Monday, August 19, 2019
News
NEWS HOME
PRN INDIA
BrightCode, A Blockchain-based Commodity Confidence Index Initiated by VeChain and Bright Food, Introduces How VeChainThor Blockchain Empowered Their Business
  SocialTwist Tell-a-Friend  
   

SHANGHAI, July 20, 2019 /PRNewswire/ -- In spring 2004, four men died of alcohol poisoning in Guangdong, China and eight other hospitalized. In 2008, six infants died and 54,000 were ill with various severity caused by the melamine-tainted formula and 51,900 of which were hospitalized in China. In 2018, ten years after this tragically contaminated baby formula broke out; the Chinese citizens witnessed the discovery of more than 200,000 faulty vaccines for children were distributed in public hospitals in China. The above incidents are a few out of many scandals that occurred in recent years. Consumer confidence of Made-in-China food and drugs have reached an all-time low.

Over the past years, legitimate Chinese enterprises have invested heavily in quality control. Companies like Bright Food are devoted to providing top-tier products. However, they found it hard for them to prove their products' quality to the consumers. To solve these problems, BrightCode was created.

BrightCode is co-developed by VeChain and Bright Food's subsidiary Shanghai Xiandao, based upon VeChainThor Blockchain's next-generation BaaS platform -- VeChain ToolChain. The Application is, by nature, a blockchain-based commercial ecosystem and commodity confidence index platform designed to promote product safety while providing Proof of Trust. Headquartered in Shanghai China, Bright Food (Group) is a multinational food and beverages manufacturing company with 5 Publicly listed subsidiaries. It is the second-largest food supplier for China's 1.4 billion residents. In the year 2018, Bright Food recorded a total asset of over $37 billion, generated $22.9 billion in total revenue. Due to the dominating influence of Bright Food Group, BrightCode will be a significant factor in changing people's food purchasing and consumption habits in China.

Since launch, BrightCode has seen its applications in the food industry, where it's used to keep track of the entire lifecycle of the products. The first batch of the products to have gone live on BrightCode includes the premium "Cupids Farm" Milk.

In the case of "Cupids Farm" Milk, IoT devices are leveraged to collect data automatically from production to distribution in real-time to avoid human intervention or errors. The data verified by DNV GL, one of the world's leading certification bodies, will be uploaded and stored on the VeChainThor Blockchain for reliability and authenticity.

Upon packaging, each piece of product is attached a unique QR code. The code each represents a unique ID on the VeChainThor Blockchain. By scanning the QR code, end-users or consumers will get access to accurate product information stored on the blockchain and gain deeper insights into the story behind the product.

BrightCode has set itself as a great example of implementing VeChainThor Blockchain technology in creating an innovative business model. BrightCode's model can solve the trust issue caused by supply chain information asymmetry and boost consumer confidence in food and safety in China once again. VeChain will join hands with BrightCode to further promote the platform to application scenarios outside of the food and beverage industry. More product lines will be developed in the auto parts and healthcare industries to create comfortable consumer experiences.

About VeChain
Launched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco.

Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, Brightfood Group, D.I.G, DB Schenker, PICC, etc.

For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com.

Video - https://www.youtube.com/watch?v=3nz9WrYSlC4

More News by PR Newswire India

Second Edition of TechLaw.Fest Addresses Challenges Surrounding Data Access and Control, Data Security, 5G, and the Role of Data in Commerce

BloombergNEF Awards Sungrow a 100% Bankability Rating

"Borderline" Becomes Southeast Asia's First Contemporary Artwork to be Acquired by France's Guimet Museum

Global market of dietary supplement is welcoming a rising star GLYMATE

Artprice by Art Market: Latest Auction Records in Photography

Sungrow Supplies Argentina's Largest Solar Plant with 1500Vdc Central Inverter Solutions

Over 120 Exhibitors From 10 Countries to Participate in Food & Hotel India 2019

SOTC Launches Holidays to Western Australia

Sonata Software Limited Announces Partnership With Agastya International Foundation to Support Creativity and Innovative Thinking in Rural Schools

Garuda Mall Presents Bengaluru's Biggest Doll and Book Festival August 2019

IIHM Initiative for 'Freedom From Hunger' on Independence Day

Xinhua Silk Road: Tasly remains China's 2019 National Tech Innovation Demonstration Enterprise

The Garment Manufacturers Association in Cambodia (GMAC) urges the EU to maintain the EBA program - The livelihood of 750,000 workers and the welfare of some 3 million Cambodians at stake

Venus Concept Announces Financial Results for the Second Quarter and First Six Months of 2019 and FDA 510(k) Clearance of Venus Bliss™

HHL Leipzig Graduate School of Management Confers Honorary Doctorate to Federal Chancellor Angela Merkel

IHG® Hotels & Resorts Serves Up One-of-a-Kind Experiences at 2019 US Open

Earlier Is Better ... New, Patented At-Home Blood Pregnancy Test, Available Exclusively From TAEUS, Offers Human Pregnancy Confirmation Within Days, Rather Than Weeks

Frost & Sullivan Recognizes Proofpoint as the Global Email Security Market Leader for Fifth Consecutive Year

IBC2019: TVU Networks Announces Advances in AI, 4K60fps and HDR Transmission, and Remote Production

Rain Carbon Begins Commissioning Process at New Hydrogenated Hydrocarbon Resins Facility in Germany

AntWorks and Everest Group Unveil Intelligent Document Processing Playbook

Charkit Chemical Announces Promotion Of Panos Yannopoulos To Executive Vice President, Sales

FDA Approves New Treatment for Highly Drug-Resistant Forms of Tuberculosis

Grammy Winning and Multi-Platinum Recording Artist Ariana Grande Launches Her New Fragrance THANK U, NEXT

Amplitude launches Engage, a behavioral targeting solution for automated campaign personalization

Webb Fontaine Group FZ-LLC Signs a National Single Window Implementation Contract With the Government of Nepal

upGrad Honours the Indian Armed Forces With an Exclusive Lifelong Benefit, This Independence Day

Mishtann Foods Reports 22.1% Increase in Q1FY2020 PAT at INR 3.14 Crore

Gyrfalcon's Cutting-edge Technology for Creating AI Accelerator Chips Commended by Frost & Sullivan

Rolls Royce's Ghost Zenith Collection, the Pinnacle of a Timeless Masterpiece

CleverTap Helps GiftAMeal Increase the Number of Meal Donations by 2x

TÜV SÜD South Asia Introduces Promotional Scheme Offering Testing Services With 8- hours Turnaround Time for Textile Manufacturers in Tiruppur

Over 300 Exhibitors & 650 Brands From Gems & Jewellery Industry to Participate in 8th Edition of Delhi Jewellery and Gem Fair ( DJGF ) 2019

9stacks Wins the SuperStartup Asia Award 2019

Mobileum Inc. Acquires WeDo Technologies

true balance and ICICI Lombard Partner to Provide Financial Inclusion to the Next Billion

Ashraya Hastha Trust Partners With Smile Train India to Boost Cleft Care Ecosystem in India

Radio Nasha Celebrates 25 Years of 'Hum Aapke Hain Koun' at Nasha Premiere Nights

Bitfinex Enables Intermediate Verification Level

Small-satellites and Downstream Digital Transformation Accelerate Space Industry Evolution

Uflex Starts Q1 FY2019-20 With a Steady Performance

Vanita Bhandari Takes Over as 50th President of IMC's Ladies' Wing

Jet Midwest, Inc. Acquires a B767-200ER airframe and CF680A-2 engine

42Gears Named as a Visionary in Gartner's Magic Quadrant for Unified Endpoint Management Tools 2019

Richardson Launches Enhanced Service Through Consultative Sales Training Program to Equip Service Professionals with Skills to Deliver Exceptional Customer Experience & Unexpected Value

Chef Clement D'Cruz of Hyatt Joins IIHM Panel of Experts

Voltaiq Applauded by Frost & Sullivan for its Game-changing Battery Analysis Platform, Voltaiq Core, and Innovative Battery Digital Twin Solution

Private and SME Segments Stand Out Globally as Key Targets for Car Leasing Companies

ITC Infotech and 'Automation Anywhere' Pioneer Digital Workforce

Clarivate Analytics launches Cortellis Digital Health Intelligence, a first-of-its-kind solution covering the global digital health ecosystem

Combined Surgical Suction/Irrigation Technology Available Immediately

FDI Applications More Than Doubled in First Half of 2019, Thailand BOI says

Mambu Earns Acclaim from Frost & Sullivan for Accelerating Customers' Time-to-market with its Cloud-based Core Banking Platform

Mukta Arts' Q1 FY20 Consolidated Revenues up 40% y-o-y to INR 47.9 Crore

Prozone Intu's Q1 FY20 Consolidated Revenues up 31.4% to INR 22.3 Crore

Companies Invest Heavily in Employee Health Management IT Solutions to Improve Employees' Well-Being and Corporate Performance

Sofyx & Servify Team Up to Launch Protection Plans for Smartphones in General Trade

OPPO Announces Discounts on F11 Pro and F11 This Independence Day

udChalo Forays Into the Hotel Segment by Partnering With Oyo and Fab Hotels

One Tree Can Save the World - InitiativeTree Launches Its Worldwide Network Tree Planting Program

Global Construction Additives Market Set for Robust CAGR of 6.6% from 2018 to 2025

The Farm at San Benito, Philippines Offers Special Monsoon Packages for Indian Travellers

Saksoft Q1Y20 EBITDA at Rs. 16.17 Crs, a Growth of 40.2% Y-o-Y

UST Global Announces Strategic Partnership With SeaLights Technologies

Pennar Industries Reports 25.8% y-o-y Increase in Q1 FY2020 Consolidated PAT After Minority Interest at INR 16.5 Crore

Global Alliance for the Future of Food Report: 21 Inspiring Examples of a Sustainable Food Future

New Review Suggests Normal Use of Electronic Cigarettes is Unlikely to Raise Significant Health Concerns

Conagen Expands Portfolio Beyond Gamma-Decalactone to 20 new non-GMO Lactones

Concept Medical Inc. Granted 2nd 'Breakthrough Device Designation' From the FDA for Its MagicTouch PTA Sirolimus Coated Balloon, for the Treatment of Peripheral Artery Disease (PAD) in Below-the-Knee (BTK) Indication

Betway Partners With Cricket Legend Kevin Pietersen

Higher Levels of Automation Expand Revenue Potential for Analytical Instrumentation Manufacturers

Xinhua Silk Road: Inaugural Fortune Global Sustainability Forum to be held in SW China's Yuxi in early Sept.

Autonomous Vehicle Developers Bet on Sensor Fusion Solutions and L2+ Features

KSB is First Reactor Coolant Pump Manufacturer to be Certified for Modern Nuclear Power Plants in China

Diabetic Patients Face a High Risk of Viral Hepatitis, Over 300 Million Infected HBV Patients are Unaware of Their Status, Says Dr. Nagaraj.S, Infilife Healthcare Pvt. Ltd.

Embassy Office Parks REIT Announces First Quarter FY 2019-20 Results; Reports Quarterly Distribution of Rs 4,167 Million

The Stars Group Reports Second Quarter 2019 Results; Updates 2019 Full Year Guidance; Appoints New Independent Director

Taiwan Tourism Bureau gets on Track With the Mumbai Metro

New Lagavulin 10 Year Old Single Malt Scotch Whisky: A Rare and Exclusive Treat for Travellers

Amity University Maharashtra Hosts its First Annual Convocation Ceremony in Mumbai

Producer Gaurang Doshi has been Instrumental in the Launch and Success of Many Among 'A' List Bollywood; Plans to Launch Ace Talent yet Again

MEIL's Engineering Marvel Converts Telangana's Dream Into a Reality

Deutsche Messe AG Alliance with Donghao Lansheng Group to Launch New Industrial Fairs in Shenzhen and Chengdu from 2020

Children Learn to Become Global Leaders at the 2019 Eye Level Model United Nations Camp

HONOR Vision Defines the Future with HONOR "Sharp Tech" Innovations

116 Young Talents for the 3rd Zhuhai Mozart Competition in September

 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Triple talaq 'un-Islamic', not supported...
Telangana government neck-deep in corrup...
Telangana: Around 60 prominent TDP leade...
Yediyurappa awaits Shah's nod to expand ...
Malnutrition bigger threat than Maoists:...
Leh's Magnetic Hill: Myth or Real?...
More...    
 
 Top Stories
Over 20 killed in oil tanker explos... 
US condemns 'barbaric' terror attac... 
Ashes: Australia cling on to draw d... 
Pak government presents first anniv... 
Despite bill on triple talaq women ... 
UN chief condemns bomb attack on we... 
UN appeals for more help to allevia... 
C'garh couple accuses nurse of medi...