Yasheng Group (Overseas) News

March 29 2018 text below copied from the copied page from the Yasheng Group web pages
   
  The block chain’s transparency also provides a company’s managers or investors
with the ability to audit its history, helping to avoid contract conflicts and
adding efficiency to the due diligence process. By potentially saving time and
eliminating contract snafus that could lead to millions of dollars in losses, the
BlockChain will revolutionize the way business is done in the agricultural
industry.

Another area of impact is the ability to reduce the damage caused by hacking
attacks. In the wake of attacks on major industries, all industries may be seen as
highly vulnerable on a global basis. The blockchain’s nature as a system that is
synchronized and distributed makes it highly resistant to hacking.

“Agriculture companies could benefit from BlockChain technology for a range
of applications, from optimizing efficiency to transparency in business
transactions to securely storing inventory data on the BlockChain,” First Bitcoin
Capital CEO Greg Rubin stated, “In the last few years, the industry has
struggled with price volatility and production levels, which has led to cost-
cutting efforts, reduced outputs and layoffs. These challenges have prompted
many companies to rethink how they operate and to identify new ways to
optimize supply chain management and transaction processing. As such,
BlockChain is slowly gaining traction and will gain broader acceptance by the
agriculture industry for its potential to fundamentally change the way certain
transactions are conducted.”

“Agribloq is looking forward to leveraging a collective experience in the
agricultural industry and with BlockChain technology to help solve the inherent
difficulties and complexities up and down the industry,” Rubin stated.

In addition to this BlockChain initiative, Yasheng, via its subsidiary, Empire is
expanding its financing capacities as First Bitcoin is organizing a Token
Generation Event that will place 800 of 888 million HERB (coins) at Yasheng’s
disposal which can be utilized as a payment system for the supply chain
management systems and elsewhere."
   
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