In wake of the deteriorating effect of climate change, VeChain Foundation is launching a blockchain-based Sustainable Solution platform dedicated to achieving a future filled with green, sustainable and ecofriendly businesses.
Consumers around the world are asking for tenable products, and companies are also making efforts to meet the demand of their customer by integrating a sustainable approach into their businesses.
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The likes of Amazon, Nike, H&M and Adidas, among others, have already made inroads in this area, by making sustainability a major area of focus while producing and marketing.
Although the credibility of blockchain technology, (Bitcoin), has always been a major concern in the tech world, VeChain proves to stand out as the man among boys, by using the VeChain ToolChain™, a one-stop data Blockchain-as-a-Service (BaaS) platform, to develop a solution, that lets companies upturn the efficiency of their sustainable practices, a release has said.
According to The World Economic Forum research, companies are bound to face more risks, due to the implication of climate change on business supply chains and operations.However, policymakers and regulators are now mandating climate risk disclosure legislation and lawsuit against companies that fail to comply to ensure transparency on sustainable activities.
Due to the growing awareness of climate change effect on the environment, customers have also joined hands in this fight by demanding for credible products from companies; this willingness is more common among the Generation Z.
Hence, the VeChain-based Sustainability Solution platform, built for this course, is designed to offer a value-driven approach for businesses to modernize their reliable practices during operations and supply chains. The immutability and transparency of VeChain blockchain makes this possible, allowing businesses to showcase their sustainable practices to regulators, policymakers and customers.
The VeChain ToolChain™ enabled solution, is developed to allow for easy and seamless implementation in various sectors, flexible payment in the market, light cost and high standardization. VeChain ToolChain™ also proposes a whitelabel services and customizable tools.
Via the new solution, companies are sure of getting accurate, immutable and consistent data across diverse counterparties in the supply chain, reducing/eliminating some of the problems associated with data.
Also, brands can renew or build their trust through the VeChain Sustainable Solution as the platform makes them more transparent.
The sustainable initiative which is used in data collection across supply chains, also lowers costs, hence, brands are sure of getting more value.
As an added benefit, companies that adopt this solution, will have access to world’s leading third-party services from the likes of PwC, Grant Thornton, DNV GL and Deloitte among others, via VeChain.
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