With the improvement of living standards and the continued advancement of food quality and health education, Chinese consumers are increasingly willing to pay high prices for high-quality food.
Unwanted and unnatural ingredients are avoided and consumers are actively looking for organic, environmentally friendly and ethical foods. Olive oil is one such commodity, and demand has increased in the Chinese market because of its many recognized health benefits.
VeChainThor Brings High-Quality Food to the Market
An emerging brand “Olive Times” takes advantage of this rapidly growing market. The company is based in Gansu Province, China’s most prestigious olive growing region, and has launched a premium extra virgin olive oil; Special olives.
To guarantee the authenticity of the place of origin, the freshness of the products and to gain the trust of local consumers, Olive Times is now working closely with VeChain to use VeChain’s Blockchain as a Service (BaaS) in all of their Special Olive products.
Timeliness and freshness have always been the essence of the best extra virgin olive oil. To be labelled as extra virgin olive oil, the olives must be pressed and the oil extracted within 24 to 72 hours of being harvested. VeChain combines blockchain with data quality services and enables brands to upload data to the public VeChainThor chain in a trustworthy manner at key stages of production, including chop extraction, quality certification and acid data.
As a medium of data security and transparency, blockchain enables brands to convey stories that are critical to entering emerging and ethical markets. It can record attributes such as the manual harvest of the olives, interactions with the farmers themselves, and even data on energy use and CO2 emissions. This allows brands to participate in new ways and consumers can choose brands based on personal preferences.
Co-founder and CEO of Olive Times, Jane Gong, said:
“VeChain’s technology raises our prestige as a niche brand by allowing us to communicate with consumers through a QR code or NFC tag. Using VeChain’s flexible and cost-effective technology, everything about our product can be conveyed unalterably, offering a real-time, trustworthy window into our operations for loyal customers and consumers alike.”
“Using blockchain technology to turbocharge your marketing strategy is a new and effective method of brand-building.”
Yvette Xia, Chief Marketing Officer, commented, “Consumers want to consume in ways that address dietary concerns, but they aren’t willing to do it blindly. The transparency unlocked for food manufacturers using public blockchain helps them demonstrate their products are formulated with an eye towards the best quality. VeChain’s off-the-shelf blockchain platform is the most ideal and cost-effective solution to rapidly generate new brand engagement.”