VeChain and Deutsche Bahn Team Up to Solve China’s Logistics Industry
VeChain (VEN) has teamed up with global logistics provider DB Schenker to developed a blockchain-based supplier evaluation system, according to a Medium post by the VeChain Foundation today.
Using the VeChainThor blockchain, DB Schenker’s will be able to rate third-party logistics partners in China to evaluate for services such as packaging, transportation, and the quality of goods – like a Yelp for logistics providers.
As the first DApp for supplier management purposes, VeChain was quoted in the post:
“In the future, the system and its related applications can potentially evolve into a platform [that is] widely shared and co-constructed by a broad range of logistics service providers.”
DB Schenker, a subsidiary of Deutsche Bahn, manages supply chain options for air, ocean, rail & land transport, and contract logistics. The firm employs 68,000 logistics experts in 2,000 locations globally, with almost 6,000 based in China.