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- Established companies engaging in high-impact partnerships are pivotal to VeChain’s growth and the widespread adoption of its blockchain solutions.
- Particularly noteworthy are the billion-dollar entities operating within the logistics and supply chain sector among VeChain’s key collaborators.
VeChain, crafted to optimize the supply chain process by incorporating traceability, transparency, and carbon management solutions, recognizes the importance of collaboration in the intricate realm of supply chain management.
With a focus on addressing supply chain challenges and streamlining information management for businesses, VeChain has actively engaged in partnerships with a diverse network of over 300 enterprise allies. This article delves into 12 impactful collaborations poised to bring about transformative changes across various industries.
1. 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.
2. PriceWaterhouseCoopers (PwC)
In 2017, PriceWaterhouseCoopers (PwC), one of the world’s leading auditors among the top four, formalized an agreement with VeChain. Thus, the collaboration outlined PwC’s integration of VeChain’s blockchain solutions into its extensive client portfolio. This integration also aimed to empower PwC’s clients, including industry giants such as IBM, Ford, Dell, Cisco, and 3M, as well as over 400 Fortune 500 companies, to verify and trace their products effectively.
Beyond the technical collaboration, PwC committed to offering credibility and facilitating introductions for companies interested in forging future partnerships with VeChain. This strategic alliance further positioned VeChain as a preferred blockchain solution provider within PwC’s influential network.
3. Walmart China
Over the past few years, VeChain and Walmart have collaborated closely, and their partnership has recently witnessed expansion, according to CNF reports.
Leveraging VeChain’s IoT and blockchain solution, the Chinese division of Walmart can now monitor temperature-controlled products during transit. This capability is also instrumental in mitigating the risks of spoilage and contamination, thereby enhancing food safety standards. Walmart commends VeChain’s blockchain technology for its efficiency, security, and transformative impact on the entire supply chain industry.
4. UFC
In 2022, a groundbreaking agreement was reached as VeChain became the inaugural official layer 1 blockchain partner of the UFC. This strategic alliance means that VeChain will gain exposure to approximately 900 million TV households across 175 countries.
As part of this collaboration, VeChain also gets access to UFC’s cutting-edge facilities, fostering the development of corporate activities and events. Fans are in for a treat with VIP sweepstakes promotions, providing them with exclusive opportunities to attend major UFC events. Additionally, UFC athletes stand to benefit from an annual Brand Ambassador fund, creating significant paid marketing prospects for the participating athletes.
5. Groupe Renault
The collaboration with the renowned French automotive giant Renault was established in 2017. In conjunction with Microsoft and Viseo, VeChain played a pivotal role in creating a digital car maintenance book that boasts tamper-proof features. This innovative solution enables car owners to securely share tamper-proof data about their vehicles.
This collaboration not only underscores the robustness of blockchain technology but also paves the way for potential future partnerships within the automotive industry.
6. Republic of Cyprus
Taking a progressive step, VeChain has entered into a partnership with the government of Cyprus. More specifically, VeChain is collaborating with Invest Cyprus, the government’s dedicated partner for engaging with Foreign Investments. VeChain’s involvement extends to the development and implementation of cutting-edge blockchain solutions.
Within this partnership, the VeChain team is actively contributing to the formulation of policy reforms that promote the use of blockchain as a foundational infrastructure for various government services and investment operations.
7. Direct Imported Goods (D.I.G)
In 2017, a significant agreement was reached with Direct Imported Goods (D.I.G), a prominent wine importer overseeing more than 30 percent of China’s wine imports. Acknowledging the discerning nature of wine enthusiasts who highly value authenticity, this partnership leverages VeChain’s capabilities to empower customers in validating and tracing winery data throughout the supply chain. Smart NFC chips embedded in the wine bottles play a crucial role in this process.
By implementing VeChain’s technology, the likelihood of counterfeit products in the market has substantially diminished. Notably, D.I.G. also operates as a government-owned subsidiary of Shanghai Waigaoqiao Free Trade Zone Development, indicating the potential for additional collaborations with governmental entities in the future.
8. National Research Consulting Center (NRCC)
Based in China, the NRCC serves as a hub for providing management, standardization, and IT consulting services to companies seeking international standards and approvals. Boasting a client base of over 1000 long-term enterprises, many of which feature in the Fortune Global 1000, NRCC harnesses VeChain’s capabilities to develop and implement anti-counterfeiting technology for select clients, including the China National Tobacco Corporation.
9. Fanghuwang
Specializing in collateral-backed loans, particularly property mortgage loans for Small and Medium Enterprises (SMEs) in China, Fanghuwang has integrated VeChain into its operations to enhance data collection, storage, and sharing processes. The company has introduced a decentralized application (Dapp) named VeVid, leveraging VeChain’s blockchain, to provide companies with a Digital ID and Know Your Customer (KYC) tool.
10. ENN Energy Holdings Limited
As a prominent billion-dollar clean energy company, ENN Energy Holdings collaborates with Shanghai Gas Group and VeChain to develop an efficient liquefied natural gas (LNG) management solution. Employing blockchain and Internet of Things (IoT) technology, the company can oversee the quality assurance process for various types of natural gas. With a vast operational network comprising more than 400 companies and branches, ENN Energy Holdings is poised for potential expansion in its collaboration with VeChain.
11. DNV GL
In 2018, DNV GL, a global entity offering risk management and certification services to validate organizations against specific criteria, implemented VeChain’s inaugural decentralized application (Dapp) called My Story. This digital assurance solution further focuses on the food and beverage industry, utilizing audits and data collection for enhanced transparency and reliability.
12. NTT
Docomo Partnering with VeChain in 2018, NTT Docomo, a telecommunications giant with assets totaling approximately $42 billion, engaged in the development of 5G technology using VeChain’s capabilities. As the fourth-largest telecommunications company in Japan, NTT Docomo also successfully introduced 5G technology to the market in 2020.