• The German Federal Office for Information Security has published a study that recognizes VeChain and its technology as an industry leader.
  • The study describes that VeChain has many partners in different branches of industry due to its advanced technology.

In a study published by the German Federal Office for Information Security (BSI) VeChain is awarded among 300 blockchains for a smart supply chain management solution. The aim of the study was to examine and evaluate the security of 300 blockchains within the scope of a market analysis.

The study also tried to identify possible fields of application for the evaluated projects. The study applied a total of 4 different criteria to evaluate the projects: the blockchain should be relevant on the market, the number of security incidents, the general security and the applicability. In this way, the BSI obtained a picture of the situation per blockchain examined.

VeChain, Corda and EOS at the forefront

The study highlights 8 projects out of the 300 blockchains examined. In addition to VeChain, Corda and EOS were among the best rated blockchains. The study describes that Corda could be used to develop health-related applications if no other candidates are available. EOS, on the other hand, received recognition for its technology, which enables the development of decentralized applications, and for its high market capitalization of USD 3 billion. According to the study, EOS is therefore a major player in the dApps market.

On VeChain, the study notes that VeChain’s technology is similar to Ethereum and offers a wide range of practical applications:

Unlike OriginTrail, VeChain has a much larger market capitalization and is supported by a large number of large companies. The study of VeChain and OriginTrail covers the application area of „Supply Chain Management“.

The report examined the open source code of VeChain, EOS and Corda and used automated analysis tools such as static code analysis and manually checked the security relevant components of the code.

As already reported, VeChain has a large partner network that continues to grow weekly. Together with its partner DNV GL, VeChain participated in a webinar to present the blockchain technology and its use cases for sustainable ocean management. The event was jointly organized by Chinese authorities and Norwegian representatives in Shanghai.

In addition, VeChain and DNV GL entered into a partnership with the Italian brand ICAB La Fiammante to use the VeChainThor blockchain in a pilot project to record all relevant product information along the supply chain. VeChain has also entered into a cooperation with the pharmaceutical giant Bayer to develop a blockchain based platform called Csecure. The platform is intended to improve the management of drug administration in clinical trials. It is also intended to make the data transparency, traceability and efficacy of these trials more transparent.