OrionOne Inc. and VeChain announced a new integration partnership Wednesday. The partnership will accelerate blockchain adoption among logistics companies.
According to VeChain, the partnership “allows OrionOne to offer companies a seamless and rapid onboarding ramp to begin utilizing blockchain in their business.”
By 2027, supply chain management is projected to be a $42 billion per year industry, and as highlighted by the mainstream media, the challenges facing the industry are immense. However, these challenges provide an unique opportunity for innovation through the adoption of emerging technologies and the digitization of supply chainsVeChain Official Statement
Tommy Stephenson, CEO of OrionOne, shared his comments on the partnership. “When it comes to blockchain and supply chain, there’s only one game in town, and that’s VeChain. No other entity can compete with their low-cost, rapid deployment, and ease of use. We’re excited to integrate their blockchain into our products to bring VeChain to a wider network of clients.”
As the blockchain businees continues to grow, companies are looking to integrate the service seamlessly into everyday business. Hence, OrionOne looks to use the blockchain to organize companies’ resources across the entire supply chain. Blockchains use decentralization to provide a trust mechanism, while allowing for multiple competing stakeholders.
Record keeping, compliance, and dispute management are just several ways blockchain can enhance supply chain and reduce logistics costs. Therefore, VeChain will look to apply these to OrionOne in the upcoming update.
Jason Rockwood, General Manager for VeChain US Inc., said, “A key barrier to wide blockchain adoption is the application layer that connects infrastructure to specific business problems. OrionOne simplifies the data gathering mechanism and makes the value of blockchain tangible and easy to deploy. This in turn saves corporate clients time and money while staying current with the latest innovations in supply chain technology.”
The newly updated OrionOne platform featuring VeChain will be available starting Monday, Aug. 15th.