Partnering with key companies across various industries, such as Kuehne & Nagel, PwC, and Groupe Renault, VeChain aims to expand its reach and provide tailored solutions to meet industry demands.
Walmart China’s collaboration with VeChain on the Walmart China Blockchain Traceability Platform has demonstrated the practicality of blockchain in monitoring temperature-controlled products during transit.

Enterprise-grade Layer-1 smart contract platform VeChain has its key focus on enhancing the processes. The VeChain blockchain allows consumers and retailers to determine to ensure transparency and authenticity of products.

The VeChain blockchain has established partnerships with a number of businesses and enterprises that have been using its blockchain technology. VeChain has partnered with some of the top companies across industries which has helped them expand their footprint as well as build unique solutions as per industry requirements.

It’s essential to acknowledge that as time goes on, an increasing number of companies are embracing digital assets. This trend could significantly benefit VeChain and the VET cryptocurrency. Let’s take a look at some of the key partnerships of VeChain in the industry.

1. Kuehne & Nagel

Kuehne & Nagel, a leader in the supply chain and logistics industry, has been a valued partner since September 2016. With an impressive annual revenue of $22.4 billion, Kuehne & Nagel is the largest global freight forwarder, overseeing approximately 15% of the world’s air and sea freight revenue.

In a strategic move, Kuehne & Nagel China has leveraged VeChain’s cutting-edge blockchain technology to enhance its operations. This innovative approach aims to bring greater transparency and efficiency to parcel and asset management while providing customers with a seamless and transparent tracking experience.

2. PriceWaterhouseCoopers (PwC)

PriceWaterhouseCoopers (PwC), a renowned leader in the audit and advisory industry, has been a valued partner since May 15, 2017. With an impressive annual revenue of $37.7 billion, PwC stands among the top four auditors globally. The firm boasts a prestigious client roster that includes industry giants like IBM, Ford, Dell, Cisco, 3M, and over 400 Fortune 500 companies.

By integrating VeChain’s advanced blockchain solutions, PwC extends its capabilities to offer clients the means to effortlessly verify and trace the origins of their products. This innovation not only enhances transparency but also bolsters credibility for prospective partners interested in engaging with VeChain. PwC’s adoption of VeChain’s technology underscores its dedication to providing cutting-edge solutions to its extensive client base and fostering trust in the world of business.

3. Groupe Renault

Groupe Renault, a prominent player in the automotive industry with an impressive revenue of $67 billion, has been in partnership with VeChain since July 25, 2017. As a multinational automobile manufacturer based in France, Groupe Renault earned its place as the ninth-largest automaker globally by production volume in 2016.

In a collaborative effort with Microsoft and Viseo, VeChain has developed an innovative digital car maintenance book that boasts unparalleled tamper-proof features. This groundbreaking technology empowers vehicle owners to securely share immutable data about their cars, such as mileage, particularly when they intend to sell their vehicles.

4. VeChain and Walmart China

VeChain has joined forces with Walmart China to establish the Walmart China Blockchain Traceability Platform, a robust system underpinned by the VeChainThor Blockchain. The initial announcement coincided with the introduction of the inaugural 23 product lines that underwent testing and were subsequently launched on this cutting-edge platform.

Last year in 2022 after going public, the VeChain blockchain processed more than 700,000 transactions for Walmart in just three hours. Earlier this year, the two players further extended their partnership to cover more products and categories within their supply chain.

Leveraging VeChain’s IoT and blockchain solution, Walmart China can effectively oversee temperature-controlled products throughout their entire transit journey. This sophisticated capability plays a crucial role in mitigating the risks associated with spoilage and contamination, ultimately enhancing food safety measures.

In order to further push ahead the use of VeChain’s blockchain technology, it has joined hands with some of the top-tier educational institutes. VeChain is conducting a hackathon at Harvard University offering a prize reward of 200,000 VET to the winner.

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Filed under: Bitcoin - @ October 8, 2023 8:18 am