VeChain, a company that describes itself as the “leading global enterprise public blockchain platform” has just announced a new partnership with eGrid thus adding another impressive name their list of high-profile partners.
VeChain announced the partnership on Monday with posts on their Twitter and Medium accounts stating their aim to “synergistically provide comprehensive blockchain technology backing for a significant portion of China’s automobile industry.”
What is eGrid?
The Shanghai eGrid Consulting Co., Ltd. provides data services to large enterprises both domestic and overseas, including international companies, and state-owned enterprises. The company is a leading publicly listed provider of ERP, SCM, and CRM solutions and has a wealth of experience in many hi-tech and manufacturing industries. They partnered with Oracle, and the development and technical support services eGrid provides is based on Oracle software.
eGrid also boasts partnerships with IBM, Deloitte, Siget, Capgemini, and Hitachi.
VeChain refers to eGrid as “one of the most influential consulting services for software and data solutions used by auto brands” and, given VeChain’s interest in the automobile industry (as evidenced by their partnership with BMW), it isn’t hard to see why this partnership is important. VeChain will undoubtedly benefit from the experience of eGrid, but it has already made a name for itself in its own right having had projects backed by the Chinese government and with its loyal following in the crypto community.
A collaborative automobile ecosystem
VeChain wants to use secure IoT integration and proof of origination to provide new ways of measuring data — driver’s driving habits, the frequency of brake use, and more. This data is useful as it can provide insurance companies and manufacturers with the information they need to quote future insurance costs, reduce the costs of untrustworthy data, and understand how vehicles are being used.
The partnership represents another step in VeChain’s mission to develop a comprehensive ecosystem that could radically change the automobile industry. Specific details of the partnership are of course under wraps, but as the Vechain project continues to evolve, it is worth keeping an eye on.
Michael is an English and Creative writing graduate of Liverpool John Moore’s University, a former editor of several magazines, and a crypto-currency enthusiast. He is mostly interested in crypto-legislation and the potential of decentralized technology to change the world.