Understanding VeChain’s relationship with Microsoft Azure and Amazon Web Services (AWS)

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For the average investor, few names command more attention than a member of FAAMG (Facebook, Apple, Amazon, Microsoft, and Google). So when the community saw pictures of Microsoft Azure and VeChain co-hosting an event at PwC’s office in Singapore, it left many scratching their heads as to what it actually meant. Since not all of us are Computer Science majors, let’s take a closer look at what this actually means.

What is a partner?

The cryptocurrency community has somewhat abused this word over the last few years, tossing it around and raising expectations in the hope of gaining a few extra investors along the way. Slowly the word partner has become to hint at exclusivity and anything less than that is likely to trigger mass confusion.

The reality is that many tech companies have hundreds of partners, spread across different fields and serving different purposes. AWS and Microsoft Azure are perfect examples, as competing cloud computing companies, it is their goal to offer as many products and services to their customers as possible. In this manner, they can convince companies to use their services for all their business needs: such as internal company networks, customer databases, data storage, analytics, ERP systems (Think HR and Finance software, inventory and supply chain management software, other business planning software) and whatever other needs a business might have. The costs of all this is quite high, with Azure contributing more to Microsoft’s bottomline than the departments in charge of Windows or Office.

So why is VeChain’s partnership with the two largest cloud computing companies significant?

A pessimist might say it’s a lot like saying 7-11 is partnered with Coke, since they sell the product there. They might point to the fact that both AWS and Azure are blockchain-agnostic, and feature other blockchains like Hyperledger, Corda, and Ethereum. You could even argue that VeChain’s integration is just an install on a preconfigured virtual server, and nothing to write home about.

But before you stop reading, consider what this means for both sides. For starters, cloud services are incredibly expensive, with Flexera’s 2019 State of the Cloud reporting that half of all enterprises participating in the survey spent more than $1.2 million dollars on cloud services in the previous year. For small and medium-sized businesses, around 49% spent more than $120K over the same time frame. That means these companies can be really aggressive in pushing their services to clients, which is what we saw in summer, when China’s AWS clients all received an email about VeChain and DNV GL in their inbox.

Both Azure and AWS would really love for their clients to begin developing blockchain solutions powered by VeChain, since it could make them quite a bit of money in the process. And with 84% of companies using a multi-cloud strategy in 2018, there is real urgency to encourage clients to deploy on their cloud, before the competition beats them to it.

That’s one of the main reasons why companies like Azure and AWS are keen to educate their enterprise clients about the benefits of public blockchains. They know that blockchains are an emerging technology which enterprises are spending freely on through research and early prototyping. They also recognize that by supporting VeChain in the education process, they can start unlocking another incredibly lucrative market.

And that’s how we found ourselves at the event co-hosted by Microsoft Azure and PwC on the 14th of November. A number of Azure’s major clients turned up to listen to speeches on how VeChain’s public chain technology was being used by companies like BMW, Wal-Mart China, PwC, DNV GL, PICC, Dai-Nippon Printing, Reebonz, and Fresh Supply Co. VeChain was able to demonstrate the wide range of utility a public blockchain could have, while showing off VeChain’s unique features that make enterprise adoption easy compared to other public chains. And thanks to good feedback from the event, VeChain and Azure are already exploring more opportunities to hold similar workshops in other countries around the world.

Furthermore, VeChain’s integration with these big cloud service providers is an essential step in gaining mass adoption. Existing Azure clients don’t have to worry about switching cloud service providers, and can use quick deployment to do fast prototyping while receiving quick, reliable, and global computing power for a blockchain solution powered by VeChain. These solutions are convenient to start, since cloud-based solutions don’t require any additional hardware purchases, are easy to scale upwards or downwards, and are part of a global network that will be consistent regardless of whether the project starts in a major region like North America or somewhere smaller like Singapore.

Take the case of Reebonz, who are developing a VeChain-powered C2C trading platform for luxury goods. Even if they preferred one cloud over the other, it would still be easy for them to deploy VeChain’s backend solutions on their existing account. Making it easy for enterprises is the ultimate goal, and one that VeChain is slowly succeeding at.

https://twitter.com/Sarah_Nabaa/status/1194931428795928576

So What Should We Expect?

If you are already heading over to VeChainstats.com to check for updates, you may be disappointed. Corporations don’t react very quickly, and require a lot of patience throughout the development process. Still, educating clients becomes so much easier when AWS and Azure begin carrying the torch. Credibility is at an all-time high, as it would be incredibly unlikely for Azure to push a solution that they didn’t see any real-world value in. The impact should be felt over the long-term, as we accelerate the process of on-boarding clients and come closer towards the realization of VeChain’s grander vision – a world where VeChain exists as one of the top global blockchain infrastructure providers, delivering value to users, clients, and token holders alike.

Thanks to MiRei for his technical contributions to this article.

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VeChain and OpenNodes Bring Blockchain to the Singapore FinTech Festival

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The Singapore FinTech Festival takes place from November 11th through the 15th, advertised as one of the largest FinTech exhibitions in the world. It showcases the innovations of a number of large financial institutions, such as DBS, Standard Chartered, Bank of China, as well as national pavilions from countries like Canada, Japan, France, and Germany. It’s hard to ignore the growing influence of blockchain solutions, as the technology becomes more and more an integral part of the FinTech Scene.

This year’s blockchain pavilion was hosted by OpenNodes, a Singaporean blockchain ecosystem consisting of investors, government agencies and civil servants, enterprise leaders and solutions providers like VeChain. Established by the Infocom Media Development Authority of Singapore and Tribe Accelerator, OpenNodes brings together companies like BMW, Ernst & Young, PwC, IBM, and Intel to help connect blockchain use-cases with real world application.

OpenNodes is an impressive result of Singapore’s thriving blockchain culture mixed with progressive regulatory structure and corporations willing to work with local companies and startups. The “Hyperconnected Singapore Blockchain Ecosystem” organizes events for blockchain companies to interact with top enterprises, allowing the technology to develop and mature in a structured and supported environment.

As the only public blockchain with an enterprise-grade approach to supply chain solutions, this gives VeChain an important opportunity to explore and optimize the depth of their solutions. Throughout the week, VeChain’s team had the opportunity to show off their solutions with corporate and organizational delegates, other exhibitors, and around 45,000 other visitors to the week-long event.

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How Can Blockchain Incentivize Recycling? DNP Group Collaborate on Eco-Friendly PoC

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In an interview with DNP’s Junichiro “John” Yamashita, Lead Researcher for DNP Group, we learned about their recycling initiative developed on the VeChainThor Blockchain.

John from DNP Group discusses how blockchain can be used to encourage sustainable consumption practices.

DNP group is a multinational printing company from Japan. With over 10,000 employees, they have a diverse range of services that includes printing, packaging, decorative materials, electronic components, and information media supplies.

Recently I spoke with John, and he shared his vision for using blockchain for something new: social good. He talked about how DNP’s massive quantity of products and overall size was a major contributor to global waste, inspiring the team to look for innovations that encourage more sustainable waste management. As the manufacturer of around 1/3 of Japan’s plastic bottles, DNP hopes to make a substantial difference in consumer’s waste management habits. That’s how they came up with the idea for Time for Social Good, a collaboration in Singapore with VeChain and local franchise Coffee Break.

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According to John, the goal of the PoC was to show how blockchain can be used to incentivize recycling. Since the lining of disposable coffee cups can’t be separated from the actual paper, coffee cups are un-recyclable and end up in landfills, along with the plastic lids. Time for Social Good encourages coffee drinkers at Coffee Break in Singapore to remove and recycle the plastic lids before discarding the paper cup (Cold drinks sold in all-plastic cups can be recycled as well). They do this by having each cup tagged with a unique QR code linked to a blockchain ID. Users can scan the QR code, upload a selfie of themselves recycling the lid, and get rewarded with a Social Good Point. If users received 7 points during the two-week event, they would earn a bamboo flask (shown below) which entitles them to a discount on future trips to Coffee Break.

John praised blockchain for its ability to engage with consumers in an affordable way. Rather than having to install costly IoT waste bins to monitor recycling habits, DNP and Coffee Break can simply set up inexpensive collection boxes, or just use existing recycling bins. Blockchain’s ability to verify products is just the first step, with so many unexplored ways to extend the technology still to be discovered.

These inexpensive collection points gamify and promote the initiative for a fraction of the cost of IoT smart waste management solutions.

John believes that scattering collection points around the Ascent Building gamifies the experience, giving consumers the chance to earn Points by referencing a map connected to the QR code. By challenging shoppers to complete tasks, blockchain can catch the attention of consumers who might ordinarily be unmotivated to complete the recycling process. It also provides a verified record of the actions, allowing multiple businesses to interact in a trustless environment.

The Ascent Building is in Singapore’s Science Park, a premier hub for technology companies and businesses.

While the Proof of Concept was quite limited in both time and resources, the results were quite encouraging. More than 10% of Coffee Break’s customers took the time to recycle their plastic waste, a significant number when you consider the annual waste of a coffee chain. Just to gauge the potential here, it’s estimated that in America for example, people consume 400 million cups of coffee per day. Not surprisingly, the Proof of Concept attracted a lot of attention both in Singapore and Japan, where it was recognized at demo days to show off the innovative spirit of the corporation.

The Proof of Concept received immediate recognition at DBIC Demo Day in front of 100+ executives from dozens of companies in Tokyo.

For Coffee Break, more than 80 customers completed the 7-cup challenge and received their bamboo flask, proving that blockchain-based recycling initiatives can be a valuable marketing tool. Without needing a huge budget, blockchain can encourage repeat customers attracted to your brand’s promotions and commitment to social responsibility. Every interaction is a chance to engage with customers, providing a massive value in itself.

In the interview, John also discussed how he was introduced to VeChain through an event organized by the Digital Business Innovation Center (DBIC). VeChain’s Jason Rockwood and Sarah Nabaa had been presenting to a group including Sumimoto Life Insurance, when they were approached by the CEO of DBIC, who invited the pair to come speak to five Japanese corporations in Singapore to source blockchain solutions. At that meeting, they met John, and discussed various ways that blockchain could be mixed with sustainability initiatives. DNP is eager to integrate new technologies, especially ones that can impact the globe in a positive way.

John (middle) pictured with VeChain COO Kevin Feng (left), Sarah Nabaa, Ben Yorke (back) and Project managers Perkins Chen and David Wang (right)

For companies like DNP, blockchain is an area that requires a lot more exploration. Blockchain is well-known for the benefits it brings to finance and supply chain, but in reality there are many more complex use cases waiting to be discovered. Fortunately, guys like John are putting time into researching and evaluating how blockchain can not just be used for businesses, but also to improve environmental initiatives and contribute to social good.

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When Street Meets Tech: VeChain NFC tags used in Singapore’s Premier Streetwear Festival

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Street Superior, Singapore’s biggest streetwear event, took place November 2-3 at *SCAPE, featuring big brands such as Vans, Under Armour, and Swatch, alongside independent artists and designers from all over the world. The festival focused on “The Art of Customization” with competitions, workshops, and demonstrations from top foreign and local artists. This year, Street Superior took customization one step further, by showcasing a line of collaboration merchandise with event partners. These products were all chipped using VeChain’s NFC technology, which was used to showcase the story behind the brands, artists, and Street Superior itself.

Guests learned more about the story behind the custom snekers

Custom sneakers were a main attraction, which is why Australian community group The Kickz Stand was in attendance, bringing along Australian designers Chase Shiel and Grail Crew Customs. Together they created unique designs for the event, with each pair having an NFC chip sewn under the tongue. Visitors who scanned the product with the VeChain Pro app could verify the products, and check out photos, video, and data about the creation process of the item.

Being able to share the story behind a custom sneaker is invaluable for independent artists and creators, it was great to be a part of the process here at Street Superior. Jay Mijares – Co-Founder @ The Kickz Stand

Sarah Nabaa (VeChain) stands with members of The Kickz Stand, Chase Shiel, and Grail Crew Customs

For those needing refreshments in the Singapore heat, Whiskey maker Copper Dog was selling cocktails and a limited edition collaboration bottle with local artist Russel Ong. 100 bottles were made in total, each featuring a VeChain NFC chip on the custom bottle label. Each bottle came with an engravable copper dipper, a homage to the brand’s past where the original Speyside producers would steal whiskey from the distillery using a copper pipe with a penny welded to the bottom in order to avoid taxes.

It was important for Street Superior to take the Limited-Edition Series further, not only through facilitating an artist collaboration. In addition to ensuring the bottles’ proof of authenticity, conveying the brand story of the artwork and its craftsmanship was imperative. This could only have been established and made possible by Street Superior using VeChain ToolChain, a simple way to develop applications running on the VeChainThor Blockchain. Jonathan Fong, Co-Founder @ Street Superior

A new addition to Street Superior this year was a custom toy collection from brands like Flab Slab and Whale Rabbit. These brands sell handmade art collectibles, designer toys, and original creations around the globe, making them a major target for counterfeiters. By using ToolChain, these artists are able to thwart counterfeiters by linking the product to a verifiable record on a public blockchain. They are also able to share photos and videos, giving life to the complex background stories many of these toys have. Flab Slab and Whale Rabbit tend to push out inventive and somewhat unorthodox creations, making this extra media a valuable inclusion in the product design.

I think a huge advantage is the added content, these days the added content helps to explain the story a lot easier. Rather than just certifying the product, you can tell the story of the product as well. Jeffrey Koh – Founder @ FLAB SLAB

We are proud to have partnered with VeChain to have this verified. It helps a lot with the tracking of where our products actually lead to. It’s important to us because we have incidents of our products being faked in foreign markets. We are excited to take this to the next level, so we can see how implementing VeChain into the products can really benefit us. Isaac Leon – Founder @ Whale Rabbit

Visitors to the event were impressed by the technology, and excited to be able to learn more about the design and authenticity of their products. For fans, there is no doubt that basic blockchain integration allows them to shop with confidence, learn more about unique items, and even empower a thriving resale market. More complex blockchain integration offers even more benefits, an area that creators and artists will wish to explore.

Now, the pressure is on the industry to adapt. Artists at the event discussed the problems the industry faced not just from counterfeiters, but from designers themselves. Without any oversight or viable means of tracking, artists are free to produce as many “limited editions” as possible, a practice that erodes trust from consumers. While this might cause some in the industry to resist change, the general reaction indicates that consumer demand will reward artists who focus on the benefits that transparency, traceability, and being able to differentiate their products will bring them.

Special thanks to all the partners who took the time to speak to VeChain101. We encourage everyone to check them out and follow them on social media!

Street Superior: https://www.instagram.com/street.superior/
The Kickz Stand: @thekickzstand
Chase Shiel: https://www.instagram.com/chaseshiel/
Grail Crew Customs: https://www.instagram.com/grailcrew_customs/
Big Big Con: https://www.instagram.com/bigbigconsg/
Flab Slab: https://www.instagram.com/flabslab/
Whale Rabbit: https://www.instagram.com/whalerabbitofficial/
Copper Dog Whiskey: https://www.instagram.com/copperdogwhisky/

Learn more about using ToolChain on VeChain’s official website.

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China’s Big Announcement Simplified – 5 Key takeaways

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Editorial by Ben Yorke – October 28, 2019

It was hard to miss the impressive market rebound by a number of projects affiliated with China this weekend. Tokens like VET, NEO, ONT, IOST and others all had double-digit resurgences, most likely buoyed by the news that China was taking a more active stance on the development and adoption of blockchain. But for a non-Chinese investor, what exactly does this announcement mean?

#1 Blockchain, not Bitcoin

President Xi’s big announcement was in no way an endorsement of cryptocurrencies. Blockchain can have a number of applications beyond just being a ledger for digital tokens, especially in a country that was never particularly bothered by decentralization of power. By running a network of private nodes, China could create their own blockchains suitable for a number of needs, including financial, health, and other public services. While it wouldn’t have the true immutability of a public chain, it would be a lot cheaper, support a higher throughput, and give authorities total control of the on-chain data.

So how will public cryptocurrencies play into this? It’s extremely unrealistic to expect China to cede control of important data to a public chain. The PBoC will not be settling transactions in XRP, nor will the State Taxation Administration be accepting payments in Bitcoin Cash. According to Xi’s latest speech, China is looking for solutions in the following fields: Education, employment, pension, poverty alleviation, medical industry, anti-counterfeiting, food safety, public welfare, social assistance, smart cities, information infrastructure, smart transportation, energy and power, and urban management. Not surprisingly, they left out any mention of gambling dApps, ICOs, cryptokitties, or Craig Wright.

#2 The BaaS is King

Some chains are better poised than others to take advantage of the surge in development. Enterprises and private companies will be looking to add blockchain to their list of technologies, and many of them will go searching for someone to build that for them. VeChain, being already approved by the CAC, has a number of Blockchain-as-a-Service solutions already online that fit the bill. As the underlying technology for Walmart China’s Food Safety platform, VeChain has already been used to track vegetables, rice, and other food products from the farm to several regional stores. Currently that solution is being optimized, as Walmart aims to make it easier for suppliers to verify their products. Even better, anyone can have access to similar tools using VeChain’s ToolChain platform, a BaaS that allows individuals or companies to upload product IDs, verify supply chains, and track other key IoT data.

The Low Carbon Ecosystem, which rewards users for saving energy and using alternative transportation methods is another example. Partners BYD, PICC, and DNV GL should help really push this initiative throughout China’s commercial system, as more clients clamor to become both blockchain and eco-friendly. A third example is a partnership with ENN and Shanghai gas, which is developing a blockchain solution to increase efficiency at one of the largest liquified natural gas industrial parks in China.

#3 So are other Cryptocurrencies worthless in China?

Well, if the team isn’t already actively working in China to build solutions that improve productivity or social welfare here, it’s probably not getting any adoption. With that in mind, when it comes to blockchain, all roads eventually do lead back to Bitcoin. A new wave of blockchain research, development, and coverage in the media will help educate a new chunk of society on the benefits of distributed ledger technology. I expect blockchain events to get more attention and see higher attendances, which should translate into more people buying tokens as an investment. Already, we’ve seen media platforms like The People’s Daily run a large graphic entitled “What is Blockchain?” The section dedicated to Bitcoin noted that Bitcoin was merely one application of the technology, and that ICOs and tokens based only on marketing were still risky and illegal. Still, this constant media attention won’t go unnoticed, and many newcomers should still get brought in. Tokens who are able to carefully balance the line between marketing and utility should be able to grow their communities over the next few months. The bigger question should be whether projects can turn short-term attention in the media into sustainable business development.

#4 Why is China doing this now?

Political initiatives rarely happen by accident in China. With Libra being such a hot-button topic in the media, it is impossible for China to sit on the sidelines. And since the two countries are in somewhat of an information technology cold war, it would be unwise to ignore a technology that has the potential to dominate key areas of finance, commerce, and logistics. Being seen as an innovative country is important, since there are many global disputes about allowing Chinese companies to supply 5G networking technology, most of them being US-led. And as of today, the message seems to be working. Most prominent cryptocurrency personalities have made it clear how they feel regarding the way the two global superpowers are doing business with blockchain.

 

https://twitter.com/ErikVoorhees/status/1187904709031391232

 

 

#5 So it this all just a political powerplay?

Whether the answer to that question is yes or no, the fact remains that China is very good at implementing sweeping changes. Just walking around one of China’s cities, it’s impossible to not notice how electronic payments, mobile technology, automated services, eCommerce, electric vehicles, last-mile delivery, shared transportation, and many other key technologies have streamlined the country in the last decade.

A shared bicycle is left behind a charging electric SUV.

I strongly expect that the next few years in China should see the announcement of hundreds of blockchain partnerships, research groups, MoUs, and PoCs. Filtering the worthwhile from the worthless should be a challenging task for even the most savvy of investors, and a hidden danger lies in the fact that projects will now have more competition and pressure to start snapping up the market. From a business development standpoint, when the market is flooded with small, less-capable blockchain projects, the effect can be overwhelming. It’s important that the leading public chains distinguish themselves, otherwise they may lose a lot of business to private services provided by Alibaba, Tencent, Baidu, and other established tech giants.

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