Grain signs strategic partnership with large Chinese manufacturer
Last week I mentioned that we had a new partnership coming up. One so big it would bring more stability to the Grain project.
Today you’ll find out what I was referring to:
Grain is joining forces with a Chinese manufacturer to research, build and distribute blockchain-based technology for the Chinese labor market.
Although we’ve signed the agreement, the company has to remain anonymous until the official founding of the Chinese Joint Venture, due to local capital market disclosure rules on listed companies.
What is the partnership about?
The primary goal of this partnership is to build a technology solution catered to the Chinese market to serve a broad range of services related to labor (administration, payroll, etc.).
The Chinese partner will provide the market knowledge to make the solution ready for the Chinese market from a legal and commercial perspective.
Grain, on the other hand, will take the lead in providing knowledge and IP from its backbone technology for labor contracts.
Why this partnership is important
A joint venture is the way Grain will expand in commercial unfamiliar territories. While we build the technology together, the JV partner takes care of the go-to-market strategy in China, an obvious key market due to its size.
Our Chinese partner not only has thousands of employees and contractors whose contracts will be processed through the solution, they will take care of the go-to-market strategy and execution.
The right partner
Our new partner lives and breathes their company mantra of “promoting humanity, development, and innovation”. For the past 10 years, they’ve focussed on creating a harmonious work environment with fair compensation.
They’re constantly on the lookout for new innovations to serve that goal and make their company even more competitive. We even met them while they were on a roadshow to discover new European innovations.
Since their philosophy is so clearly in line with what we want to accomplish, we’re very excited to join forces.
Talk soon,
Onno Hektor
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