• Market Cap
    $1,831.954B -9.54%
  • POW Market Cap
    $1,290.142B -1.74%
  • POS Market Cap
    $171.853B -5.96%
  • Masternodes Market Cap
    $5.096B -10.80%

VeChain enters Into Tripartite Strategic Partnership

By Rafał - 2019-04-03

The VechainThor blockchain will soon become the core driver of the COSMOPlat enabling members to interact with a platform that has tokenized clothing lifestyle utilizing Internet of Things.
This is sequel to the April 1 “Global Release of the Achievements of COSMOPlatIndustrial Internet Eco Brand Platform” hosted by Haier at the Hannover Exhibition Center where the company showcased its latest partners among whom are businesses in related and diverse areas of operation.
At the event, the General Manager of VeChain Europe, Jerome Grilleres presented a tripartite agreement between the platform, Haier Washing Machine Company and DNV GL.
The partnership has the objective of making clothing lines traceable through integration with the VeChainThor blockchain utilizing Digital Carbon Ecosystem (DCE).
Signing Ceremony
Signing Ceremony at Hannover Messe 2019. On the left: Luca Crisciotti; in the middle: Mr. Zhang Weijie; on the right: Mr. Jerome Grilleres, source: Vechain medium
The drive behind the partnership is the deployment of My Story™ which was co-developed by Vechain and DNV GL for you in clothing industry.
DCE and Haier IoC would play important roles as the first clothing lifecycle management ventures that would be incorporated into the new technology.
The first practical application is integrating all aspects of the clothing lifecycle into the blockchain ensuring that they can be accessed through smart shopping through built-in ecommerce system on the innovation.
According to a blog post by the Vechain team, its advantages though many includes inventory management, smart shopping and tracking using the Vechain blockchain.
Each of the partners in the tripartite agreement have functions that is expected of them. Haier is responsible for coordinating its user resources in “facilitating the deployment of VeChainThor Blockchain-based My Story™ in the clothing industry through Haier IoC,” according to the post. The partners boast that the cooperation will enrich and promote a carbon efficient lifestyle.
DNV GL would act as an independent entity providing consultations services to VeChain and Haier regarding process control, business model and technical interfaces.