BrightCode, blockchain-based index empowers businesses

VeChain reported on 19 July that with the growing cases of food and drug-related fatalities in China, BrightCode would change people’s food purchasing and consumption habits.

VeChain conveyed that over the past years, genuine Chinese enterprises had invested heavily in quality control. The blockchain platform further added that companies like Bright Food were dedicated to providing top-tier products. VeChain indicated that such companies found it tedious to prove their product quality to the consumers. In a bid to solve these problems, BrightCode was created.

VeChain expressed on the inception of BrightCode as – 

“BrightCode is co-developed by VeChain and Bright Food’s subsidiary Shanghai Xiandao, based upon VeChainThor Blockchain’s next-generation BaaS platform — VeChain ToolChain.  The Application is, by nature, a blockchain-based commercial ecosystem and commodity confidence index platform designed to promote product safety while providing Proof of Trust. Headquartered in Shanghai, China, Bright Food (Group) is a multinational food and beverages manufacturing company with 5 Publicly listed subsidiaries.”

VeChain shared some statistics by informing that Bright Food was the second-largest food supplier for China’s 1.4 billion citizens. Bright Food recorded a total asset of over 37 billion U.S. dollars while generating 22.9 billion U.S. dollars in total revenue. VeChain emphasized that due to the dominating presence of Bright Food Group, BrightCode would play a major role in changing people’s perception of food and consumption habits in China.

due to the dominating presence of bright food group

VeChain conveyed an instance of BrightCode’s effectiveness. The blockchain platform indicated that BrightCode has been used to keep track of the entire lifecycle of products. The first batch of products to go live on BrightCode included the “Cupids Farm” milk. VeChain added that for “Cupids Farm” milk,  IoT devices were leveraged to collect data to avoid human intervention or errors. The data was verified and stored on the VeChainThor Blockchain.

In June, VeChain again made news about its collaboration with a consortium of companies to introduce Walmart China Blockchain Traceability Platform. VeChain clarified that the blockchain traceability platform was built on VeChainThor blockchain. The consortium includes Walmart China, China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin Co., Ltd., and VeChain.

VeChain concluded by sharing valuable insight. VeChain stated that BrightCode had set itself apart as a great example of implementing VeChainThor Blockchain. BrightCode’s approach could solve the trust issue caused by supply chain ecosystem. As a great highlight, the offer could restore consumer confidence in food and safety in China. VeChain asserted that it would work with BrightCode to extend application scenarios outside the food and beverage industry.