VeChain presented a platform for tracking export products in Europe at an exhibition in Shanghai. Next year, China plans to sign a major trade agreement with the EU, under which a distributed registry will be used in deliveries.
VeChain and blockchain for EU: “Cooperation, which so far is only a good prospect, will require the use of modern technology. The mood of China, which plans to transfer most of the state documentation to the blockchain, speaks of the emergence of new opportunities thanks to a distributed registry. We are going to create a universal network designed to process information on deliveries in large volumes” – VeChain representatives said.
The first EU partners in deliveries can be ASI Group and DNV GL. Previously, they had already signed contracts for the supply of beef from France. Negotiations on the conclusion of a future deal should begin in December.
The platform may be called VeChainThor, since the corresponding trademark has already been registered. Against the background of the announcement of a major partnership program with Europe, VeChain cryptocurrency quotes increased by about 50 percent. Project details should appear closer to the end of this year.