Ethereum Food Provenance System OwlChain Hoots

Announcements, Blockchain, FinTech, Innovation, Investing, News, Regulation | May 30, 2017 By:

Taiwan-based ecommerce platform OwlTing has created what it claims is the world’s first ethereum-based food provenance system, OwlChain. The new system is the result of a collaboration between OwlTing, agribusiness company Nice Garden, and food supplier Upwelling Ocean.

The new food provenance system aims to bring transparency, immutability, and integrity for food supply chains that would create a benchmark for improved food safety across the globe.

The platform is using a private blockchain developed by AMIS, which is a founding member of the Enterprise Ethereum Alliance. AMIS provided a complete and private blockchain structure service and API, so enterprises do not need to construct their own blockchain network, nodes verifications and backups, nor develop smart contracts.

With the help of the technology, the company said they are able to develop a tracing system for pork. From the birth record of the pig, to the vaccine it receives, the animal feed it takes, and the location of cutting, every process would be recorded as a node on the blockchain.

More Taiwanese vendors from different sectors are expected to join the platform, including Taiwan Agricultural Global Marketing, Sinhong Soy Sauce, Ming-Chuan Dairy Farm, and With Heart Meat Shop.

The company also plans to develop more solutions to other sectors, such as fine ingredients importers/exporters and logistics service providers. All participants will collaborate to build an open supply chain provenance system that can shed light on each step of the production and distribution processes, allowing more informed decisions by the public with regards to choosing better and safer products.

“Blockchain-based supply-chain network services are getting more attentions from internet and FinTech investors around the world,” said Thomas Hu, founder and CEO of Kyber Capital and a strategic investor of OwlTing and AMIS. “OwlTing and AMIS have combined their R&D capabilities in e-commerce and FinTech to build OwlChain, a new platform with huge business opportunities. This showcase has proved once again Taiwan’s leading talent for blockchain innovations. Kyber will continue to help OwlChain commercialize and expand to global markets.”