In the previous release, we kicked off the Partner Update and Spotlight Series with a video interview with Jie Zhou, CEO of iTaotaoke, who shared with us how VeChainThor Blockchain solutions are integrated with iTaotaoke, helping them build a platform with innovative features where self-publishers and content providers can profit from the knowledge and content they created, all while having their intellectual property protected.
Supply chain management is a second area to be highlighted in this series where the VeChainThor blockchain has been brought into play, and MadeforGoods (hereafter refers to as MFG), one of the first partners of VeChain, is a perfect narrator to tell the community their experience on how the VeChainThor Blockchain is leveraged to empower their business.
“The VeChainThor Blockchain has been introduced into multiple products and services we developed for our clients, and the technology contributed significantly to our product innovation and promotion. The advanced blockchain-based solution not only serves to provide better anti-counterfeiting compared with physical anti-counterfeiting solutions and traditional digital solutions, but also ensures data authenticity and immutability. As a cutting-edge technology, Blockchain is set to bring huge value moving forward. To achieve such value creation takes the joint effort and persistence of us all. ”
Below is an excerpt and highlights of the video interview.
Q: Why did you choose the VeChainThor Blockchain?
A: It’s the similarities that we share that brought us together. Both of us started our businesses focusing on innovation and we also have a lot in common in terms of our clientele and partners, for example, both of us have been working with wineries. The business culture and ideology for both of our companies are similar too, and with so much in common, it’s only natural for us to move forward to achieve greater heights together.
Q: Which business area of MFG has VeChainThor blockchain technology been applied?
A: The VeChainThor Blockchain technology has been mainly integrated into the product traceability solutions and digital marketing solutions MFG developed for its enterprise customers. In some use cases, the products are each assigned a QR code representing a unique ID on VeChainThor Blockchain, which enterprises can then keep track of the lifecycle of the products and formulate marketing plans on a case-by-case basis, all while allowing end-consumers to access the product information necessary for them to make better purchasing choices.
Q: How does MFG empower its clients through the VeChainThor blockchain?
A: For our clients, one of the most urgent and imperative issues that they need to tackle is anti-counterfeiting. The traditional solutions adopted are physical anti-counterfeiting techniques, which have proven to be inadequate, thus people turned to digitalized solutions, however, it turned out that the digitalized solution also has its own Achilles’ heels: insufficient data security and unsatisfactory data encryption techniques, etc. So, we introduced blockchain technology. Empowered by the technology, the data of the products are updated and stored on the blockchain, thereby achieving full traceability and guaranteeing authenticity. The blockchain-based solutions are well-received by our clients.
Another area that blockchain technology will have a role to play lies in achieving marketing integration, for example, the joint marketing events co-conducted by FMCG brands.
So basically, the VeChainThor blockchain enables us to empower our clients through achieving anti-counterfeiting and marketing integration.
Q: In the next stage, what is MFG’s plan for VTHO consumption on VeChainThor blockchain?
A: With the development of blockchain technology, we can expect wider acceptance from the mainstream, which will lead to a growing number of companies, especially the leading companies, to be involved in Blockchain-based solutions. And that will give rise to new demands for the technology, for example, VeChainThor might be needed for collaboration-based marketing scenarios to achieve higher data security. We’re looking forward to facilitating this process and achieving a win-win result for all.
Q: Towards members of the VeChain community that are interested in this project, is there anything you would like to say to them?
A: I’d like to say that in the future, you will find more and more products having their own unique digital ID as a marker of their identity in the market. At this stage, the products are mainly marked by QR codes. In the future, however, products might be marked by NFC chips. It can be expected that one day everything in our life will be interconnected, which will present a brand new market for blockchain technology and blockchain-based solutions. Let’s work together to make that day come sooner!
Founded in 2016, MFG is an inspiring example of how Blockchain technology can be leveraged to empower supply chain management and marketing integration. With Blockchain-based solutions, enterprises can ensure the authenticity of their products, directly manage information from once indirect customers, and identify new potential markets.
Empowered by VeChainThor Blockchain technology, MFG provides a highly configurable SaaS solution, including unique digital ID management, WeChat Mini Programs, and Big Data Analytics — with a timeframe of just 6 weeks for implementation.
The solutions developed by MFG have already been adopted by over 60 brands from a wide range of industries such as alcoholic beverages, auto aftermarket, industrial goods, food services and more, reaching out to more than 300 thousand active retailers with an 80% scan rate. As of now, MFG has serviced its clients in over 10 billion business transactions.
This is the second article within the “Partner Update Series.” We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases these partners are implementing on the VeChainThor main net includes energy, supply chain management, retail, digital certificates, food, and beverages. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.