Institutional blockchain solution widely adopted by F100 corporations

Since launch, VeChain has successfully helped over 50 corporate clients in implementing Blockchain-as-a-Service.
VeChain works with leading supply chain companies including BMW, Walmart China and BNV GL to bring trust and transparency to corporate clients through public blockchain adoption.

Сase Studies

MY STORY™

Showcasing product data
to consumers

Counterfeit spirits and wine cost European countries €2.7 billion each year.

My Story™ brings instant access to key product characteristics such as authenticity, ingredients, as well as water and energy consumption, all verified by DNV GL.
By scanning a QR-code, consumers can see the product’s full history.

Customer
loyalty boost

Major Italian winemakers Ricci Curbastro, Torrevento, and Ruffino onboarded products, complete with data on soil, weather, additive use, tank operations, bottling and transportation processes to increase product differentiation while boosting customer loyalty.

Walmart China

Building a trustful supply
chain for food safety

Food safety is a top priority issue. On a global scale, over 600 million people fall ill each year after eating contaminated food. To mitigate the risk, Walmart tripled its spending on food safety to $48 million in 2013–2015 in order to enhance transparency on the origin of products.

Through the technical support of PwC and VeChain, Walmart China has built the proprietary food safety traceability platform on the VeChainThor Blockchain, which motivates Walmart China’s vast network of independent suppliers to take part by synchronizing their data with local government traceability platforms, while applying unique packaging to be displayed in Walmart China's nationwide retail locations.

Of total meat sales tracked by Walmart China’s entire traceability system

By the end of 2020, Walmart China’s entire traceability system will see traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, traceable seafood will account for 12.5% of the total sales of seafood.

BMW

Designing digital
passports for cars

33% of second hand cars in Germany have manipulated odometers. Total damage to Germany’s economy is around $7.5 billion every year.

VeChain and BMW co-created a digital passport platform for vehicles. Each BMW car is assigned with a unique ID that allow end-customers to verify the authenticity of auto data.

In annual benefits can be saved for BMW when the solution is fully rolled out*

The VerifyCar app allows BMW and its customers to check vital information about a particular vehicle. It decreases fraud losses and adds value to the life of the vehicle by making the secondhand market more trusted.

*According to Cointelegraph forecast

D.I.G.

Ensuring
authenticity of wines

In a five-month stint in 2019, Chinese authorities reportedly seized nearly 65,000 counterfeit bottles, worth over $4 million.

VeChain and D.I.G created the Wine Traceability Platform (WTP) to record the life cycle of the products. Every bottle of wine is assigned with a unique ID, allowing shoppers to verify its genuineness and trace its path in the supply chain.

According to D.I.G., products on the Wine Traceability Platform have achieved a 10% increase in sales for the first batch of WTP-powered products.

Technology Review

What are VeChain technology advantages?

Speed and Scalability

Proof of Authority is fast. With 10 second on average block times and industry-leading confirmation algorithms, transactions can be completed on the blockchain quicker than ever. With the dynamic gaslimit on VeChainThor, the blockchain scales up to where it’s needed.

The mainnet posted a record 129 TPS over a 24-hour period, scaling its gaslimit up to 64,000,000 — 6.5 times the size of decentralized applications on public B2C networks.

Easy Migration

Compatibility with other EVM-powered public chains makes transitioning to VeChain smooth.

Working with Deloitte’s EMEA blockchain lab, DNV GL converted the digital ISO and safety certificates of over 100,000 enterprise clients from the Ethereum blockchain to the VeChainThor mainnet, achieving average writing speeds of over 20 transactions per second in the process.

MTT — Multi-task Transactions
Pack up to 500 transactions into one simple operation, simplifying your business processes.

Governance

From the beginning, VeChain recognized the importance of governance. It created a consensus model led by 101 KYC-compliant Authority Masternodes made up of leading companies, institutions and reputable organizations.

This allows VeChain to be decentralized while maintaining the ability to rapidly implement core upgrades, ensuring it will always remain at the forefront of innovation.

Meta-Transactions and Fee Delegation

Fee Delegation
This protocol allows network fees to be paid by someone other than the primary user — freeing users from the complexities of blockchain.

Around 95%–98% of transactions on the VeChainThor mainnet use VIP-191 & MPP (Multi-Party Payment), indicating DApp or enterprise usage.

Rapid Deployment

Blockchain and IoT should be easy. VeChain’s suite of applications, tools and APIs make it simple to implement into existing ERPs and CRMs.

For larger needs, integration with AWS or Microsoft Azure makes managing your cloud computing a painless experience.

VeChain Presence

VeChain currently operates out of seven offices located in Shanghai, Singapore, Paris, Luxembourg, Palo Alto, Tokyo and Hong Kong, with the international professional team of over 100 staff members including over 50 professional blockchain application developers.

Interested in Exploring VeChain?

Get in touch with Cointelegraph Consulting to learn more

Joint Report

coming soon

When Blockchain meet IoT: Ensuring Food Safety in the 2020s

Cointelegraph Consulting and VeСhain jointly published a report on how to ensure food safety in th 2020s. It describes the blockchain-based solutions solving the issues of data integrity and transparency in the food industry.

Available Shortly