VeChain scores new partnership and becomes a member of one of the most powerful global operating associations

  • Laava’s partnership with VeChain will unlock new business applications and the use of blockchain in the global supply chain.
  • VeChain has also partnered with OrionOne to provide businesses a seamless onboarding experience to the blockchain.

VeChain, the blockchain network that specializes in providing decentralized supply chain solutions, has formed a new partnership with Sydney-based Laava. This Sydney-based firm has built its own Smart Fingerprint technology that seeks to provide an alternative to QR Codes.

As Laava explains: “Smart Fingerprints turn products into connected products – enabling consumers to authenticate and engage with them at point of purchase and beyond”. A recent partnership has been formed between Laava and VeChain Tech, which is a global leading enterprise-friendly blockchain firm.

VeChain Tech seeks to provide blockchain-based solutions for real-world business needs. Before its recent partnership with Laava, VeChain Tech had established partnerships with some of the other leading businesses such as Walmart China, Bayer China, BMW Group, BYD Auto, PICC, Shanghai Gas, LVMH, D.I.G, ASI Group.

By partnering with Laava, VeChian also becomes part of the APAC Provenance Council. It is a Cross-continental Food Supply Chain & Finance Consortium. Both Laava and VeChain have yet to share the full details on how these two players shall be working together in the future.

But Laava has partnership programs with multiple industry players which could give VeChain Tech exposure to solving supply chain challenges using blockchain for different industrial sectors.

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OrionOne announces VeChain integration

OrionOne, which has also partnered with Laava has recently announced VeChain integration. As a result, OrionOne’s best-in-class logistics platform will integrate with VeChain’s blockchain application VeChain ToolChain which will help them offer logistics companies a seamless onboarding experience to the blockchain platform.

In the next five years, the supply chain industry will grow to $42 billion a year. The rapid expansion poses major challenges to logistics companies. However, digitization of the supply chains and innovation using blockchain technology is the only way out. Speaking on the development, Tommy Stephenson, CEO of OrionOne said:

When it comes to blockchain and supply chain, there’s only one game in town, and that’s VeChain. No other entity can compete with their low-cost, rapid deployment, and ease of use. We’re excited to integrate their blockchain into our products to bring VeChain to a wider network of clients.

Interestingly, VeChian has also been looking to expand its footprint in new technological developments such as the Metaverse. VeChain has been set up for the metaverse with the likes of ExoWorlds and other partnerships. The team behind the project has also launched “VeChainHasNFTs”, an all-inclusive community meant to advance the interest of the VNFT ecosystem.

About Author

Bhushan is a FinTech enthusiast and holds a good flair for understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In his free time, he reads thriller fictions novels and sometimes explores his culinary skills.

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