VeChain(VEN) and DB Schenker Collaborate to Leverage Blockchain for Logistics Industry 14483
News
Sharat Chandra
Jun 13, 2018 at 9:01 PM

VeChain(VEN) is a global leading blockchain platform for products and information. In the past two years, VeChain has accumulated a significant amount of experience in providing blockchain solutions to various industries including liquor, auto, luxury goods, pharmaceuticals, retail, logistics, supply chain, food and cold storage, etc.

VeChain Foundation utilizes blockchain technology continuously and works towards optimization and value addition to the scope and development of their VeChainThor platform. To build a platform with holistic capabilities, VeChain Foundation’s strategy is to incorporate the world’s best service providers, goods distributors, and global experts into their platform’s ecosystem to secure the integration of business processes.VeChain has collaborated with DB Schenker, one of the world’s leading global logistics providers, to introduce pioneering solutions to the logistics industry.

DB Schenker is the transport and logistics unit of Deutsche Bahn. It has a vast network of over 68,000 logistics experts in 2,000 locations. DB Schenker offers complete supply chain management solutions, efficient air, ocean, rail, and land transport as well as contract logistics in various geographies.

The Medium post put out by  VeChain Foundation states,"DBSchenker has developed a supplier evaluation system with VeChainThor platform. This is the first time that Blockchain is used for supplier management purposes. VeChainThor blockchain scores the business partners based on collected data and allows DB Schenker to better evaluate the service of the suppliers. In the future, the system and its related applications can potentially evolve into a platform widely shared and co-constructed by a broad range of logistics service providers."

On 8th June, VeChain Foundation announced that INPI Asia and ITP had signed an exclusive deal with Jakarta's national government and private sectors. These entities validate data and documents via the VeChainThor Blockchain using their proprietary dApps KryptoCloud, DocKrypto, and KryptoMobile.

By leveraging blockchain, VeChain Foundation intends to fundamentally disrupt the logistics industry and create an ecosystem on the grounds of trust, transparency, and camaraderie.

Image via Medium

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