VeChain Signs A Partnership Agreement With Shanghai eGrid Consulting Co., LTD

TL;DR — VeChain signs a deal with Shanghai eGrid Consulting Co., LTD, a publicly listed company on NEEQ (Stock Ticker: 831938), to integrate VeChain’s existing automobile solution into its current automobile ERP, SCM, and CRM solutions. The partnership also extends into use of VeChainThor to leverage the nature of the blockchain throughout their business model. Shanghai eGrid Consulting Co.,Ltd. provide data services to large enterprises both domestic and overseas, including international companies, and state-owned enterprises. Globally, eGrid has successful implementation experiences with many companies within high-tech, automobile, automotive components, motorcycle, retail, financial, machinery and manufacturing industries. Their clientele within the automotive industry include: SAIC Volkswagen Automotive Co., Ltd., BYD Auto Co., Ltd., SAIC General Motors Corporation Limited, Chang’an Automobile (Group) Co., Ltd., Changan PSA Automobiles Co., Ltd., Dongfeng Motor Corporation, Tsingshan Holding Group, Chongqing Jianshe Vehicle System Co., Ltd., Isuzu Motors Ltd., Jiangling Motor Holding (Landwind) among the publicly known companies.

As VeChain penetrates the automobile market, providing solutions to complex problems, the response has been staggering. The use of VeChainThor provides secure IoT and proof of origination in a way that enables entirely new metrics to be exercised by decision makers. The existence of VeChain’s car maintenance solution extends well past the maintenance of a vehicle as it enters the shop. It also provides onboard IoT solutions that power the understanding of driver’s driving habits, frequency of brake uses per 100 km, acceleration speed, and more metrics that can empower big data sets within insurance packages, car manufacturer improvements, and cart part manufacturers. Soon, every aspect of a car from its materials, creation, logistics, care, resale, and recycling will be able to be captured on the blockchain to create a true collaborative automobile ecosystem that empowers the data owner.

Through this process, all the data associated with the vehicle once owned by a vehicle distributors or sellers (for example, the vehicle maintenance data stored by vehicle sellers and auto repair services and the data of your spare parts owned by your spare parts suppliers) can be integrated and truly belong to the buyer. It is obvious that different data holders only obtain portions of the data’s value, and when all of the data is integrated together, the sum is greater than the parts. It will be possible for an insurance company to have an instant overview of the vehicle’s life cycle, from maintenance to potential accident history, making it much easier to quote next year’s car insurance cost. The entire process greatly reduces labor and data trustworthiness costs. This cost reduction would in turn benefit the users.

By combining the digital car maintenance solution with our green driving and carbon banking solutions, VeChain is able to produce a lifecycle solution for data that is valuable to multiple ecosystems, regulators, and decision makers. It is for that reason VeChain was able to secure a partnership with Shanghai eGrid Consulting Co., LTD one of the most influential consulting services for software and data solutions utilized by auto brands.

eGrid was established in 2006, and became listed in 2015. They have a long-term focus on automobile companies, as well as manufacturing industries, providing customers ERP, SCM, and CRM consulting services related to their information technology services. eGrid builds complete intelligent manufacturing solutions for clients that adhere to their independant innovations and existing software uses. eGrid has been growing in size rapidly, owning a total of five software copyrights leading into 2018 expanding to fourteen as of this partnership. Their understanding of the current marketplace has enabled them to develop exclusive solutions as well as onboard high-end clientele within the last quarter.

In partnership with Oracle, IBM, Deloitte, Siget, Capgemini, and Hitachi, eGrid has been able to secure a client list where public clients include:

  • SAIC General Motors Corporation Limited
  • SAIC Volkswagen Automotive Co., Ltd.
  • BYD Auto Co., Ltd.
  • Chang’an Automobile (Group) Co., Ltd
  • Changan PSA Automobiles Co., Ltd.
  • Dongfeng Motor Corporation
  • Tsingshan Holding Group
  • Chongqing Jianshe Vehicle System Co., Ltd.
  • Isuzu Motors Ltd.
  • Jiangling Motor Holding (Landwind)

In this partnership, eGrid will leverage the nature of immutable, secured data storage and distribution of blockchain technology, and integrate VeChain’s existing automobile solution into their current ERP, SCM, and CRM solution for existing and future clients. This will enable eGrid to empower their proprietary solutions with VeChainThor to provide optimized results and data services for their clients.

The use of the car maintenance, green driving, and carbon bank projects will be one of the leading applications for blockchain adoption seen by the public. VeChain’s work within the industry is growing deeper with increased talks with the world’s most known companies and part providers. Through the combination of VeChain’s IoT solutions and VeChainThor, VeChain can increase the strength of all industries while decentralizing power and empowering data owners. The power of VeChainThor continues to grow by drastic measures and has solidified itself as the leading global enterprise public blockchain platform.

The VeChain Foundation is a non - profit entity established in Singapore.