Ant Financial, Bayer to Jointly Develop Blockchain for Agriculture

Bayer Crop Science has agreed to work with Ant Financial, the payments affiliate of Alibaba, to develop a blockchain-based system for agricultural product monitoring, reports Richard Meyer at CoinDesk. The companies signed a letter of intent to utilize blockchain technology to increase efficiency, improve the income of farmers, ensure the production of high-quality food and aid in the digitization of agriculture, according to a Sept. 25 announcement.

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The agreement would bring together the portfolio and digital-farming technologies of Monheim am Rhein, Germany-based Bayer Crop Science, and the blockchain division of Hangzhou, China-based Ant Financial.

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