Crypto-Mastermind summary:

  • At China’s most important technology fair, VeChain is awarded with the „2020 China Green Technology Innovation Award“.
  • Important contacts were made with leading personalities of the Chinese government and international companies.

  • Through its ToolChain, VeChain aims to enable brand owners and retailers to ensure transparency and sustainability towards customers and thus create trust in their products.

A few days ago, the largest and most important technology-fair in the country (China International High-Tech Achievements Fair) was held in Shenzhen (China). Leading national ministries of China organized the event and invited VeChain as representative for Blockchain. The ToolChain developed by VeChain was awarded with the „2020 China Green Technology Innovation Award“ at the event. Its sustainable solutions would help many companies to structure their implementations more environmentally friendly.

VeChain as industry leader for environmentally friendly blockchain solutions

The fair took place on 11 November. Participants included China’s Ministry of Commerce, Ministry of Science and Technology, Ministry of Industry and Information Technology, National Development and Reform Commission and other essential authorities.

Heads of government, national and international companies discussed the possibilities for the use of blockchain-technology together with VeChain. The focus was on creating strategies for building environmentally friendly digital infrastructures.

At the event, valuable contacts were made with leading figures from all major companies and the Chinese government. The discussion partners included Lu Kan, Director of the Green Development Promotion Department of the National Development and Reform Commission and Lu Xinming, Deputy Director of the Climate Protection Department of the Ministry of Ecology and Environment.

„2020 China Green Technology Innovation Award“ identifies VeChain as the industry leader for „green“ blockchain solutions. The VeChain Foundation comments on its award on Twitter as follows:

„We’ve won the prestigious Innovative Green Technology award at the China Green Economy Summit 2020! We’re proud that #VeChain is recognized in large-scale government hosted events. Our Project Manager Luke Tang gave a speech about our #sustainability solutions on stage as well.“


Transparency and trust through the Blockchain

With its ToolChain, VeChain wants to ensure the transparency and consistency of data in the supply chain. Thus it can be checked easily and reliably whether the specifications of the product raw-materials and work-processes are adhered to. This benefits both brand owners and retailers, who can ultimately provide consumers with reliable „green documents“. This in turn should strengthen their confidence in the products.

Government and regulatory agencies can also use the blockchain to transparently view and verify the associated data. By preventing manipulation, the authorities can provide sustainable public reports and also optimally direct government financial support.

VeChain itself is focusing in the near future on working with other well-known companies to promote „sustainable development efforts“ and thereby help companies to lead the way with environmentally friendly solutions in the industry:

„In the future, VeChain will work with its strategic partner PricewaterhouseCoopers, one of the world’s four largest accounting firms, and DNV GL, the world’s leading certification body, to provide the most accurate and efficient sustainable digitization based on the company’s direction and business needs … and will continue to make efforts in the area of sustainable development to help more business users to get to the top of the industry and lead the „green economy.“

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