The Olive Times, a promising Chinese olive oil brand, has teamed up with VeChain to ensure the authenticity of its oil products.
On August 25th, VeChain announced the news in a press release, stating that the collaboration was intended to help the company meet growing demand in China for organic olive oils. According to the International Olive Council, China consumes an average 66,000 tonnes per year of olive oil.
According to the press release, the Olive Times has partnered with VeChain to use its Blockchain-as-a-Service (BaaS) platform to track the product line of its premium extra virgin olive oil dubbed Special-Olive.
“To ensure the authenticity of origin, freshness of product and earn trust among domestic consumers, Olive Times is now working closely with VeChain to roll-out traceability across their entire Special-Olive product line using VeChain’s Blockchain-as-a-Service (BaaS) platform.”
VeChain data quality and blockchain will allow the company log data at key production stages to ensure that end users gets the promised quality and original product.
The process includes uploading of data about crushing, extraction, quality certificates and acidity levels. VeChain will also maintain Olive Times data security and transparency allowing consumers in ethically-conscious markets to make sure that Special Olive meets their standards.
Olive Times CEO Jane Gong praised VeChain, stating that it allows Olive Times to share all information about special olives in a consistent and reliable manner. This allows clients and consumers to have reliable, current information about the company’s operations.
Jane Gong, said:
“VeChain’s technology raises our prestige as a niche brand by allowing us to communicate with consumers through a QR code or NFC tag. Using VeChain’s flexible and cost-effective technology, everything about our product can be conveyed trustless and unalterably, offering a real-time, trustworthy window into our operations for loyal customers and consumers alike.’’