The latest tweet by VeChain confirmed a partnership with Shanghai eGrid consulting Co., LTD, a leading publicly listed ERP, SCM, and CRM solution provider to synergistically provide comprehensive blockchain technology backing for a significant portion of China’s automobile industry. The collaboration also extends to the usage of VeChainThor to leverage the nature of the blockchain technology throughout their business model.
The eGrid consultant company provides data services to large enterprises both overseas and domestic, including international organizations and state-owned enterprises with some experiences of successful implementations with high-tech, automobiles, automotive components, retail, motorcycle, financial, machinery, manufacturing, and others.
They have a long-term focus on automobile companies, as well as manufacturing industries. They build complete intelligent manufacturing solutions for clients that adhere to their independent innovations and existing software uses.
It owns a total of five software copyrights expanding to 14 as of this partnership, fuelling its growth in size rapidly. With a strong knowledge base and intense understanding of the current market necessities and trends, they have been able to develop exclusive solutions as well as onboard high-end clientele within the last quarter.
This new partnership also falls under the automobiles industry with their clientele including Volkswagen, General Motors, Tsingshan Holding Group and many more among the publicly known companies.
How will VeChain help the Automobile Industry?
VeChainThor provides secure IoT and proof of origination in such a way that allows new metrics to be exercised by decision makers. Soon, every aspect of a car from its materials, creation, logistics, care, resale, and recycling will be able to be captured on the blockchain to create a true collaborative automobile ecosystem that empowers the data owner.
The digital car maintenance solution, green driving and carbon banking solutions put together by VeChain will be able to produce a lifecycle solution for data that is valuable to multiple ecosystems, regulators, and decision makers. This will enable eGrid to empower their proprietary solutions with VeChainThor to provide optimized results and data services for their clients.
This combo is one of a kind application of blockchain that the public has not witnessed often. Through the combination of VeChain’s IoT solutions and VeChainThor, VeChain can increase the strength of all industries while decentralizing power and empowering data owners.
VeChain [VEN] is currently worth $2.66 after a significant gain in volume worth 4.21% as compared to yesterday. Standing quite stable at 17th position in the market with a market cap of $1.3 billion is seen at price time.
Tanmay Thackrey, a VEN holder says:
“Can somebody explain to me why the price is not pumping and is so cheap? The most announcements have come to Thor but coins like Verge are going sky high but VeChain [VEN] is dumped all the time. Manipulation of VeChain itself?????”
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