Future FinTech announces agreement with Chifeng Supply and Marketing Company
Future FinTech announced cooperation with Chifeng Supply and Marketing E-commerce Co. to develop a blockchain contract farming platform focusing on sheep farming. Contract farming is defined as a sales arrangement of certain agriculture products between a customer and a farmer before production begins and it establishes conditions for the production and markets for farm products. By connecting the consumers and farmers directly, contract farming can offer farmers an assured market and offer consumers higher food quality and safety. The first phase of the blockchain contract farming platform will focus on sheep farming in Chifeng. Future FinTech agreed to utilize its technology to develop and provide the real-name blockchain platform for the contract sheep farming. Chifeng Supply and Marketing Company will consolidate local farmers and resources to transform them into standard sheep farming. By building a blockchain contract farming platform, every sheep farming process will be carried out by a real-name farmer and record on the blockchain. Consumers would be able to track the whole standard sheep farming process.