The China International Import Expo (CIIE) is a trade fair held in autumn annually since 2018 in Shanghai, China. It is the world’s largest first import-themed national level-expo. It will feature exhibitions of multiple countries and businesses and the Hongqiao International Economic and Trade Forum. CIIE was proposed and announced by Xi Jinping, General Secretary of the Communist Party of China.
VeChain, the world’s leading blockchain application platform driven by enterprise adoption, exhibited a number of blockchain solutions to the potential enterprise customers and government officials. The platform made a declaration of tripartite collaboration along with ASI Group, which is specialized in logistics, import solutions and global trade, providing value added applications, built-to-suit solutions and covering 180 countries, to auspicate the foremost cross-continental logistics and trade solutions powered by the VeChainThor public blockchain for food & beverage industry namely Foodgates, which aims at providing a world premium, trusted blockchain-powered platform for international buyers and consumers of high-end food and beverage products. On November 7, the announcement was made in a press conference organized by the France China Committee where more than 50 prominent guests were present including government officials, journalists from both corners.
This even had a great significance as we know Chinese President, Xi Jinping, embraced blockchain technology and desired its development on a national level in the state. It is thought that VeChain is going to be an outright beneficiary of the bullish trend in the global economy.
The trade relationship between China and France have reached peak point and in money exceeded 60 billion U.S. dollars. To take current business with blockchain technology, ASI Group is in partnership with VeChain and DNV GL, which is an international accredited registrar and classification society headquartered in Hovik, Norway. Foodgates entered into a MoU with the Henan Pilot Free Trade Zone doff the collaboration to import food products from France to the FTZ.
The statesman of French, Macron, stated that their blockchain-powered platform is intent to bringing transparency and traceability to the French-Chinese B2B market and he was enabling French producers to access the great Chinese market faster and safer. For the business systems all comprehensive technical support is being provided by Blockchain expertises and development team. DNV GL will ensure transparent and consistent data are logged onto the VeChainThor public blockchain and will also ascertain that the scaled trade platform’s rules which have been illustrated for all producers and their products.
Utilizing the trust on blockchain technology, VeChain is aimed at adopting blockchain technology to power the real economy. A productive result is being seen in cross-continental logistics and trade unions as the products are reaching out to an enormous food market in China. It has been planned that ASI group along with VeChain and DNV GL will co-host gourmet dinner to provide firsthand experience of the blockchain powered trusted platform for food. Because of the blessing of Foodgates, the solution enables Chinese buyers to purchase excellent French products with total and transparent assurance about the origin, quality, safety and end-to-end traceability. The system just created a bridge between two sides. VeChain is getting bolstered because the adoption of its blockchain technology is confronting queer market opportunities. The project is creating business value to the real economy.