up Zhongnan Constrcution Blockchain Agricultural Company in Shenzhen. Along with Beidahuang(SH:600598), the new branch company will set up a joint company to build a agricultural product trading platform and financial platform on the basis of the agricultural data, and establishes a supply and certification traceability system based on blockchain technology for agricultural products. The Zhongnan Company invest 299.99 million yuan, holding 80% stake in the joint company, while Beidahuang invest 1 yuan to hold 20% shares.http://news.8btc.com/china-company-to-build-worlds-first-blockchain-farm-with-iot-data

    Private blockchain is like……https://www.youtube.com/watch?v=t0gqSXEJz0E

  • Idrisu
    9 months ago Idrisu

    Quote from: notthematrix on January 19, 2017, 04:52:53 PM

    Quote from: hl5460 on January 19, 2017, 09:27:25 AM
    Zhongnan Construction (SZ:000961) announced that the company plans to contribute 297 million yuan(~43 million USD) to set up Zhongnan Constrcution Blockchain Agricultural Company in Shenzhen. Along with Beidahuang(SH:600598), the new branch company will set up a joint company to build a agricultural product trading platform and financial platform on the basis of the agricultural data, and establishes a supply and certification traceability system based on blockchain technology for agricultural products. The Zhongnan Company invest 299.99 million yuan, holding 80% stake in the joint company, while Beidahuang invest 1 yuan to hold 20% shares.http://news.8btc.com/china-company-to-build-worlds-first-blockchain-farm-with-iot-data

    Private blockchain is like……https://www.youtube.com/watch?v=t0gqSXEJz0E
    Am happy that more china company are investing in blockchain. Chinese are the major shareholders in most of the blockchain and crypto currencies’ around the world. Remember, that Chinese own up to if not more than 50% crypto currencies investment and because of this any little  positive fundamental issue from China move the bitcoin altcoin market in a fluctuations level.

  • notthematrix
    9 months ago notthematrix

    Quote from: Idrisu on January 19, 2017, 06:05:44 PM

    Quote from: notthematrix on January 19, 2017, 04:52:53 PM

    Quote from: hl5460 on January 19, 2017, 09:27:25 AM
    Zhongnan Construction (SZ:000961) announced that the company plans to contribute 297 million yuan(~43 million USD) to set up Zhongnan Constrcution Blockchain Agricultural Company in Shenzhen. Along with Beidahuang(SH:600598), the new branch company will set up a joint company to build a agricultural product trading platform and financial platform on the basis of the agricultural data, and establishes a supply and certification traceability system based on blockchain technology for agricultural products. The Zhongnan Company invest 299.99 million yuan, holding 80% stake in the joint company, while Beidahuang invest 1 yuan to hold 20% shares.http://news.8btc.com/china-company-to-build-worlds-first-blockchain-farm-with-iot-data

    Private blockchain is like……https://www.youtube.com/watch?v=t0gqSXEJz0E
    Am happy that more china company are investing in blockchain. Chinese are the major shareholders in most of the blockchain and crypto currencies’ around the world. Remember, that Chinese own up to if not more than 50% crypto currencies investment and because of this any little  positive fundamental issue from China move the bitcoin altcoin market in a fluctuations level.

    As long it is the open Bitcoin blockchain I agree https://www.youtube.com/watch?v=o7kD9HCFjHw for the rest Iam Sorry!

  • Slow death
    9 months ago Slow death

    These Chinese are dominating the world of cryptocurrency and bet on the technology. many companies like genesis mining, BitMain… are in China and they have exchanges like BTCC… the Chinese have a very big influence. This is scary

  • notthematrix
    9 months ago notthematrix

    Quote from: Slow death on January 19, 2017, 07:15:21 PM
    These Chinese are dominating the world of cryptocurrency and bet on the technology. many companies like genesis mining, BitMain… are in China and they have exchanges like BTCC… the Chinese have a very big influence. This is scary

    There are a lot of people in china.Some Miners are using a chineese pool.that does not say all power and BTC are centralized China!

  • hl5460
    9 months ago hl5460

    Quote from: Slow death on January 19, 2017, 07:15:21 PM
    These Chinese are dominating the world of cryptocurrency and bet on the technology. many companies like genesis mining, BitMain… are in China and they have exchanges like BTCC… the Chinese have a very big influence. This is scary

    You may say Chinese contribute a lot to the development of bitcoin or blockchain related industry.

  • hl5460
    9 months ago hl5460

    Quote from: Idrisu on January 19, 2017, 06:05:44 PM

    Quote from: notthematrix on January 19, 2017, 04:52:53 PM

    Quote from: hl5460 on January 19, 2017, 09:27:25 AM
    Zhongnan Construction (SZ:000961) announced that the company plans to contribute 297 million yuan(~43 million USD) to set up Zhongnan Constrcution Blockchain Agricultural Company in Shenzhen. Along with Beidahuang(SH:600598), the new branch company will set up a joint company to build a agricultural product trading platform and financial platform on the basis of the agricultural data, and establishes a supply and certification traceability system based on blockchain technology for agricultural products. The Zhongnan Company invest 299.99 million yuan, holding 80% stake in the joint company, while Beidahuang invest 1 yuan to hold 20% shares.http://news.8btc.com/china-company-to-build-worlds-first-blockchain-farm-with-iot-data

    Private blockchain is like……https://www.youtube.com/watch?v=t0gqSXEJz0E
    Am happy that more china company are investing in blockchain. Chinese are the major shareholders in most of the blockchain and crypto currencies’ around the world. Remember, that Chinese own up to if not more than 50% crypto currencies investment and because of this any little  positive fundamental issue from China move the bitcoin altcoin market in a fluctuations level.

    Yes, Chinese seems like to convert their capital to technology. Zhongnan is a real property building contractor.

  • maku
    9 months ago maku

    Quote from: Slow death on January 19, 2017, 07:15:21 PM
    These Chinese are dominating the world of cryptocurrency and bet on the technology. many companies like genesis mining, BitMain… are in China and they have exchanges like BTCC… the Chinese have a very big influence. This is scary
    It is scary, but tell me who we can blame in this situation? Definitely not Chinese investors for stepping forward and  grabbing the opportunity of this new tech. China is growing and they are not afraid of join new technical trends, invest in blockchain tech (although in this case it is totally not bitcoin related).Western companies have no guts to start projects like these, they are bound by restrictions and regulations to the point it stall their growth.

  • Kprawn
    9 months ago Kprawn

    I understand the plan to build agricultural product trading platforms and financial platforms and a blockchain-based product tracking system, but how does this fit into food safety? Will they use this to track suppliers of food, to make sure they have reliable data to find the culprits thatadds illegal additives to food or produce?  Anyone…

  • examplens
    9 months ago examplens

    China are most open country to the cryptocurrency technology, and I think rather influenced the popularity of crypto value. It is legal. But I also agree not good to have such a concentration, because open up opportunities for manipulation

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