OrionOne and VeChain Announce Partnership, Accelerating Blockchain Adoption in Supply Chain
OrionOne Inc., a global supply chain technology solutions company that has developed a powerful SaaS platform to deliver best-in-class technology to the supply chain market, and VeChain, the world's most widely known enterprise blockchain, today announced the integration of their technologies to accelerate blockchain adoption among logistics companies.
The direct integration of OrionOne's best-in-class logistics platform and VeChain's blockchain platform 'VeChain ToolChain' allows OrionOne to offer companies a seamless and rapid onboarding ramp to begin utilizing blockchain in their business, all without burdensome investments in network infrastructure or management of cryptocurrencies.
Blockchain technology continues to disrupt the supply chain industry. Decentralization, an important trait of public blockchains, provides a trust mechanism, making data more robust and reliable when managing multiple competing stakeholders. Record keeping, compliance, and dispute management are just several ways blockchain enhances supply chains and reduces logistics costs.
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 a unique opportunity for innovation through the adoption of emerging technologies and the digitization of supply chains. OrionOne's logistics software helps companies organize and manage people, goods, and resources across the entire supply chain, including transactions and supplier relationships, providing an end-to-end overview of a product's journey to market.
Tommy Stephenson, CEO of OrionOne said, "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."
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 August 15th.