Global cards giant MasterCard and Chinese internet behemoth Alibaba have joined with Blockchain Australia to establish a new platform for authenticating and tracking the nation’s food, wine and produce exports using blockchain technology.
Provided by a new industry group known as the APAC Provenance Council (APC), the platform is using blockchain to digitally track exports and offering trade financing provided by MasterCard and Alipay — Alibaba’s payment system — to help farmers get paid earlier for their produce.