MasterCard, Alibaba back blockchain to track food, wine exports

   2020-08-02 12:08

David Inderias, APAC Provenance Council (APC) co-founder.David Inderias, APAC Provenance Council (APC) co-founder.

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.



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