The GrowHub Innovations Company, Asia Pacific’s only Web3-enabled plug-and-play ecosystem builder for food traceability and carbon credits, and Koufuku Group, a Japanese food company with over 50 years of history, have signed a partnership agreement for a joint project on market penetration using GrowHub’s proprietary Web3 technology.
In a statement, the duo said the partnership will further enhance Japan’s food traceability for Japanese consumers by enabling access to blockchain-driven technology solutions. GrowHub’s Web3 technology provides food manufacturers with an evidence-based understanding of the conditions necessary for market penetration of their products in the ASEAN market. In addition, GrowHub can also help food companies meet market penetration requirements.
GrowHub uses a proprietary blockchain-enabled technology platform that provides rich data-driven insights to agrifood producers and third-party solution providers by allowing partners to integrate directly into an existing system through GrowHub APIs. This ensures safety, provenance, and traceability. The information recorded on the blockchain is secure and non-reversible giving true transparency to the ecosystem.
The ASEAN market, which is expected to grow significantly, is attractive to many food manufacturers. However, the question and challenge of whether and how to gain acceptance of their products in that market is always a hurdle that is not low for food manufacturers to expand, said GrowHub Japan country head Dr. Daiki Nakaoka.
“This project wouldbe one example that GrowHub’s unique Web3 technology demonstrates it can answer such questions to the food manufacturers and help them solve such challenges,” Nakaoka added.
GrowHub has strong and exclusive relations with the government bodies in Western Australia and Singapore – Food Innovation Precinct Western Australia (FIPWA) and PEEL Development, Shire of Murray.
Currently in eight markets across Australia and Asia Pacific, GrowHub offers access to trusted premium products at affordable rates through the development of new agri-food and blockchain technologies emerging from our innovation centre at FIPWA. With the capital, network and expertise, we use technology to improve the experience of “farm-to-fork”.