After a tweet on Thursday night by DropChain founder Billy Chan, speculation began circulating about a possible partnership between the two companies.
What is DropChain?
DropChain is a project designed to solve many issues with data management, product verification, and supply chain optimization, with a focus on the food and beverage industry. This is an area that VeChain has put a strong focus on, and is keen to continue developing. Currently, DropChain is operating as a business-to-business (B2B) wine and alcohol seller in Shanghai.
To date, they have developed relationships with numerous craft beverage brands in Australia and New Zealand, providing those companies with a method of entering the lucrative Chinese market. DropChain provides support with selling, and gives these brands access to data and transparency within what can be a very complex supply chain and importation process.
What does a partnership with VeChain offer?
VeChain’s experience in the B2B markets combined with their multi-layer blockchain technology can vastly simplify DropChain’s platform development. Aside from their standard platform, they are in the process of completing their blockchain-based minimum viable product, which they plan to test on the VeChainThor platform over the next few months. In September of 2018, the two companies tested a proof of concept, setting the groundwork for future collaboration. If everything goes well, they could give VeChain a valuable resource in developing the Australia and New Zealand region, while providing on-chain data and transactions to further enrich the ecosystem.
You can read more about DropChain here.
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