The National Development Council (NDC) of Taiwan announced today that it will launch a blockchain alliance in three months, English-language local media Taiwan News reported on March 26.
The NDC is the policy-related agency of Taiwan’s executive branch of government, known as the Executive Yuan.
Per the report, Minister Chen Mei-ling told the Smart City Summit & Expo in Taipei that the NDC has already consulted other government departments, experts and academics in order to determine the purpose of the alliance.
Mei-ling reportedly expressed the hope that Taiwan may become an important hub in global blockchain development and use this technology to improve public governance. This declaration is in line with Taiwan’s announcement that it will establish a new fundraising mechanism based on security token offerings (STOs) at the beginning of the current month.
Taiwan News writes that the minister also lauded blockchain’s potential in improving food safety by tracking products through the supply chain.
The idea of tracing food using blockchain technology has already been utilized by many companies globally.
As Cointelegraph reported at the beginning of the current month, North America’s largest branded shelf-stable seafood firm Bumble Bee Foods has launched a blockchain platform for seafood traceability. Even more recently, the United States National Pork Board partnered with blockchain startup ripe.io to test out a blockchain platform for pork supply chains.