VeChain Launches Blockchain-Based Sustainability Solution To Digitize Sustainable Practices
VeChain Launches Blockchain-Based Sustainability Solution To Digitize Sustainable Practices
August 24, 2020
VeChain Launches Blockchain-Based Sustainability Solution To Digitize Sustainable Practices
VeChain Launches Blockchain-Based Sustainability Solution To Digitize Sustainable Practices
August 24, 2020

VeChain, the blockchain-based traceability platform, has launched its blockchain-based sustainability solution aimed towards companies looking to digitize their sustainable practices. 

It has been reported that part of its blockchain-as-a-service (BaaS) platform ToolChain, VeChain promises that the solution can streamline sustainable practices during the supply chain and manufacturing process and also showcase these practices to third parties like regulators.

However, VeChain said that the tool provides immutable proof of a green supply chain and can cover different stages of manufacturing.

It can also store information on recycling, processing, reusing, and inspection, allowing brands to trace original sources of goods and raw materials. 

Since it’s on the blockchain, VeChain said that all data would be trustworthy and consistent across the supply chain. It can even cut costs on reporting for government regulations, rating services for sustainability, and a green brand image and attestation services for responsible financing.

ALSO READ :  PBoC To Test Digital Yuan On Meituan Dianping’s Food Delivery Platform With 435 Million Users

Thus, VeChain said that research from the World Economic Forum showed companies face higher risks as demands grow for transparency on sustainable activities as well as the direct impact of climate change.

Source: Cointelegraph | Image: AiThority


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!