- VeChain has expanded the boundaries of enterprise innovation with its strategic collaborations over the years.
- Kuehne & Nagel, PwC, and the Renault Group remain its biggest partners to date.
VeChain (VET), a blockchain platform designed to revolutionize the supply chain industry is at the forefront of reshaping industries through high-impact partnerships that are poised to transform various sectors.
Here are 12 of the most crucial partnerships it has inked in the past few years.
Kuehne & Nagel
One of VeChain’s earliest and most remarkable collaborations, inked in 2016, is with Kuehne & Nagel, a global leader in the supply chain and logistics industry.
By leveraging blockchain technology, Kuehne & Nagel China enables real-time tracking of parcels and assets, enhancing transparency and efficiency in the supply chain process.
PriceWaterhouseCoopers (PwC)
In 2017, VeChain partnered with PwC, one of the world’s top auditing firms, to implement blockchain solutions for its extensive client base. Together, they offer comprehensive blockchain solutions tailored to clients’ specific needs, ranging from supply chain optimization to anti-counterfeiting measures.
This collaboration provides clients with enhanced product verification and tracing capabilities lends credibility and facilitates future partnerships for VeChain within the industry.
Direct Imported Goods (D.I.G)
Addressing the issue of counterfeit products in the wine industry, VeChain partnered with D.I.G in 2017 to enable consumers to verify the authenticity of wine through blockchain-enabled NFC chips. This collaboration not only ensures product integrity but also hints at future partnerships with government entities.
Groupe Renault
Teaming up with French automotive giant Renault, VeChain developed a tamper-proof digital car maintenance book in 2017. This innovative solution enhances data integrity and opens doors for further collaborations within the automobile industry.
Republic of Cyprus
Partnering with the government of Cyprus through Invest Cyprus, VeChain is driving innovation in blockchain solutions for government services and investment operations.
This collaboration demonstrates the protocol’s commitment to facilitating policy reforms, leveraging blockchain technology for societal advancement, and attracting foreign investments.
UFC
In 2022, VeChain became the UFC’s first official layer 1 blockchain partner, allowing it to reach a global audience of millions.
This cooperation goes beyond branding opportunities, giving UFC players access to marketing activities and VIP incentives, demonstrating VeChain’s versatility beyond standard supply chain applications.
Walmart China
VeChain’s collaboration with retail giant Walmart China aims to revolutionize food safety and supply chain management.
By utilizing VeChain’s IoT and blockchain solutions, Walmart can monitor temperature-controlled products in transit, reducing the risk of spoilage and contamination while ensuring the highest food safety standards.
National Research Consulting Center (NRCC)
With a focus on anti-counterfeiting technology, the protocol collaborates with NRCC to implement blockchain solutions for clients, including the China National Tobacco Corporation. This partnership highlights VeChain’s versatility in addressing diverse industry needs.
Fanghuwang and VeChain
Fanghuwang, a provider of collateral-backed loans to Small and Medium Enterprises (SMEs) in China, utilizes VeChain to improve data management and sharing processes.
Through the development of VeVid, a Digital ID and KYC tool, VeChain empowers companies to streamline operations and enhance trust in the lending process.
DNV GL
Implementing VeChain’s digital assurance solution, My Story, DNV GL enhances transparency and trust in the food and beverage industry. This collaboration underscores VeChain’s commitment to ensuring product authenticity and quality.
ENN Energy Holdings Limited
Partnering with VeChain and Shanghai Gas Group, ENN Energy develops LNG management solutions using blockchain and IoT technology. With a focus on quality assurance, this collaboration paves the way for future advancements in clean energy management.
NTT Docomo
In collaboration with NTT Docomo, one of Japan’s leading telecommunications companies, VeChain is developing 5G technology solutions. This partnership showcases VeChain’s versatility in leveraging blockchain for technological innovation beyond traditional supply chain applications.
Overall, the blockchain network and its partners are spearheading innovation in blockchain technology, reshaping industries, and driving towards a more sustainable future. Currently, VeChain’s token (VET) is trading $0.02987, up by 2% in the past 24 hours with market capitalization pegged at $ 2 billion, and a trading volume of $37 million.
