VeChain empowers Canadian partner to achieve successful CBD traceability to revolutionize billion-$-market
VeChain and Micromation Inc, a Canadian firm has partnered to advance asset traceability.
VeChain has continued to advance its reach as an enterprise-grade smart contract protocol.
VeChain (VET) is expanding its global influence as an enterprise-grade blockchain protocol following its latest integration by Micromation Inc, a Canadian IT service management company. The news was publicized by the revered member of the VeChain community Eisenreich who highlighted that Micromation has built a Proof-of-Concept (PoC) using the protocol for its traceability advances.
According to details shared by the firm, Micromation tapped into the technological advances of the VeChain ToolChain protocol to design the PoC. As revealed, the VeChain ToolChain will grant access to integrate GS1 US standards for product identification and traceability, ensuring a transparent and reliable supply chain for CBD products.
According to the update shared by the protocol, the Proof-of-Concept developed is a way to showcase the powers of blockchain technology in transforming the Cannabis as well as the medical substance industry.
The deployment of the technological prowess of blockchain has been embodied by the VeChain in many high growth billions dollar industries. From the Carbon management ecosystem to the global supply chain, VeChain can be customized to fuel the productivity inherent in these industries in different economies around the world. The protocol said in a statement:
At VeChain, we understand the critical importance of ensuring product quality and safety in these industries. That’s why we’ve designed VeChain ToolChain to be a flexible and customizable solution that can meet the unique needs of any supply chain. With #VeChain ToolChain, companies can track products from farm to table, ensuring transparency and accountability at every step of the way.
VeChain is expanding its influence and is calling on every enterprise or innovator within the medical substance industry to consider integrating the solution from Micromation Inc in the tracking of their product.
The VeChain Tech Advantage
VeChain as a protocol is arguably one of the oldest layer-1 protocols that is focused on powering enterprise adoption. The protocol started as a private consortium chain in 2015 and within that time, it has grown to become the 36th biggest digital currency by market capitalization.
While it may lag behind other mainstream protocols like Ethereum (ETH), Cardano (ADA), and Solana (SOL) in terms of its number of Decentralized Finance (DeFi) and Non-Fungible Token (NFT) applications, VeChain surpasses most of its competitors as it concerns real-life use cases.
Per an earlier report by Crypto-News Flash, VeChain was also featured in a paper where the role of Ethereum in global supply chain management was highlighted with specificity hinged on the Greek Olive industry. The role of VeChain was also highlighted in the Carbon management ecosystem as it aims to foster the digital sustainability revolution.
VeChain has also filed for a patent as it looks to double down on its innovation in the Internet of Things (IoT) industry.
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Filed under: Bitcoin - @ March 19, 2023 9:46 am