VeChain is undoubtedly one major blockchain project gaining recognition and adoption in different industries. For background purposes, the blockchain project has collaborated with big and respectable firms across the globe.
Few days back, VeChain (VET) announced a partnership with Bright Foods (Group) Co., a group of company with approximately $25 billion annual revenue, which also doubles as China’s second largest food manufacturing firm.
The partnership also involves Shanghai Xiandao Food, a significantly owned subsidiary of Bright Food which is a wholly owned subsidiary of the Shanghai Municipal Government.
What the Partnership is Bringing Forward
Through the partnership, Bright Foods will be using VeChainThor Blockchain to make its entire supply chain management and data management systems sophisticated to be able to control and monitor its products lifecycle from crop to retail.
Remember, Bright Food has a global firm managing 93 diverse Chinese domestic and foreign subsidiaries with four publicly listed companies generating approximately $25.3 billion (￥160 billion RMB) revenue.
At the moment, VeChain has announced that a product of Bright Food, Cupids Farm Milk, is now the first product to go live on BrightCode, a VeChainThor Blockchain Solution set to be deployed by millions.
The “Cupids Farm” milk brand going live on VeChainThor Blockchain solution opens Bright Foods to integrating the VeChainThor Blockchain into its supply chain and inventory wholly.
BrightCode is All-encompassing.
BrightCode, which survives on available and authentic data collated by IoT devices and some other services offered by authenticated firms like DNV GL and PICC, is creating a distinct business idea that makes uses of blockchain, third-party assurance and IoT.
It is AI and big data Enabled
Through the AI and big data powered BrightCode, firms have the opportunity to monitor entire lifecycle of their products, while also collating realtime data, and at the same time storing the collected data on the VeChainThor Blockchain.
There is no doubt that other firms are looking up to integrating BrightCode to have a well-monitored supply chain. The idea is to be promoted to other industry beyond the food and beverage industries.
One other areas where the innovation will work perfectly is the healthcare and auto parts where there products are usually not monitored for counterfeits.