The VeChain team is making headlines in 2023 with a series of significant developments. Most notably, on March 6, 2023, we released the VET 3.0 protocol, a significant milestone in our continued efforts to strengthen and innovate within the blockchain space.
VeChain’s commitment to technological advancement was further accelerated with the approval of a groundbreaking US patent in November. This patent, granted on October 24, 2023, introduces a new method for processing multiple transactions.
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VeChain partners with Walmart China
One of VeChain’s major collaborations came through its strategic partnership with Walmart China. The two companies have jointly launched 23 product lines as part of Walmart’s broader efforts to expand the blockchain ecosystem in supply chain management. Notably, this partnership builds on Walmart’s early success with VeChain, particularly in the area of ​​food traceability.
As of 2018, Walmart was able to track over 25 different products. These include categories such as mangoes, leafy vegetables, and dairy products straight from their respective farms. Additionally, the retail giant leveraged blockchain technology to enhance traceability in its supply chain by 2019.
The collaboration with VeChain on the Walmart China Blockchain Traceability Platform represents a strategic move towards increasing transparency and efficiency in supply chain operations. Additionally, the platform introduced 23 product lines, demonstrating the real-world applicability of blockchain technology.
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Walmart’s use of blockchain technology has expanded beyond its collaboration with VeChain.Retail giant pilots technology to track shrimp exports from India to US
VeChain’s focus on continuous development and strategic partnerships demonstrates the company’s commitment to the advancement of blockchain technology. In addition to ongoing development, VeChain has recently released dApp kit for dApp builders.