VeChain partnerships 2024

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By Crypto Vibe

Are you curious about the incredibly growing hype around VeChain? We can relate to your thoughts. This article will walk you through all the details you need about VeChain to help you take the next step.

What Is VeChain?

VeChain is a new public blockchain that has entered the crypto market as a smart-contract-compatible platform to boost the mass adoption of blockchain technology.

VeChain

What Company Owns VeChain?

VeChain was introduced by Sunny Lu – the former CIO of Louis Vuitton China in 2015. The public blockchain started as a subsidiary of one of China’s largest blockchain companies Bitse.

Who Has Invested in VeChain?

The list of VeChain investors is mentioned below.

  • DNV GL
  • PriceWaterhouseCoopers (PwC)
  • National Research Consulting Center (NRCC)
  • Yida China Holdings Limited
  • BitOcean
  • China National Level Partnership
  • Direct Imported Goods (D.I.G)
  • China Unicom
  • Kuehne + Nagel
  • DB Schenker
  • BMW Group
  • LVMH
  • Groupe Renault
  • Fanghuwang
  • iTaotaoke
  • Bright Food
  • LogSafer
  • Shanghai eGrid Consulting Co. LTD
  • NTT Docomo
  • People’s Insurance Company of China (PICC)
  • BYD
  • SBTG Surplus & Co
  • ENN Energy Holdings Limited
  • Republic of Cyprus National Level Partnership
  • Fuji MARUMO Tea
  • Baijie Teng IoT Technology Corporation
  • BIOS Middle East
  • Reebonz Holding Limited
  • Fashion for Good
  • Haier
  • Norway in a Box
  • Walmart China
  • ASI Group
  • Anhui Tea Industry Association
  • Cointelegraph Consulting
  • Shanghai Gas
  • PlatformXChain
  • H&M
  • Sarah Regensburger

What Platform Supports VeChain?

VeChain previously ran on the Ethereum platform. However, it switched to its own (rebranded) VeChainThor blockchain in 2018. If we speak about exchanges, the most popular supporting platforms are Binance, KuCoin, gate.io, and HTX (Huobi).

Does VeChain Have a Good Future?

Based on recent price prediction statistics, VeChain has a good future and may have its value of VET increased by +5% by 2030, reaching $0.03716.

VeChain

List of VeChain Partnerships

Here, we have covered the updated list of VeChain partnerships in 2024 with the details of each.

DNV GL

DNV GL is a global organization that provides audit and certification services based on compliance requirements. The popular DNV GL projects include renewable energy, oil and gas, food and beverages, and healthcare goods. DNV GL and VeChain have developed My Story – a digital assurance platform for the food and beverages industry.

PriceWaterhouseCoopers (PwC)

PwC is among the biggest four global auditors with services spread across 400+ Fortune 500 companies. The most prominent clients of PwC are IBM, Ford, Dell, Cisco, and 3M. PwC will offer VeChain’s blockchain powered solutions to its client base for improved product verification.

National Research Consulting Center (NRCC)

NRCC is a China-based top-rated IT consulting and management company that helps in the professional development of domestic companies and organizations. The company offers services to 1000+ Fortune Global 1000 enterprises. NRCC and VeChain have implemented anti-counterfeiting technology for the China National Tobacco Corporation.

Yida China Holdings Limited

Yida is among China’s biggest real estate development companies with core expertise in smart city development and industrial parks. VeChain is supporting Yida in enhancing its technology portfolio in domains like energy management.

BitOcean

BitOcean is a platform that provides ATM solutions for buying and selling cryptocurrencies. It is one of the first exchanges to become fully licensed by Japan’s Financial Services Authority (FSA). BitOcean and VeChain will collaborate to offer ATM-based VET buying and selling.

China National Level Partnership

The Chinese government developed Gui’an New Area as a zone for economic development and the center of high-tech industries. VeChain’s partnership with the government is focused on promoting the blockchain-powered processes for the government.

Direct Imported Goods (D.I.G)

D.I.G is China’s government-owned wine importer that contributes to over 30% of the country’s wine imports. Partnering with VeChain will help D.I.G to authenticate winery data from the producers and stop counterfeiting attempts.

China Unicom

China Unicom is a state-owned telecommunications operator in China. It is the world’s fourth-largest mobile service provider in terms of subscriber base. VeChain will help China Unicom using BaaS to improve the overall efficiency of its supply chain management.

Kuehne + Nagel

Kuehne + Nagel is the world’s largest global freight forwarder. It accounts for almost 15% of the global air and sea freight business by revenue. Kuehne & Nagel will rely on VeChain’s blockchain technology to equip parcels (especially luxury goods) with a smart chip (containing ownership data).

DB Schenker

DB Schenker is a division of Deutsche Bahn AG (German rail operator) having a logistics division for air, land, and sea freight. Partnering with VeChain has enabled DB Schenker to build a supplier evaluation platform on the VeChainThor blockchain.

BMW Group

BMW is a renowned German car and motorcycle manufacturer, with vehicles across every global country. The BMW-VeChain partnership is focused on using blockchain technology for storing vehicle data and to ensure its controlled provision to third parties.

LVMH

LVMH or Louis Vuitton is a French multinational luxury goods conglomerate with nearly 60 daughter companies. VeChain is working with multiple LVMH brands for blockchain and IOT integration into their projects.

Groupe Renault

Groupe Renault is a French automobile manufacturer on a global level. It is the ninth biggest automaker in the world based on production volume. Partnering with VeChain has enabled the automaker to build a tamper-proof digital car maintenance book for foolproof buying and selling experiences.

Fanghuwang

Fanghuwang is a Chinese property mortgage loan provider for small and medium businesses in the country. Partnering with VeChain will help Fanghuwang to develop solutions for improved data collection and sharing.

iTaotaoke

iTaotaoke is a content sharing website that serves as an open platform for self-publishers and content providers to build knowledge-sharing workshops and monetize their content. Partnering with VeChain enabled iTaotaoke to digitally identify content created on the platform.

Bright Food

Bright Food is a Chinese national food brand. It is the second-largest food company in the country. The partnership between Bright Food and VeChain aims to improve the company’s supply chain management and the exploration of new products using cold-chain logistics and robust development tools.

LogSafer

LogSafer is one of the leading supply chain risk management platforms in China with 2500+ corporate clients. The company will adopt VeChain’s technology to collect real-time information about shipped items for improved risk control and efficiency.

Shanghai eGrid Consulting Co. LTD

Shanghai eGrid Consulting is a data services provider for large enterprises in China. The company’s prominent clients include SAIC Volkswagen Automotive Co. LTD, BYD Auto Co. LTD, and SAIC General Motors Corporation LTD. Partnering with VeChain will help eGrid in leveraging secured data storage and blockchain distribution in their current internal solutions.

NTT Docomo

NTT Docomo is one of the largest telecommunication companies in Japan with over 53 million customers. Partnering with VeChain aims to facilitate both companies in adopting 5G technology.

People’s Insurance Company of China (PICC)

PICC is one of the biggest insurance companies in China with major insurance categories like motor vehicle and property insurance. PICC aims to use VeChain’s blockchain technology to digitally transform its procedures.

BYD

Build Your Dreams (BYD) is the world’s largest manufacturer of electric automobile and batteries. Partnering with VeChain has helped BYD in allowing its users to earn carbon credits from Eco-friendly vehicles.

SBTG Surplus & Co

SBTG Surplus & Co makes sneaker designs for brands like Nike, Reebok, and Puma. The brand has implemented VeChain technology by embedding NFC chips inside the shoes to ensure product authenticity.

ENN Energy Holdings Limited

ENN is among the largest clean energy distributors in China. The company’s partnership with VeChain is focused on LNG management solutions via blockchain and IoT technology.

Republic of Cyprus National Level Partnership

The government of Cyprus is keen on working with foreign investors to ensure local blockchain implementation. Partnering with VeChain will facilitate the government make crypto investments for various projects.

Fuji MARUMO Tea

Fuji MARUMO Tea is a famous Japanese tea brand with a tea garden history of over 90 years. By collaborating with VeChain, the tea company will verify products using NFC chips embedded in the packaging.

Baijie Teng IoT Technology Corporation

Baijie Teng IoT Technology is a developer of printed RFID tags used for anti-counterfeiting applications. Collaborating with VeChain will help the two companies to explore how graphene and blockchain technology can be used for anti-counterfeiting goals.

BIOS Middle East

BIOS Middle East is a leading cloud service provider in the UAE with a client base of over 300 companies. The partnership between BIOS and VeChain is focused on developing advanced security systems in the UAE using blockchain technology.

Reebonz Holding Limited

Reebonz holds a credible status for its online luxury sales in Southern East Asia. The company aims to develop a digital product tag with the help of VeChain for product traceability and management.

Fashion for Good

Fashion for Good is a highly innovative company for incorporating technologies into the fashion world for improved sustainability. The company’s partnership with VeChain is aimed at using digital tags for products to ensure transparency.

Haier

Haier is the global leader in consumer home appliances with a 10% global market share.The company partnered with VeChain to use blockchain and IoT technology in the lifecycle of clothing management.

Norway in a Box

Norway in a Box is a company that aims to bring the country’s quality food to the rest of the global regions. The partnership between Norway in a Box and VeChain will be focused on tracking seafood product details using blockchain technology.

Walmart China

Walmart is a multinational American retail corporation popular for its hypermarkets. Walmart China, with the help of VeChain, created a product traceability platform to enhance customer trust and confidence.

ASI Group

ASI Group is a freight forwarder with 11 locations in 6 countries. Working with VeChain helped ASI Group to build a blockchain-based platform for buyers and consumers of high-end food products.

Anhui Tea Industry Association

The Anhui Team Industry Association affiliates stakeholders in the tea industry of the Anhui province. With VeChain’s technology, the association aims to improve traceability and supply chain management in the tea industry.

Cointelegraph Consulting

Cointelegraph Consulting is a cryptocurrency and blockchain platform that helps companies understand and implement blockchain technology. The company is promoting blockchain adoption among businesses using VeChain’s technology.

Shanghai Gas

Shanghai Gas is a Chinese company that produces, distributes, and sells natural and liquefied gas. It is using VeChain’s ToolChain for tracking delivery information and to monitor LNG quality.

PlatformXChain

PlatformXChain is a Singaporean company that works with toy manufacturers to track products and collectibles. The company has partnered with VeChain to create a marketplace for brand owners to list their toys and sell them with authenticity.

H&M

H&M is the second-largest global clothing retailer with more than 5000 stores around the globe. The brand’s subsidiary Cos is using VeChain’s technology to collect supply chain data for some product lines and share the details with its customers.

Sarah Regensburger

Sarah Regensburger is a renowned fashion designer for sustainable goods. The brand is using VeChain’s technology for product traceability in the handmade production domain.

Importance of Partnerships

Why Are Partnerships Important?

Partnerships play a crucial role in spreading a brand’s message. In the case of VeChain, these 39 partners are using this blockchain technology to establish a win-win mechanism. It is an effective strategy to help the blockchain platform gain recognition in consumer circles around the globe. The partner companies from diverse industries are helping in promoting VeChain’s credibility and efficiency across corporate and domestic sectors.

Strategic Partnerships With Walmart China

In 2019, Walmart China launched the Walmart China Blockchain Traceability platform. This project helped in tracking products from 23 different categories using blockchain technology. It was a strategic move to offer customers a new way to establish trust in the products offered by the retail chain. Walmart China also aims to track 50% of packaged meat, 40% of vegetables, and 12.5% of seafood using VeChain’s blockchain technology.

VeChain

How Many Companies Use VeChain?

VeChain’s blockchain technology is adopted by 39 companies as of 2024. The number may increase based on the platform’s popularity status.

What Company Owns VeChain?

VeChain was introduced by the former CIO of Louis Vuitton Sunny Lu as a subsidiary of Bitse (one of China’s largest blockchain companies).

Did VeChain Partner With Amazon?

VeChain partnered with Amazon in 2022 to facilitate their VeCarbon platform.

Is Walmart Using VeChain?

Walmart China is using VeChain’s blockchain technology for product traceability and to enhance customer trust in the retail store’s products.

FAQs

Is VeChain a Chinese Coin?

VeChain was founded by a Chinese executive Sunny Lu in 2015. He was the CIO of Luis Vuitton in China.

What App Supports VeChain?

Sync2 is an efficient wallet designed for VeChain blockchain. It allows you to send and receive digital assets easily and in a secure way.

What is Similar to VeChain?

The similar blockchain platforms to VeChain include Ethereum, Corda, Kaleido, and Coinbase Institutional.