While most coins are trying to find solutions for a variety of industries, Vechain has its focus set on the bringing blockchain and cryptos to the logistics sector. And its hard work and focus seem to have paid off as Vechain finds itself on the partner wall of DHL’s Asia-Pacific Innovation Centre (APIC) in Singapore.
VechainThor’s DApp and DHL partnership could bring blockchain to logistics
The news of the partnership with DHL shared by Sarah Nabba, Country Manager for Singapore at VeChain Tech where she said the DHL center provides an immersive experience to clients by introducing new solutions from both established co. & startups and the Vechain would look for collaborations with DHL.
This could prove to a really good news for the project as DHL is one of the biggest names in logistics globally. It would also provide Vechain to grow under DHL’s guidance at the Innovation Centre and may get a chance to collaborate on a variety of projects in the logistics space.
DHL Asia-Pacific Innovation Centre is first of its kind in Asia-Pacific. This SGD$10m facility is DHL’s first innovation center outside of Germany and the first dedicated center for innovative logistics services in the Asia-Pacific region. Launched with the support of the Economic Development Board (EDB) of Singapore, the APIC showcases futuristic technologies that will transform logistics operations.
VeChain is continuously working on its business model of Blockchain-as-a-Service (BaaS) provider that targets enterprise-level businesses. Vechain had recently had announced that it has co-developed a blockchain-based supplier evaluation system with global logistics provider DB Schenker. This new decentralized application (DApp) will use the VeChainThor blockchain to score DB Schenker’s third-party logistics partners in China based on collected data – the result being an evaluation for services such as packaging, transportation, and the quality of goods.
The Vechain Foundation claims that the DApp is the first ever implementation of blockchain for supplier management purposes
“In the future, the system and its related applications can potentially evolve into a platform [that is] widely shared and co-constructed by a broad range of logistics service providers.”
Logistics sector has significant roadblocks which blockchain can provide a solution to. Blockchain has potential to rehaul the logistics and supply chain industry by providing the tamper-proof tracking of products is being recognized by an increasing number of global industry giants, among them Maersk, IBM, and FedEx, as well as South Korean electronics leader Samsung and Walmart. Understanding this space well, Vechain is making its move correctly towards mending this problem.
Technology can actually make things better for the logistics sector and blockchain and Vechain is just here to do that. Blockchain does have a potential to fundamentally change the logistics industry and Vechain would look forward to cooperating with more industry players building a logistics ecosystem based on mutual construction, trust, collaboration, and benefit.