Olive Times, an up-and-coming olive oil brand in China, has joined hands with VeChain, a blockchain-powered chain supply platform, to ensure the authenticity of its oils. VeChain unveiled this news earlier today through a press release, saying this collaboration seeks to help the firm satisfy the increasing demand for organic olive oil in China. Reportedly, the International Olive Council estimates that China consumes an average of 66,000 tonnes of olive oil in a year.
According to the news release, Olive Times tied with VeChain to use its Blockchain-as-a-Service (BaaS) platform to trace the product line of its ultra-premium extra virgin olive oil dubbed Special-Olive. VeChain’s blockchain and data quality will help the company log data at key production stages to show the end-user that Special Olive meets the promised quality.
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This process will involve uploading data on the crushing and extraction processes, quality certification, and acidity levels. VeChain will also act as a medium of data security and transparency, allowing consumers in ethically conscious markets to ensure that Special Olive meets their standards.
Touting the VeChain platform, Olive Times CEO, Jane Gong, said it lets the company share everything about Special Olive in a trustless and immutable manner. She added that this helps offer customers and consumers a real-time, trustworthy window into the firm’s operations.
Yvette Xia, the company’s Chief Marketing Officer, added,
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Using the blockchain to bring healthy food to your plate
Before joining hands with Olive Times, VeChain joined hands with Producers Market once again to help Oatman Farms Premium Provisions, an Arizona-based family-owned farm, streamline operations. The farm’s sour bread mixes became a staple for many households after the COVID-19 pandemic, which restricted movement. However, the same event that increased demand for the farm’s products rise saw consumers demand more transparency, trust, and economic equity in value chains.
As such, Oatman Farms integrated Producers Market’s StoryBird application, which connects consumers to the supply chains of specific products. Powered by VeChain Toolchain, StoryBird collects and uploads authentic product information on the VeChain Thor blockchain. In so doing, it enables seamless validation of a product’s origin.
Explaining why Oatman Farms embraced the application, owner Dan Hansen said StoryBird helps the farm showcase its different farming practices, ingredients, and finished products transparently. He added that through the application, his farm has found an easy, dynamic, and feature-rich platform to share its stories.
With different organizations embracing the VeChain platform for their supply chains, the VeChain coin (VET/USD) has also put up a neat performance over the past few weeks. At the time of writing, VEC is changing hands at $0.1288 (£0.094) after gaining 3.66% over the past 24 hours. While this figure depicts a 53.69% from the coin’s ATH of $0.2782 (£0.20), it also means VEC’s value has almost doubled within a month.
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