HCMC May 29, 2019 – Representatives of Vietnam Blockchain Corporation (VBC) and Infinity Blockchain Labs (IBL) hosted an information sharing session with journalists, reporters, and representatives of Vietnamese ministries and departments regarding the new blockchain based agriculture traceability solution called “Agridential.” The sharing session was part of the project “Journey to discover startup lands”, organized by the Technology Innovation and Service Center – Hoa Lac Hi-tech Park (HHSC) Management Board, a State unit is tasked with supporting the start-up of Innovation, in the framework of the Project “Supporting the Ecosystem of National Innovation in 2025” (Scheme 844).
With the aim of making information consistent and widespread in startup community nationwide, The Ministry of Science and Technology has assigned the Service and Technology Innovation Center – Hoa Lac High-Tech Park Management Board (HHSC) implemented the project “Journey to discover startup areas” within the framework of the Project “Supporting the ecosystem for start-up innovation in national innovation by 2025” (Scheme 844). This project will create opportunities for journalists and reporters to have practical experiences in start-up in localities such as Hanoi, Da Nang, and Ho Chi Minh City as well as improving professional skills, professional knowledge, communication orientation on creative entrepreneurship through training activities, sharing from experts participating in the Journey to the Group.
Participating in the meeting with the delegation was Mr. Yusaku Mishima, the CEO of Infinity Blockchain Labs, and Mr. Shumpei Takayama, the Organization Development Director of Infinity Blockchain Holdings, and representatives of Vietnam Blockchain Corporation.
Infinity Blockchain Labs and Vietnam Blockchain Corporation representatives took a picture with the delegation and reporters
The meeting gave news reporters, delegates from ministries, and businesses the opportunity to share and learn about blockchain technology with technology experts and exchange information about Technology solutions for Vietnamese agricultural products.
Agridential blockchain traceability solution draws the attention of delegates
Mr. Yusaku Mishima, CEO of Infinity Blockchain Labs, thoroughly discussed the implementation of the blockchain technology solution in the traceability of agricultural products with value chain, called “Agridential.” “Agridential” is the GS1-compliant blockchain-based traceability solution that enables transparency in information and product quality which increases consumer confidence.
Traceability with blockchain helps consumers verify the quality of agricultural products and nearly eliminates fraud and risks in the supply chain. This enhances brand reputatation and creates value for business in the local market. Information is distributed and scattered into multiple versions on a multi-server community that ensures privacy. The information is not centralized on a server, so phishing is almost impossible.
GS1 is a globally recognized standard. Therefore, the application of GS1 standards in the traceability of blockchain technology applications makes verification easier when exporting to major markets and contributes to the increase of product value.
Mr. Yusaku Mishima (right side, black vest) explains blockchain technology in agricultural product traceability
At the meeting, the delegation was shown a successful case study of the “Agridential” solution through an example of mango products in My Xuong Cooperative in Dong Thap. Each mango is given a QR Code identification stamp using GS1 standard blockchain technology. Consumers can easily look up all the information of the magoes from their origin such as fertilizing, spraying, and fruit bags, along with information on harvesting and distribution.
All information is recorded by individuals (gardeners, cooperatives, distributors …) in order to avoid the situation that one party manipulates all information. Since all information is recorded using blockchain technology, the information is immutable, meaning the information cannot be deleted, modified, or tampered with. This is the main feature of the decentralization system on the blockchain. Information is stored in a multi-server community, it is not concentrated on a server thus the ability to tamper is almost impossible.
Vietnamese mango with stamp integrated blockchain
Agridential application interface
The story of “[R]eal case, real product” with blockchain technology in the “Agridential” project received deep attention from participating parties. This meeting stimulated many proposals to pilot the “Agridential” blockchain technology in the traceability of agricultural products in provinces and cities across Vietnam. The high-quality agricultural products can be accessed according to the value chain will enhance the brand of the province and facilitate the promotion and expansion of the Community Agriculture model.
Vietnam Blockchain Corporation – VBC – Introduction
Vietnam Blockchain Corporation (VBC) is a technology company providing blockchain solutions and services in Agriculture, Manufacture, Supply Chain, Logistics, E-Commerce, Fintech, Sharing Economy, Public Services, and Smart City.
VBC aims to power Vietnam in becoming a Blockchain Country & Expert Hub.
VBC, formerly Vietnam Blockchain Country, is a subsidiary of Infinity Blockchain Labs (IBL)
Introducing Infinity Blockchain Labs (IBL)
Infinity Blockchain Labs (IBL) is a visionary R&D company committed to advancing society with next-generation solutions. IBL receives global recognition through its renowned initiatives and influential partnerships while leading the blockchain ecosystem in its home, Vietnam. IBL’s mission is to be the R&D engine that transforms future technology into practical applications for business and everyday life.
In fulfilling this mission, IBL turns the complexities of blockchain technology into practical solutions through a comprehensive range of IT consultancies, the creation and integration of Apps, and an unyielding commitment to the research and development of cutting-edge blockchain innovations. Named one of the top ten blockchain technology solution providers in 2018 by APAC CIO Outlook, the 200+ employees at IBL aspire to empower Vietnam and all of humanity with powerful blockchain innovations to power the future.
Vietnam Blockchain Corporation – VBC
Address: 5th Floor, Flemington Building, 182 Le Dai Hanh, Ward 15, District 11, TP. HCM
Hotline: (+84) 0377 887 403
Email: [email protected]
Representative: Mr. Do Van Long
Director – Vietnam Blockchain Corporation
Regional Chief Strategy Officer – Infinity Blockchain Labs
Email: [email protected]