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DB Schenker and VeChain pioneer in the use of blockchain for the logistics industry

DB Schenker and VeChain pioneer in the use of blockchain for the logistics industry (Shanghai, June 12, 2018) DB Schenker in cooperation with VeChain, a blockchain platform offering Blockchain-as-a-Service to enterprises, has developed a third-party supplier evaluation system via blockchain. By collaborating with third-party logistics providers in China, DB Schenker, one of the world’s leading logistics service providers, is able to offer extensive and seamless logistics solutions across China for any industry and trade. However, the immense potential of such a comprehensive logistics network is challenged by the complexity of measuring the performance and service quality of their business partners. The VeChainThor blockchain scores DB Schenker’s business partners based on collected data and allows DB Schenker to better evaluate the service of the suppliers.

This is the first time that blockchain is used for supplier management purposes in the logistics sector. 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 enhancing the speed and service quality of the industry. VeChain pioneer About VeChain

VeChain Foundation is a blockchain platform offering Blockchain-as-a-Service to enterprises. By leveraging on blockchain technology, VeChain Foundation continuously aims at optimizing and adding value to the scope and development of their VeChainThor platform. In order to create a platform with holistic capabilities, VeChain Foundation’s approach is to include the world’s best service providers, goods distributors and global experts into their platform’s ecosystem to ensure the integration of as much business processes as possible. The Blockchain’s power and flexibility allows companies to design tailor-made solutions helping to overcome their existing business challenges.