Leading enterprise-based blockchain, VeChain, has announced a tripartite partnership involving itself, DNV GL and ASI Group, during The China International Import Expo 2019 (CIIE) press conference. During this year’s event which attracted over 3,000 companies from over 150 countries, including corporate giants like Samsung, Panasonic and Qualcomm, VeChain announced on November 7 that all three businesses will be working together to pioneer what is now known as “the first cross-continental logistics and trades solution” for the food and beverage industry, Foodgates.

[Foodgates] is the first of its kind solution as it is powered by a public blockchain with verified and certified information of the full lifecycle of the products being tracked, such as from cow selection, slaughtering, packing, cross-continental shipping all the way to restaurants for beef products.

The President of France, Emmanuel Macron attended this year’s event to discuss ways to strengthen China-France diplomatic relations. Interestingly, President Xi and his team of delegation enjoyed a tasting session of the Limousin Label Rouge Beef from Limousin Promotion introduced by President Macron and tracked by Foodgates.

Following its launch, Foodgates aims to become a reliable and trusted blockchain-powered platform for consumers of high-end food and beverage products. The platforms B2B F&B segment already signed an MoU with the Henan Pilot Free Trade Zone (FTZ). This will kickstart a collaboration that will allow the importation of food products from France to the FTZ.

In general, the trajectory of the event reinforces President Xi’s recent public embrace of blockchain technology.