Yasheng Group (Overseas) News

March 28 2018 text below copied from the copied page from the Yasheng Group web pages
  “As a company focused on the development and implementation of proprietary
technologies for environmentally friendly farming, such as drip irrigation, we
understand the importance of developing new technologies, especially
BlockChain-based innovations, to help companies in our parent’s industry to get
competitive advantage and cost efficiency,” commented Empire’s President
Qing Qin Wu. Empire Blockchain Corp is evaluating HyperLedger as a potential
platform for developing of Agribloq. The hyperledger is an open-distributed
ledger system that stores encrypted “blocks” of information over a worldwide
connected network of anonymous computers. Because the network stretches
over many computers, the “chain” making up the system’s “blocks” is
distributed, or spread, over the network in a decentralized manner, meaning
that it is not under the central control of any single entity, whether government,
individual or company.

As new blocks are created, they are added to the chain linearly according to
chronological order, enabling the BlockChain to grow indefinitely. All
information added is recorded permanently and synchronized across all of the
networked computers in the chain so that retroactive editing or alteration of
entries is impossible. As a result, the data is “secure by design,” providing a
publicly available, verifiable history of all past transactions.

Its robust transparency and resistance to alteration makes the BlockChain a
powerful tool for records management activity involving any type of information
including digitized assets. Given the heavily regulated nature of the agricultural
industry, with a variety of government protocols and industry specifications
related to environmental impacts, animal husbandry, soil rotation, food
processing, taxation, etc., the BlockChain offers a secure method for completing
tasks required under that framework. These could include real-time data sharing
with regulators or exchanging information with joint-venture partners,
suppliers, buyers and consumers." (continued)
   
   
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