Honeywell, a well-known US developer of smart industrial technology, will develop blockchain technology with Beijing-based Capinfo and apply it in tracking agricultural produce to ensure food safety.
A joint lab is to be set up under both parites’ framework agreement. Each will contribute CNY 5 million to pool a research and development fund for the blockchain food tracing technology.
Capinfo will name the research and development team's leader and Honeywell its deputy, to develop technology and products such as portable biochips for fast detection of pesticide residue.
Source: Yicai Global