Technology advances and the most important thing is that it brings solutions for food producers and also meets consumer demand. JBS SA, was repeatedly criticized for having contributed to the illegal deforestation of the Amazon rainforest. They are now using blockchain technology in Brazil, which is helping to reduce the impact of deforestation in the country to create a unique solution to the problem.
JBS, based in the city of São Paulo, has received much criticism from non-governmental organizations. This, for not doing enough to guarantee that the origin of the livestock of its indirect suppliers does not originate in deforested areas of the Amazon.
In this sense, and with the greatest pressure from international organizations, the company is enduring pressure from its investors. Who threaten to withdraw capital contributions if sustainability standards are not reviewed.
USD 182.77 million fund
In this way, JBS began to work on an unprecedented initiative: “Together for the Amazon”, which combines information from suppliers with data on animal trafficking.
In addition, JBS launched a $ 182.77 million fund to promote social and economic development in the Amazon rainforest region. With prospects of investing more than 44 million dollars in the next five years, and another equal amount from then until 2030.
According to a Reuters report, JBS said it plans to launch a traceability system based on blockchain technology for its supply chain. And so ensuring that livestock are not purchased from farms that are known to have illegally felled trees.
The platform will use blockchain technology to provide confidentiality and security in access to information and transparency in supplier reviews.
Digital Bank Zro Bank in Brazil is based on Blockchain technology
The Brazilian financial services startup Zro Bank seeks to become the first Latin American platform to enable payments and an exchange of different currencies and cryptocurrencies. This, on the basis of blockchain technology.
Zro Bank has been operating since May in beta with a base of 5,000 users. Last week, the app went live with transactions in Brazilian reais and bitcoins. Its projection is to reach 100,000 users in three months.
It will soon add other traditional and digital currencies to its platform, including the dollar, the euro, and even gold.
Ant launches blockchain-based cross-border trading platform
Ant said on Friday that its new trading platform, dubbed “Trusple,” will make it easier for small and medium-sized enterprises (SMEs) to sell their products to overseas customers.
Built on top of AntChain, Trusple automates key aspects of the payment process, such as order placement and tax obligations.
This makes cross-border exchanges feasible for entities that would otherwise have difficulties if they had used legacy systems, according to the firm. Ant has partnered with companies such as Standard Chartered, Deutsche Bank and BNP Paribas to help ‘streamline’ the process.
Ant is looking to raise about $ 35 billion in the double initial public offering. After assessing initial investor interest and based on a higher valuation of around $ 250 billion or more, Reuters reported.
The news comes as Ant continues to stoke investor excitement for its upcoming dual initial public offering (IPO) next month in Hong Kong and China’s tech-focused STAR market.