VeChain Signs A Partnership Agreement With Yida Group’s IT Management division, Yida Future
TL;DR — VeChain signs a deal with Yida Future to build VeChain Thor solutions for Yida Group. Yida Group is a prominent (7th in China) master-planned zone real estate developer who developed and owned assets including smart cities such as B.E.S.T. City and smart industrial parks such as Dalian Software Park, and 20+ master planned areas. Phase one of this partnership will include integrating the Gui’an smart city administrative solutions into existing projects. The end result of this partnership being VeChain Thor integration into current technology and the development of blockchain solutions that are customized to all existing clients and assets under Yida Group.
The creation of a new global standard for better business ecosystems will come from the top down. The rapid change, and large scale impact moving the world’s business from a fiat and paper-based system to one of digital currency and blockchain is not a process that happens overnight. This process takes the world’s elite businesses dedication and commitment to bettering its products and the world around it. VeChain aims at these beacons of change to work hand and hand with them to develop solutions enable the greater good.
VeChain has seen immense value in administrative solutions that capture the authority and origin of documentation that make it immutable. These types of paper trails, communication processes, and proof of publication concepts are results of our work in Gui’an. Now we have the opportunity to cooperate with the government of Dalian through a highly reputable and innovative partner in Yida Group and their Yida Group IT solution company, Yida Future.
Yida Group is one of the top real estate development companies in all of China and celebrated among all Master Planned Zone Developers (i.e. city builder and managers). These development zones are owned by Yida Group consisting of master plan communities including Fortune 500 business centers, residential districts, shopping outlets, and entertainment assets. Yida Group currently has over 2.36 million square meters (25 million square feet) of AUM (Asset Under Management) such as the globally known Dalian Software Park.
Companies with offices and regional headquarters in Dalian Software Park include:
- American Companies: Accenture, Fidelity Investments, Genpact (a GE company), HP, IBM, Oracle Corporation, Cisco, Symantec, Netapp, etc., Chinese companies: China Software & Service (CS&S), Neusoft Group, Neusoft Institute of Information, New Touch, etc.
- European Companies: British Telecom (UK), SAP (Germany), Outsourcing (A joint venture of Akyla 40%, Better Be 40%, Insight 20%, Netherlands), etc.
- Japanese Companies: Alpine, Fujitsu Device, Hitachi, NEC, Panasonic, OMRON, Sony, Sumitomo Wiring Systems, Yokogawa Electric, etc.
- Other Companies: Satyam (India), Wistron (Taiwan), etc.
Yida Group also developed, operates and manages the Eco-New City of Dalian, Dalian B.E.S.T. City (Biodiverse Emerging Science Technology). (https://www.dlbestcity.gov.cn/) Dalian’s BEST City has been a Chinese awarded innovation smart city, alongside partner Panasonic (https://panasonic.net/es/solution-works/bestcity/) , establishing smart projects such as network integration, wireless networks, energy management, renewable energy, smart grids, green buildings, and smart medical facilities.
Yida Future is a wholly owned subsidiary of Yida Group, and technological arm of Yida Group. With around 5,000 employees, the business of Yida Future focuses on business to business IT solutions, including:
- Smart Business Park solutions
- Insurance industry IT Solutions
- Government administrative IT solutions
- Pharmaceutical and Medicine IT solutions
- FMCG Industry IT solutions
- Medical Equipment Industry Solutions
- Smart Senior/Elder Living Industry Solutions
VeChain’s work with Yida Future will be broken into phases with the end result being VeChain Thor integration into current technology and the development of blockchain solutions that are customized to all existing clients and assets under Yida Group. The first stage in development is to implement VeChain’s administrative blockchain solution into Dalian Software Park and B.E.S.T. City. This solution will allow the utmost precision and security when these companies, governments, and users sign contracts, design business plans, and follow authority procedures. Yida Group finds such a solution to be a competitive advantage and an incredibly valuable asset for their work moving forward.
Since 1998, Yida Group has managed over 30 different large scale development projects. Some of their projects include:
- Hankou Happiness Innovative Ecological Peninsula Project
- Guanggu Smart Health Industry Base
- Beijing Yizhuang Mobile E-town
- Changsha Meixihu Innovation Center Project
- Chongqing Liangjiang Science and Technology City
- Haikexing Sinovac Strategic Emerging Industrial Park
- Changsha Science and Technology City
- Hangzhou Ecological Science and Technology Park
- Yida North Hongqiao Entrepreneur Park
- Suzhou High-speed Rail New Town Technology Park
- Yida Shangjinwan Headquarters Economic Park
- Wuhan First City
- Yida Information Software Park
- Suzhou Hi-Tech Software Park
- Tianjin Binhai Service Outsourcing Industry Park
- Wuhan Optical Valley Software Park
- Dalian Ascendas IT Park
- Dalian Neusoft University of Information
VeChain Thor will continue to be empowered by partners such as Yida Future and Yida Group who are collaborating alongside VeChain to build solutions to the issues they and their customers are facing. This is another valuable step towards creating a new global standard for better city management and business ecosystems.