InterValue officially announced the recent signature of a long-term strategic agreement with Longping, a China-based company specializing in the production of agricultural products. Both sides will closely collaborate on the development of blockchain applications for agricultural products.
Longping is headquartered in Dili, East Timor, and was founded in February 2014. In 2017, the company established a branch in Changsha, China. In the past few years, it has participated in many cooperation initiatives in countries such as East Timor, Angola，and Brazil, where company invited relevant agricultural officials from seven Portuguese-speaking countries to deliver technical training and engage in scientific and technical discussions. Longping focuses on organic and sustainable development, and engages in crop seed production and management, rice processing, vegetable cultivation, marine aquaculture and international trade of high-quality agricultural products in East Timor. It has been exporting organic coffee, honey, coconut oil, etc. to the Chinese market, and it plans to get listed on the East Timor stock exchange.
With the signing of this strategic agreement, InterValue intends to work together with Longping o explore relevant technical solutions for blockchain-based applications in the agricultural sector. InterValue will build a decentralized online agricultural product marketplace based on blockchain and distributed storage technology. This aims to create a new public chain dedicated to the whole agricultural industry and build an ecosystem to reinforce trust and traceability. The on-chain traceability of agricultural products will make the information more transparent and tamper-proof. This will also promote the digitalization of the agricultural industry cluster, flatten the supply chain and redistribute the value across the whole supply chain of the agricultural industry.