VeChain Partnership Highlight Series : Leg 1 Summary

Cryptocurrency News and Public Mining Pools

VeChain Partnership Highlight Series : Leg 1 Summary

VeChain Partnership Highlight Series : Leg 1 Summary

https://vechaininsider.com/wp-content/uploads/2019/04/JDW_3055_w2482-768×511.jpg

https://preview.redd.it/hko7umtq51l61.jpg?width=960&format=pjpg&auto=webp&s=19e484dec24a6d31b1bcf95c7ddf48c47b6e7ca9

Intro:

With the latest boom in interest in the crypto markets, I thought it would be good for all of the newcomers to pull together a ton of information and highlight some partnership info with what is, in my opinion, one of the best crypto projects in the sphere. This series will highlight a number of HUGE partnerships and working relationships which are already confirmed with VeChain, the companies involved in the partnership, and the technology and solutions being worked on with those partners. For the first leg of the series, I covered five of the most recognizable names partnered with VeChain: Walmart China, DNV GL, PwC, BMW, and BYD. Links to the full writeups in the headings below. Thanks and DYOR!

1. Walmart China

Foodsafe Tracability System

Walmart China is using VeChain technology to track the supply chain of the goods they sell in stores in China, including meat and produce, at limited scale for now. These products have a QR code or NFC chip embedded in the packaging which can be scanned from your phone, to reveal the details of how that product made it to the shelves of the store prior to purchase. This could include how the animal was raised, the fertilizer contents which the produce was grown in, the farm which raised the goods, the path of delivery from farm to store, etc. These are just some of the details of this alpha stage of their adoption of VeChain tech into their supply chain.

Assuming things go well with the launch in China, Walmart could move to implement Vechain technology in their global supply chain. Once VeChain has a large scale live partnership with Walmart US, we should expect things to really start to look up from there. Other companies will see the Fortune 1 company partnered with VeChain and see all of the benefits their technology brings, and will flock to use it as well or be left in the dust as the industry evolves. Since the partnership with Walmart China began, they have already moved forward with bringing their Sams Club stores into the mix as well with their Safe Food Tracability Platform.

Elton Yeung, strategy and innovation lead at PwC Mainland China and Hong Kong:

“We believe that Walmart’s Blockchain Traceability System will be an excellent example of blockchain technology applied in the retail industry, helping to improve food safety and quality management, and providing a strong guarantee for building consumer trust.”

2. DNV GL

"As a global provider of assurance services and one of the world’s leading certification bodies, DNV GL sees the potential that blockchain possesses in boosting transparency and traceability. On the other side, VeChain, one of the early movers that pioneered the technology outside of fin-tech, made a perfect match for them.

On January 24, 2018, the two parties forged a strategic partnership with an initial common goal of combining DNV GL’s know-how in the assurance industry with advanced blockchain technology provided by VeChain. This partnership aims to empower clients with increased control over their products and services and improve overall efficiency across the value chain."

"DNV GL will use VeChain's platform ("Blockchain X") to improve the transparency of product and supplier information, significantly increasing the efficiency of supply chains. VeChain and DNV GL have embarked on a spectacular journey of promoting mass commercial adoption of blockchain technology not limited to supply chains, and successfully launched multiple blockchain-based solutions such as My Story™, BrightCode, Digital Carbon Ecosystem, and helped integrate blockchain technology into various industries and sectors including F&B, FMCG, Wine, Luxury, Automobile, Healthcare, and more. With the application of the VeChainThor blockchain, DNV GL and VeChain are creating real, net positive economic value for enterprise clients through provable, cutting-edge technology. DNV GL was also the first company to report ownership of an Authority Masternode."

"Tag. Trace. Trust."

3. PwC

"Blockchain has the potential to powerfully disrupt many aspects of how businesses and economies work; even how societies are organised. Blockchain goes to the core of the role of trust in markets – an area that is central to PwC’s purpose.

We drive business transformation by aligning all three critical areas of our Business, Experience, and Technology (BXT) method. This shapes the way we think through the challenges you face – bringing together business acumen, user experience design, and existing and emerging technology.

We deliver blockchain solutions that reflect your specific business needs, and provide trust, transparency, and security. Together, we can differentiate your business and help you set the stage for future growth."

"With the PwC partnership that VeChain now enjoys, there will be more blockchain rollout all across Hong Kong, Asia and Southeast Asia. Furthermore, VeChain will realize more capital and resource integrations into its programs while having access to industry experts with know-how and strategic advice for the development of VeChain’s agenda."

4. BMW

VerifyCar

Odometer fraud is a big problem in the automotive industry.

Cihan explains that in Germany, one-third of all vehicles sold have a manipulated odometer. The value of a car depends on the number of kilometers driven, resulting in an economic impact of this fraud of around $3.400 per car.

Blockchain-based solutions like VerifyCar offer a cure for this problem. This app, currently being piloted, could enable users to track and verify the complete vehicle history, and share data – like the mileage – with third parties. It could even be used in conversation with the seller: “As a potential buyer, I could use the VerifyCar app on my phone to scan the QR code in the seller’s app,” Dr. Luckow explains. “A green check mark then tells me that the used vehicle’s data is plausible and has been verified.”

https://www.bmw.com/en/innovation/blockchain-automotive.html

5. BYD

BYD, One of the Largest Chinese Car Brands and World’s Top Selling Plug-In Electric Car Manufacturer, Is Further Tackling Carbon Emission Imbalances by Partnering with DNV GL and VeChain, Completing Blockchain Based Proof of Concept and is Mass-Production Ready

Shanghai, China — BYD debuts their carbon banking solution as co-developed with DNV GL and VeChain on the VeChainThor public blockchain platform.

In the initial release of a series of proof of concepts established between the three partnering parties, BYD announces that they have completed a carbon banking solution for the car models. This solution utilizes VeChain’s automobile lifecycle management solution that encompasses nearly every branch of the automotive industry. This will be the first enterprise level application moving the data of millions of cars, buses, trains, and other vehicles onto a public blockchain platform.

This carbon bank solution rewards vehicle operators with carbon credits based on their vehicles’ driving performance and carbon reduction. This solution provides the tools necessary to construct a blockchain-based ecosystem aimed at reducing the global carbon footprint. Each footprint captured will be recorded on the VeChainThor Blockchain and made available to clients interested in participating in the initiative. With this solution, corporations will be able to access a platform that facilitates easy data management, sharing, and analytics. Data will no longer be considered fragmented and untrustworthy, but united and reliable.

If you made it this far, thanks for reading! There is so much more information out there for these partners, and for the laundry list of other partnerships VeChain boasts, so as always, DYOR! Leave any further details you'd like to see added, or any ideas for the next leg of partnership writeups in the comments! And come give us a visit over at r/vechain! Happy hodling!

submitted by /u/JimmyTwigss
[link] [comments]

Facebook Comments