Lion and DropChain Partner for Blockchain-enabled Transparency
DropChain is excited to announce today the signing of an agreement with Shanghai Great Lion Food & Beverages Management Co., Ltd (上海伟狮餐饮管理有限公司), a subsidiary of Lion Pty Ltd — a leading beverage and food company with a portfolio that includes many of Australia and New Zealand’s favourite brands such as Little Creatures Australian craft beer and Wither Hills New Zealand wine. Under the agreement, Lion’s beer & wine products will be among the first to pilot DropChain’s product tracking protocol.
The lack of transparency and accountability in supply chains enable a market for food fraud, estimated to cost $40 billion annually worldwide. Using a gamified incentive mechanism underpinned by blockchain technology, DropChain rewards various stakeholders along the supply chain for contributing information on the make-up and movement of products on the platform. The platform makes the same set of information accessible, allowing for verification of authenticity, notification of food contamination or recalls and, conscious, ethical food consumption.
“Supply chain traceability has been an ongoing conversation for decades because existing solutions fail to align incentives for all stakeholders; it is fundamentally a human problem. We cannot trust the labels on the shelves, or food on our tables as a result of this,” said Billy Chan, CEO and Founder of DropChain.
Since 2016, DropChain has operated as a mobile B2B alcohol distribution platform and we’ve had the honor of retailing Lion China’s beer & wine products on DropChain throughout this period. The strong relationship we’ve developed over the years, in addition to the vision we possess for DropChain’s supply chain ecosystem, enabled this partnership to happen.
Shanghai Great Lion Food & Beverages Management Co., Ltd (上海伟狮餐饮管理有限公司) is a subsidiary of Lion Pty Ltd, an Australian food and beverage company with brands, breweries, distributors and retailers across worldwide markets, generating over AUD 4.1bn (USD 2.91b) in annual revenue in 2017. The company has established Little Creatures craft beer bars in Hong Kong, Shanghai, Beijing, and recently opened Little Creatures Singapore, a brewpub that will bring Australia’s most-loved craft beer brand to the city.
“Chinese consumers buy our brands because they believe in the quality of Australian & New Zealand products and want an authentic experience. We look forward to piloting DropChain to build consumer trust & engagement,” said Eugene Chew, Regional Director, Greater China.
DropChain has already spent years building strong relationships with the hundreds of brands on formerly-known Foowala. Lion China will assist in the development of DropChain and provide access to product, distributors & supply chain. Through this collaboration, DropChain can better understand the pain points along supply chains, as well as prototype and validate their model within a limited distribution channel.
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About DropChain
DropChain is a supply chain ecosystem addressing the need for transparency and traceability in the global food and beverage trade. We use blockchain technology to create innovative, gamified incentive programs that reward physical distribution channels. Our parent company, Foowala, which manages and has strong relationships over hundreds of unique brands and over 1000 SKUs, has recently been rebranded as part of DropChain and offers first deployment opportunities for our product tracking network. With networks and experience in food and beverage distribution under our belt, we aim to positively transform behavior in food and beverage distribution.
About Lion
Lion is a leading beverage and food company with a portfolio that includes many of Australia and New Zealand’s favourite brands. Shanghai Great Lion Food & Beverages Management Co., Ltd is part of the international arm of Lion — Lion Global Markets, which was setup in 2015 and now sells Lion beer, cider & wine in 30 global cities across the UK, Europe and North America and Asia, with a chilled supply chain across the globe which enables us to offer the freshest, best quality beer to our customers.
