VeChain will integrate their entire blockchain-based supply chain solution with both Bright Food (Group) Co. and Shanghai Xiandao Foods. Both companies share close business relations with the Shanghai Municipal Government, making this quite significant news.
The VeChainThor blockchain will be implemented in full throughout Bright Food’s supply chain, handling all data management systems. Such an undertaking would make VeChainThor an operational blockchain solution fit for use by state-owned and multinational enterprises on a large scale.
Bright Food operates 93 various Chinese domestic and foreign subsidiaries and posted revenue of just over US$25billion last year.
A statement reads:
Over the course of the partnership with VeChain, Bright Food will utilize VeChainThor for their supply chain management, data management, as well as explore new products and solutions utilizing cold-chain logistics and development tools for supply chain management. This will enable Bright Food to harmonize their data set, from their various branches, while managing, monitoring, and reporting on live and trust-proof data.”
Shanghai Xiandao Foods is considered a Bright Food subsidiary focusing on IT/Tech. They will contribute via collaborative research and development of VeChainThor itself.
Bright Food itself was designated as China’s national food company in 1950 by Jiang Zemin, the sitting President. If this partnership goes smoothly, VeChainThor could be designated as China’s national blockchain.
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