Medici Ventures helps blockchain agricultural platform GrainChain expand globally

Overstock’s investment company Medici Ventures announced the cooperation with the enterprise blockchain network Symbion and the blockchain agricultural project GrainChain for global market business expansion. Medici Ventures said that the blockchain agriculture project GrainChain is using Symbiont’s Assembl enterprise blockchain network to improve platform performance and privacy features. More than 14,000 farmers currently use GrainChain smart contracts to pay. Jonathan Johnson, CEO of Overstock and President of Medici Ventures, said, “The agricultural market in Central and South America needs the GrainChain project, and the company plans to expand its market in Mexico, Honduras, Peru, Brazil and other countries.” Lianwen previously reported that GrainChain completed a $ 8.2 million round of financing led by Overstock’s investment company Medici Ventures earlier this month. Other investors include Eden Block. This round of financing, Medici Ventures, invested $ 5 million, which is also an early investor in GrainChain, and previously invested $ 2.5 million in GrainChain in December 2018. GrainChain was established in 2013 to develop a platform for tracking agricultural commodities based on distributed ledgers, and use smart contracts to help farmers and buyers conduct transactions and settlements, while authenticating and monitoring agricultural product inventory.