On December 3rd — 4th, 2019, the General Council of Anhui Tea Industry Association, namely the Forum of Poverty Alleviation in Yuexi County (a county under the jurisdiction of Anqing City, Anhui Province, China), was successfully held. At the forum, VeChain signed a partnership agreement with Anhui Tea Industry Association to accelerate the development of tea industry across the province by leveraging the VeChainThor blockchain technology. Mr. Tian Xinli, Project Director at VeChain, used the opportunity and presented to forum attendees, including government officials and industry experts, with several use cases regarding the VeChainThor Blockchain in powering the tea industry.
With a population of 62 million, Anhui is the 8th most populous province in China. The total GDP of Anhui Province is ranked as 12th highest of all provincial regions in 2017, and it is a major agricultural region and important tea production base. According to the General Office of the People’s Government of Anhui Province, the gross value of tea industry in Anhui is estimated to reach $7.1 billion by 2020. (News Source: Xinhua.com ). The tea industry is undoubtedly set on the fronts of poverty alleviation in the province, as many locals are engaged in the tea trade, often from the lower ends of the income bracket.
In October 2019, President Xi Jinping gave a speech saying China needs to “seize the opportunities” presented by blockchain. President Xi mentioned that blockchain technology could be applied to many different fields, while highlighting the value addition of blockchain contributing to traditional economic poverty alleviation. During the forum in Yuexi County, Mr. Cheng Qian, member of the Standing Committee of Yuexi County, emphasized that Yuexi County is one of the Top Economic Tea Production Bases in the entire country. With an annual and increasing tea leaf production value of approximately $1 billion and 5910 tonnes of tea output, the tea industry in this area China is precisely vital for targeted poverty alleviation. He also stressed that the local government would do its best to support the development of its tea industry.
The collaboration between VeChain and Anhui Tea Industry Association precisely fits the government’s aim to lift the competitiveness of all participants in the industry through blockchain technology. With VeChain technology, tea producers and stakeholders will stand to gain from increased efficiency and productivity in all stages of production in the supply chain as well in traceability efforts, which will strengthen the domestic and international presence of the Chinese tea industry. The partnership would leverage the VeChainThor blockchain in every way possible
As a result, the increased efficiency, competitiveness will lead to an increased output, and thus will directly bring economic benefits for the locals who are involved in the tea trade, systematically improving their lives and uplifting their income. Also, as the partnership was signed with the Anhui Tea Industry Association itself which was established to affiliate large and small scale enterprises in the tea industry, this would mean that the VeChainThor Blockchain can potentially be deployed at scale for up to all of the 670 enterprise and 194 business owners through the Association’s various initiatives.
It is worth mentioning that the credit for facilitating this partnership should given to one of our devoted community members in China, Mr. Xiao. VeChain would like to record its greatest gratitude for the introduction which eventually led to the signing of this partnership agreement.
Adopting a community-first policy and together with our talented, resourceful and passionate community, VeChain will continue to relentlessly promote the mass adoption of blockchain technology in various fields.
About Anhui Tea Industry Association
Approved by Anhui Provincial Department of Civil Affairs in 1997, Anhui Tea Industry Association was established in 1998. Guided by Requirements for the Development of Tea Industrialization in Anhui Province issued by Anhui Provincial People’s Government, the association aims to affiliate upstream and downstream stakeholders in tea industry to build a robust ecosystem featuring win-win cooperation.
Currently, Anhui Tea Industry Association has 670 enterprise members and 194 individual industrial and commercial household members.
Launched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners DNV GL and PwC, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.