Chinese blockchain company to develop forestry industry

A county in China’s northern Sichuan province has signed a strategic cooperation contract to establish a new blockchain company in an effort to develop the forestry industry, local news outlet China Net has reported.

The Beichuan Qiang Autonomous County of Sichuan Province and Beijing Sinfotek Group have jointly established a new company, Hangzhou Yi Shu Blockchain Technology Co., Ltd for “forestry economic development and industrial poverty alleviation.” The parties signed the cooperation contract in Hangzhou, Zhejiang Province, on 19 August, China Net reports.

The newly established company is reportedly one of the 19 blockchain companies to have passed the first batch of 700 project declarations in the Hangzhou Blockchain Industrial Park. The company aims to apply blockchain technology to farming and agricultural industries.

The report states: “The company’s strategy will be closely integrated with the national development strategy, and will fully promote the application of blockchain technology to realize the parallel development of enterprise value and forestry industry.”


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