Vechain, the top enterprise-grade layer 1 blockchain platform, has recently collaborated with a Canada-based software-as-a-service (SaaS) platform, TruTrace.
As stated in the announcement:
“the direct connection between TruTrace and VeChain ToolChain will allow TruTrace to offer to those companies dedicated to product quality and authenticity, a seamless and rapid way to begin utilizing blockchain in their business, all without burdensome investments in network infrastructure or management of cryptocurrencies.”
Also, the Canadian SaaS platform adopted the VechainThor blockchain to strengthen its protection for brands and consumers against being a victim of fake and contaminated products in the affiliated companies such as legal cannabis, food, apparel, and pharmaceutical industries.
According to the Statement by the CEO of Trutrace; “When we began the development of TruTrace, our mission was to serve as an interconnected blockchain-secured product registry and traceability solution which could bring all stakeholders together and serve to track and manage variabilities from batch to batch and lot to lot.”
He further stated:
“Although our confidence in the power of blockchain to support this mission never wavered, there were difficulties using this technology without onerous gas fees or being limited to permission-based systems. Fortunately, this all changed with the adoption of VeChainThor, which is a true enterprise-grade blockchain that understands how to bring value to clients at a reasonable cost with the ability to scale at a global level,”
Facts about TruTrace
As stated in the official announcement, it was designed specifically to power the traceability of examining standards within the legal cannabis, nutraceutical, food and pharmaceutical space with the aim of the authentication of source materials or ingredients used in the production.
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Jason Rockwood, General Manager for VeChain US Inc., said:
“When the public thinks about VeChain, they often think about our use in consumer product traceability and storytelling. TruTrace has developed a specific niche in the food, pharma, and cannabis industries, the latter two of which are highly regulated. This makes TruTrace a perfect complement to our growth strategy for North America. I’m excited that this relationship will bring VeChain’s technology to a wider portfolio of consumer brands.”
Facts About Vechain
It is a global leading enterprise-friendly blockchain company which aims to connect blockchain technology to the real world by making provisions for enterprises with blockchain-enabled solutions suited to their business needs. It offers VeChain ToolChainTM, a low-code blockchain-based platform that allows enterprise clients to rapidly build and drive digital transformation on a global scale, enabling the evolution of a trust-free and distributed ecosystem.