OwlTing launches first blockchain food provenance system ‘OwlChain’
OwlTing, an e-commerce platform for secure food products in Taiwan, announced that it has integrated blockchain technology into its supply chain infrastructure by the launch of OwlChain, the world's first Ethereum-based food provenance system.
OwlChain has collaborated with top-quality vendors like Nice Garden and Upwelling Ocean and brings together transparency, immutability and integrity for food supply chains that would create a benchmark for improved food safety across the globe.
The platform leverages the consortium blockchain infrastructure developed by AMIS, which is a founding member of the Enterprise Ethereum Alliance. The solution is transparent, immutable and more secure food provenance system for different production processes.
“Blockchain-based supply-chain network services are getting more attentions from internet and fintech investors around the world. 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,” Thomas Hu, founder and CEO of Kyber Capital and a strategic investor of OwlTing and AMIS, said.
With the help of blockchain technology, OwlChain will create a tamper-resistant food provenance and open its API to vendors around the globe. The platform is expecting to see the joining of more Taiwanese vendors from different sectors, including Taiwan Agricultural Global Marketing, Sinhong Soy Sauce, Ming-Chuan Dairy Farm, With Heart Meat Shop.
The company stated that it will also develop more solutions to other sectors, such as fine ingredients importers/exporters and logistics service providers, in the future. The participants will be collaborating to create an open supply chain provenance system that can shed light on each step of the production and distribution processes.