VeChain has recently launched a blockchain-based sustainability solution called ToolChain to help companies boost their supply chain. Companies like Grant Thornton, Deloitte, and others will be marketing the solution until further notice to ensure a smooth adoption across firms.
According to VeChain, the new solution, ToolChain, is a blockchain-based platform that will provide a more sustainable supply chain. In other words, the solution will disclose the activities of companies to policymakers without extra cost.
The solution will enable firms to minimize public reports for state regulation. VeChain also stated that the blockchain-based solution would offer white-label solutions. And tools that will allow companies to implement sustainable supply services. With ToolChain, there will be better transparency and consistency of data, processing, and storage of information.
Why did VeChain Launch this Solution?
- VeChain launched this solution to help correct the lack of trust between brands and customers.
- ToolChain serves as a reconciliation medium for companies and customers.
- Due to the strict regulations, the company aims at bringing blockchain technology to businesses in every sector.
- With its strategic partnership with well-known companies, VeChain wants to create a future where blockchain-related businesses can thrive without restrictions from policymakers.
- As earlier said, the company also aims at creating initiatives that will stand the test of time via data collected by ToolChain, and allow policymakers access the status of blockchain firms with ease.