With many digital coins still struggling to get back on their feet, VeChain (VEN) is not taking the challenge ahead lying down. In the run up to their VeChain Thor beta public test and a possible MainNet launch, the platform is looking beyond the current unstable market.
Prior to the DB Schenker partnership, the network has been working hard on improving its systems and its two previous versions tests, Alpha 1.0 and 2.0, have been positive. The transformation of the blockchain from VEN to the VET outfit will pass through a public Beta test
VeChain (VEN) DB Schenker Partnership
The VeChain DB Schenker partnership comes at the right moment when the platform is transitioning from its current outfit under the acronym VET. This is will usher in the VeChain Thor MainNet of the future. VeChain (VEN) and DB Schenker have developed an application that is poised to transform the global logistics landscape.
The new VeChain partner is a division of German railways, Deutsche Bahn and has been in the logistics business since 2007. Over the years, Schenker has grown to become a global brand that has brought together more than 68,000 experts in the logistics industry spread across more than 2,000 locations and their mission is clear according to the DB Schenker chairman, Jocheng Thewes:
“Our strategy for 2020 includes all dimensions of acting sustainably and successfully. By challenging the status quo in the logistics industry, we strive toward economic, social, and environmental harmony in logistics and supply chain management. By 2020 we will be the leading integrated transportation and logistics provider.”
This is a major boost for VeChain as it makes its grand entry into the land, air, and rail and sea logistics industry. DB Schenker controls most of the Europe’s freight firms and this will enable the blockchain increase it popularity and uptake in the European market.
Use of VeChain (VEN) in the Logistics Industry
The entry of VeChain into the logistics sector adds to its growing confidence in the chain management industry and a positive addition to its ever growing strategic partnership portfolio. While making the announcement, the Vechain Foundation through their tweeter handle said:
“VeChain has co-developed a dApp with DB Schenker, one of the world’s leading logistics providers. On top of other supply chain offerings, this solution tracks their third-party logistics partner performance, Collaboration at its finest.”
VeChain (VEN) is set to break even after its entry into the global market by partnering with the best service providers and distribution of goods firms. Bringing onboard experts in the logistics industry in to their network makes business integration easy and simplifies the existing processes. This will do away with the industries bottlenecks that Schenker has been battling with.
The partnership will improve performance and the quality of services while making the cost of conducting logistics business affordable, seamless, fast and transparent. This is a first one for VeChain and the data collected will help Schenker evaluate its performance and consumer satisfaction and will also allow other players in the industry access data once they become affiliates.
The VeChain Foundation blog adds:
“Technology makes us better. We believe that Blockchain is able to fundamentally change the logistics industry and we look forward to cooperating with more industry players building a logistics ecosystem based on mutual construction, trust, collaboration, and benefit.”
The VeChain scoring system model will provide bespoke solution to the industry and this will increase the VEN token uptake in the market to increase its value. The increased VEN use cases have created great hype around the platform and this has led to the token stability in the market since the beginning of the year.
VeChain (VEN) Market Outlook Today
The potential of VEN has not been tested and it appears with the ongoing partnerships, it is set to get the test it deserves. The token has not been performing well but its resilience in a bleeding market is evident. Holders are optimistic of a long-term breakout after the MainNet launch leading to a new loon outfit; the VeChain Thor (VET).
VeChain (VEN) price is beginning to stabilize and the last 24 hours have seen it trade at $3.06 after gains of 4.67% against the dollar and 3.55% to Bitcoin. With most of the major coins trading on the green, a spike in the market would mean more VEN gains that might be spurred further after the MainNet making the coin a good buy at the current price.