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Last Updated on October 8, 2022 by Eddu Oz
VeChain recently processed over 700, 000 transactions within 3 hours for Walmart, showing the upside of the VeChain partnership. With the world moving towards a digital economy, VeChain, since its inception, is in a quest to bring about a paradigm shift in the world of the supply chain.
The ‘trustless’ data enabled by blockchain makes VeChain the pioneer of real-world blockchain applications and has attracted a lot of important VeChain partnerships towards sustainability, carbon management, supply chain & logistics, medicine, energy, and others.
Connecting blockchain technology to the real world, VeChain has been able to attract and establish a lot of partnerships with companies that are looking to implement blockchain technology in their running process.
We have listed 9 important VeChain partnerships that currently have VeChain deployed or are working towards it.
📌 VeChain is the pioneer of real-world applications using public blockchain technology.
📌 VeChain is the Layer 1 public Blockchain with the most enterprise adoption.
📌 VeChainThor public blockchain, an EVM compatible layer one smart contract platform, to adapt to wide-ranging real-world needs.
SEE ALSO: How To Buy VeChain On Binance
VeChain is a real-world blockchain application expert that aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration.
VeChain developed the VeChainThor public blockchain, an EVM-compatible layer one smart contract platform, to adapt to wide-ranging real-world needs.
The VeChainThor public blockchain has its uniqueness in the fact that its technologies have been adopted as solutions in different industries, both at enterprise and government levels.
9 Important Vechain Partnerships That are Turning the Tides
1. VeChain partnership with Walmart China
Walmart is an American multinational retail corporation famous for its chain of hypermarkets. Walmart currently is the largest grocery retailer in the US and China, and Walmart is among the top five grocery retailers.
Walmart China partnered with VeChain and launched the Walmart China Blockchain Traceability Platform in June 2019.
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Products are tracked using IoT and blockchain from the product line source to the retail stores using blockchain and the Internet of Things offered by VeChain, thereby offering customers a new level of trust and confidence in the products they buy.
2. VeChain partnership with DNV GL
DNV GL is an audit and certification company that is the world’s largest certifier of vessels and offshore structures to ensure they meet stated requirements. Their audit and certification services also extend beyond maritime, renewable energy, and oil & gas, to food & beverage as well as healthcare industries.
To this end, DNV GL and VeChain partnership came into existence to introduce blockchain solutions in providing assurance to its vast customer base. My Story is the digital assurance solution for the food and beverages industry due to this partnership.
3. VeChain partnership with OrionOne
OrionOne is a global supply chain technology solutions company. Through their logistics software available as a SaaS platform, they help companies to organize and manage supply chains, transactions, and supplier relationships throughout the journey of a product.
The integration of their technology with that of VeChain has accelerated blockchain adoption among logistics companies that use the services of OrionOne. This is because the partnership eliminates the need for investments by customer companies in network infrastructure or management of cryptocurrencies.
4. VeChain partnership with UFC
The premier mixed martial arts organization of the world, UFC, has recently announced a partnership with VeChain, making VeChain its first ever official Layer 1 Blockchain Partner. For both brands, it is a groundbreaking partnership when it comes to marketing benefits.
In exchange for what also includes meaningful global brand visibility over the 900 million estimated UFC TV broadcast household audience across 175 countries, VeChain will also be integrated into vital UFC assets.
5. VeChain partnership with BMW
German car manufacturer BMW is also in a groundbreaking client-based partnership with blockchain company VeChain to develop solutions to common problems associated with automobiles, such as odometer fraud which is a widespread issue in Germany.
The child of the partnership, the VerifyCar application, acts as a digital passport that allows users to monitor their odometer and maintenance reports.
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VeChain and BMW announced their partnership last year. It’s part of the BMW Startup Garage, where the car company works on future applications and technology for their cars. The two companies will keep working together on a client-based relationship.
6. VeChain partnership with LVMH
Moët Hennessy Louis Vuitton, LVMH is a French multinational group of companies that deals in luxury goods. LVMH houses many daughter companies, which are responsible for a number of famous brands such as Dior, Givenchy, Louis Vuitton, Marc Jacobs, and TAG Heuer.
Through the VeChain partnership, LVMH is integrating blockchain and IoT technology into their projects for easy verification if brand products are genuine or fake.
7. VeChain partnership with Cointelegraph Consulting
Preaching the VeChain gospel is Cointelegraph Consulting, a division of the most read cryptocurrency and blockchain website, Cointelegraph. The consulting entity helps small and large companies to understand all about blockchain technology and also assists in implementing it.
The VeChain partnership makes it easier for Cointelegraph Consulting to push public blockchain adoption using VeChain technology. The long-standing reputation of the firm makes it a fruitful partnership.
8. VeChain partnership with PriceWaterhouseCoopers (PwC)
Known also as PwC, PriceWaterhouseCoopers is an auditing company that ranks among the top 4 in the world. With PwC providing its auditing services to over 400 of the Fortune 500 companies, PwC is partnering with VeChain to bring blockchain-based product verification and traceability solutions to its large client base.
9. VeChain partnership with BYD
One of the world’s largest manufacturers of electric automobiles and batteries, BYD, aims to reduce CO2 emissions. VeChain developed a system implemented in eco-friendly BYD vehicles, allowing users to earn carbon credits.
The Chinese government’s carbon banking solution makes people and enterprises who have a big carbon footprint will have to pay for it using carbon credits. Those that reduce their carbon footprint, like the BYD vehicle users, will earn carbon credits which they can spend on products.
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