In a recent development, the top China-based brand Yongpu Coffee plans to leverage the nascent blockchain technology in the surveillance of distribution channels in coffee production and commodity traceability and in this regard it has selected VeChain as its best option.
It is worth noting that Blockchain has integrated some crucial improvements to several industries which often address the issues in areas of transparency and immutability.
Yongpu Selects VeChain For Its Production Management
The development was shared on a Twitter handle, eisenreich, a Vechain’s influencer, saying “Yongpu, a leading domestic boutique coffee brand, has reached a cooperation with VeChain Technology to carry out commodity #traceability and channel management for its entire line of products,”
As gotten from the different data, the China-based coffee company has experienced massive growth with a present scale of 100 billion Yuan. This current scale is expected to shoot beyond 1 trillion in three years.
The CEO of Yongpu noted that Yongpu, coffee brands will only get greater bragging rights when the supply chain and the raw materials for production are in their own hands. This can, in turn, be actualized through a solid supply chain resulting from proper channel surveillance.
Reasons for the Partnership
The CEO further noted that Yongpu will use the Vechain blockchain in its quest to rebrand interest to effectively monitor the production channel of its products, from the collection of the coffee beans to the final production stage.
“To further improve the downstream of the supply chain and strengthen the management of online and offline sales channels, Yongpu uses VeChain blockchain technology to effectively monitor each channel,” the brand says.
Furthermore, Yongpu will use the Vechain network to track its production, warehousing, distribution, logistics, and transportation and also, and the brand will collate data on product market inspection as the product gets to the sellers.
The data collected will be stored on the Vechain blockchain, ensuring proper monitoring of all the production channels and much more to prevent the coffee brand from being mitigated and discrepancies in pricing.
Facts About VeChain
VeChain is one of the top blockchains globally founded in 2015 by Sunny Lu. At the moment, its native token sitting in the 34th position of top crypto assets as of press time.