• Reportedly, the VeChain Foundation has become a part of the APAC Provenance Council. The APAC Provenance Council’s vision is to offer effective solutions to ensure the quality of the products through blockchain-tech.
• Furthermore, their main initiative is the building of a solution backed by blockchain-tech for the food supply chain in the Australian-China trade.
• CEO and co-founder of VeChain, Sunny Lu, brought to attention that VeChain is positioning itself as a blockchain project that focuses on providing real-time solutions

Reportedly, the VeChain Foundation has become a part of the APAC Provenance Council. The APAC Provenance Council’s vision is to offer effective solutions to ensure the quality of the products through blockchain-tech. Hence, it owns the responsibility to ensure the complete traceability of the food supply chain and others in the Asia-Pacific region.

According to reports, VeChain became the sole public protocol of the APAC Provenance Council. Further, their main initiative is the building of a solution backed by blockchain-tech for the food supply chain in the Australian-China trade. Also, the VeChain Foundation owns the responsibility for the implementation of its blockchain in diverse industries. 

The @ApacCouncil is established to facilitate the Australia-China food trades by deploying #blockchain technology. As the sole public blockchain protocol in the consortium, #VeChain is enabling its partners & clients with VeChain ToolChain.https://t.co/UR6hpaWLsg

— vechain (@vechainofficial) May 6, 2020

VeChainThor:  only blockchain protocol of the consortium

Furthermore, it has come to light that VeChainThor is going to be the only blockchain protocol of the consortium. High efficiency, the financial ecosystem in the nearby constituents in the food industry is what the consortium is aiming for. 

It is worth throwing light on the fact that the initiative complies well with the “National blockchain Roadmap”. In February this year, the Australian Government had published The National Blockchain Roadmap. Mainly to address challenges and to leverage opportunities across a wide number of industries. 

VeChain repositions itself as a blockchain project: VeChian CEO

CEO and co-founder of VeChain, Sunny Lu, brought to attention that VeChain is positioning itself as a blockchain project that focuses on providing real-time solutions. He also added that it is to empower their partners with blockchain technology to deploy business applications across various sectors. Lastly, he stated that as an overall outcome it will improve productivity by bringing in diverse resources and growth opportunities.

In addition, this deal signifies VeChain’s confirmation of its position as a blockchain project in Asian and Chinese regions.

Umme Haani