dChan - Q Origins Project Archive

To achieve its ambitious vision, VeChain has developed a powerful blockchain-enabled enterprise software platform. The VeChain platform enables manufacturers to assign products with unique identities, which then allow manufacturers, supply chain partners and even consumers to interact with the product through the platform. It uses blockchain technology to ensure the security of the data collected, allocating private keys to all participants within the supply chain.

A product on the VeChain platform is assigned a unique ID, which is stored simultaneously in the blockchain, and placed on the product with an NFC chip, RFID tag or QR code. At any point during the product’s life, the chip, tag or code can be interacted with, whether it’s a distribution or retail partner ascertaining batch membership, or a consumer learning more about a product’s provenance. The company envisages a broad range of applications, including brand protection, anti-counterfeit, and food safety.

In just two years, VeChain have already worked with a number of clients across various consumer product industries, including wine importing where Direct Imported Goods (DIG), China’s largest importer of fine wines, have placed one million bottles of wine on VeChain’s platform to counteract the huge issue of fake wine in the country, through to fashion and luxury accessories, food production and automotive supply chain management with Renault. The company has a number of partnership announcements in the pipeline.