VeChain Teams Up with Global Logistics Giant DB Schenker

Global logistics giant DB Schenker is to launch a supplier evaluation system on the VeChainThor platform - the first of its kind, according to the Singapore-based blockchain.

VeChain has co-developed a dApp with DB Schenker, one of the world's leading logistics providers.

On top of other supply chain offerings, this solution tracks their third-party logistics partners performance.

VeChainThor will host a new decentralized application that monitors, tracks, and evaluates the performance of DB Schenker's third-party logistics providers in China.

Based on a range of collected data, the application is intended to allow DB Schenker to "To better evaluate the service of the suppliers."

"In the future, the system and its related applications can potentially evolve into a platform widely shared and co-constructed by a broad range of logistics service providers."

While VeChain's tracking and inventory-focused blockchain may not have legal ties to China, it appears to be honing its focus in on the East Asian nation, having signed a number of industrial partnerships and deals with the Chinese government in 2018.VeChain Work with National Level Government Body State Tobacco Monopoly Administration and China Central Government owned China National Tobacco Corporation, via exclusive partnership with National Research Consulting Center.

A subsidiary of German rail network Deutsche Bahn AG, DB Schenker offers logistics services in land, air, ocean, contract logistics and supply chain management.

"With extensive experience of over 50 years in China, DB Schenker today employs 5,700 logistics specialists in over 60 key cities across the country providing reliable and customized logistics services."

As VeChain continues to seduce enterprises with its Blockchain-as-a-Service platform, it will surely be celebrating the commitment of such an industry heavyweight as DB Schenker - who recorded multi-billion dollar revenue increases in 2017 alone.