JD.Com Inc (ADR) (NASDAQ:JD), a Chinese e-commerce company headquartered in Beijing, said Friday that it will build a supply management platform using blockchain technology to track beef imports from Australian.
The e-commerce giant has formed a partnership with Australian meat exporter InterAgri to import Pure Black Angus Beef products to China for the first time.
The two companies plan to work together on launching a blockchain-enabled traceability system to provide consumers with transparency on where their beef comes from and how it has been managed during the production process, JD.Com Inc (ADR) (NASDAQ:JD) said in a statement.
The new blockchain system, likely to be implemented this spring, will allow consumers to track each piece of Pure Black Angus Beef right back to the farm in Australia and access a range of information, including details of animals such as where and how the animal was raised and how the meat was processed and transported, JD.com added.
“We’re excited to partner with InterAgri to deliver this level of transparency to our 266 million customer base. We’re increasingly implementing blockchain-enabled traceability solutions to give consumers confidence that they are buying safe, reliable products for their families. Consumers in China don’t just want quality imported products, they want to know that they can trust how and where their food is sourced, and blockchain helps us deliver this peace of mind,” JD.com CTO Chen Zhang stated.
As part of its smart supply chain initiative, JD.Com Inc (ADR) (NASDAQ:JD) is already implementing blockchain technology in several areas of its business. At the end of last year, JD, Walmart, IBM, and Tsinghua University National Engineering Laboratory for E-Commerce Technologies launched the Blockchain Food Safety Alliance to enhance food tracking, traceability and safety in China.
Meanwhile, shares of JD.Com Inc (ADR) (NASDAQ:JD) were trading down 5.97% in the morning session. The stock is up nearly 4% so far this year.