- High-impact partnerships with established companies are playing a key role in the growth and development of VeChain and the adoption of its blockchain solutions.
- Among the most notable partners are the billion-dollar companies involved in the logistics and supply chain industry.
VeChain was designed to enhance the supply chain process with functions such as traceability, transparency, and carbon management solutions. In a complex industry, the supply chain industry calls for collaborations to ensure a successful end-to-end supply chain process.
In its efforts to solve supply chain issues and ease information management for businesses, VeChain has sought partnerships and collaboration with over 300 enterprise partners. In this article, we look at 12 high-impact partnerships that are set to transform industries.
Kuehne & Nagel
Inked in 2016, this is one of the most notable collaborations for VeChain. Kuehne & Nagel is involved in the supply chain and logistics industry and generates over $22.4 billion in revenue. This means that the company commands nearly 15 percent of the world’s air and sea freight business in terms of revenue.
Kuehne & Nagel China utilizes VeChain blockchain technology to tag parcels and assets with a chip containing a private key that reflects ownership information on the blockchain. This allows customers to track goods in real time.
PriceWaterhouseCoopers (PwC)
PriceWaterhouseCoopers (PwC) which is one of the top four auditors in the world inked a deal with VeChain in 2017. According to the details of the deal, PwC would implement VeChain’s blockchain solutions to its big client base, enabling its clients to verify and trace their products. Notably, some of PwC’s client base includes IBM, Ford, Dell, Cisco, and 3M as well as 400+ out of the Fortune 500 companies.
In addition, PwC would provide credibility and introductions to companies interested in future partnerships with VeChain.
Walmart China
VeChain and Walmart have been working together for a couple of years. As reported by CNF, the two projects recently expanded their partnership.
With the VeChain IoT and blockchain solution, the China arm of Walmart can monitor temperature-controlled products while still in transit. This capability helps to reduce the risk of spoilage and contamination and promotes food safety. Walmart has been singing the praises of the VeChain blockchain technology for being efficient, secure, and able to transform the entire supply chain industry.
UFC
Inked in 2022, VeChain became the first official layer 1 blockchain of the UFC. This means VeChain would be shown to around 900 million TV households in 175 countries.
VeChain would reportedly have access to UFC’s state-of-the-art facilities in a bid to develop corporate activities and events. Fans would also have the chance to get VIP sweepstakes promotions to attend some of its biggest events as part of the collaboration. UFC athletes would also benefit from the collaboration as there will be an annual Brand Ambassador fund. This will offer huge paid marketing opportunities to participating athletes.
Groupe Renault
The partnership with the French automobile giant Renault was established in 2017. Working together with Microsoft and Viseo, VeChain developed a digital car maintenance book that is tamper-proof. This allows car owners to share tamper-proof data about the car.
This integration not only demonstrates the blockchain’s robustness but also opens the door for further partnerships with the automobile industry.
Republic of Cyprus
VeChain has gone a step forward to partner with the government of Cyprus. Specifically, VeChain is working with Invest Cyprus, the government’s dedicated partner for working with Foreign Investments. VeChain is employed to come up with, develop, and implement innovative blockchain solutions.
The VeChain team is able to formulate policy reforms that facilitate using blockchain as an underlying infrastructure for the operations of investment and other government services.
Direct Imported Goods (D.I.G)
The deal with the wine importer who manages over 30 percent of China’s wine imports was inked in 2017. This deal recognized that wine lovers are very sensitive and value authenticity. VeChain enables customers to validate and trace winery data from the producers, via the supply chain by using smart NFC chips in the wine bottles.
This has reduced the possibility of counterfeits in the market. Interestingly, D.I.G. is a government-owned subsidiary of Shanghai Waigaoqiao Free Trade Zone Development. This suggests that there could be more partnerships with the government in the future.
National Research Consulting Center (NRCC)
Headquartered in China, the NRCC offers management, standard, and IT consulting to firms looking for international standards and approvals. With over 1000 long-term enterprise clients, many of which are included in the Fortune Global 1000, NRCC uses VeChain to develop and implement anti-counterfeiting technology for some of its clients including the China National Tobacco Corporation.
Fanghuwang
Fanghuwang offers collateral-backed loans (property mortgage loans) to Small and medium enterprises in China and utilizes VeChain to create solutions to improve the way data is collected, stored, and shared. Fanghuwang has developed a Dapp called VeVid, which offers a Digital ID and KYC tool to companies on the VeChain blockchain.
ENN Energy Holdings Limited
This billion-dollar clean energy company works alongside Shanghai Gas Group and VeChain to create an LNG management solution. Utilizing Blockchain and IoT technology, the company can manage the quality assurance process for different types of natural gas. Furthermore, with more than 400 companies and branches in operation, the company is likely to expand its collaboration in the future.
DNV GL
In 2018, DNV GL, a global company that provides risk management and certification services confirming that an organization meets certain criteria, implemented VeChain’s first Dapp My Story. This is a digital assurance solution that targets the food and beverages industry based on audits and data collection.
NTT Docomo
The telecommunication giant with around $42 billion in assets, partnered with VeChain in 2018. The 4th largest telecommunication company in Japan, it is using VeChain to develop 5G technology, which hit the markets in 2020.
Recommended for you:
- Buy VeChain (VET) Guide
- VeChain (VET) Wallet Tutorial
- Check 24-hour VET Price
- More VeChain News
- What is VeChain?
Subscribe to our daily newsletter!
No spam, no lies, only insights. You can unsubscribe at any time.