VeChain and DB Schenker pioneer in the use of blockchain for the logistics industry
VeChain Foundation is the world’s leading 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. One of those solutions has now been co-developed with DB Schenker, one of the world’s leading global logistics providers.
DB Schenker is the transport and logistics division of Deutsche Bahn. With a dense network of over 68,000 logistics experts in 2,000 locations, DB Schenker offers comprehensive supply chain management solutions, efficient air, ocean, rail and land transport as well as contract logistics around the globe.
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.
By collaborating with third-party logistics providers in China, DB Schenker 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.
For that reason, DBSchenker has developed a supplier evaluation system with VeChainThor platform. This is the first time that Blockchain is used for supplier management purposes. VeChainThor blockchain scores the business partners based on collected data and allows DB Schenker 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.
Technology makes us better. We believe that Blockchain is able to fundamentally change the logistics industry and we look forward to cooperating with more industry players building a logistics ecosystem based on mutual construction, trust, collaboration and benefit.