VeChain has added yet another partner to their growing list, joining hands with Chinese consumer electronics giant Haier and risk management company DNV GL to improve transparency in the supply chain.
The Singapore-based blockchain platform has added a major company to their network, with Haier described as the biggest home appliances brands in the world and a reported 40 billion in annual revenue.
It is thought that Vechain will partner on Haier’s, “Internet of Clothing” (IoC), a networked laundry solution connecting the smart washing machine, laundry rack and folding machine. According to reports, Haier IoC will use VeChain’s traceability application, My Story, and it will be used to verify products, prevent fraud, track carbon footprints and more.
According to VeChain,
“My Story is an off-the-shelf blockchain based digital assurance solution…combining deep industry expertise of prominent industry leaders, and DNV GL, with independent physical audits, data collection, and verification services.”
Haier is looking to bring environmental concerns and modern, forward thinking technology into one with their IOC. Its IoC initiative is designed to make household products such as washing machines more environmentally friendly. The ecosystem is vast, connecting shoppers, retailers and appliances. Haier described the project, saying,
“[The platform] now works with more than 4,800 apparel resources to integrate washing machines, smart wardrobes, dressing mirrors, ironing machines and more to offer customers a smart solution covering washing, fabric care, storage, matching and shopping.”
VeChain has continued to expand its scope. A lot of the recent success is down to DNV GL who bought a stake in VeChain as part of its plans to raise trust and transparency through digital solutions, in 2018.