Analysis of VeChain’s four major modules in logistics and supply chain

Baozou Comment : In addition to finance, logistics and supply chain are also important use cases in the blockchain field. In this regard, VeChain, a leading company in the domestic blockchain industry, has conducted a lot of exploration. VeChain can be said to have the most luxurious entrepreneurial team among domestic blockchain companies, and it also has many unique features in technology, which makes many people curious and expectant about the company's development. VeChain will introduce the company's situation and latest progress at the Demo Day of this year's Blockchain International Week.

Reporter: Pencil lead

VeChain is a commodity ID management cloud platform based on blockchain technology, providing enterprise users with commodity asset management, tracking and tracing, anti-counterfeiting verification, new supply chain management, etc. in the form of BaaS (Blockchain As A Service). With the continuous development of products and the needs of corporate customers, four modules have been gradually developed: VAC (Vechain Anti-Counterfeiting) anti-counterfeiting module, VAM (Vechain Asset Management) asset management module, VSC (Vechain Supply Chain) supply chain management module and VCE (Vechain Client Experience) consumer experience module.

Starting from the characteristics of blockchain technology and combining the pain points of international customers' business operations, the VeChain team provides customized BaaS services (Blockchain As A Service) for international customers based on VeChain's core module VAM (Vechain Asset Management). In the logistics process, it helps companies better track and manage their customers' goods, greatly leveraging the two characteristics of blockchain: data immutability and traceability.

VAM has a three-layer technical architecture:

The underlying VeChain blockchain (including smart contracts, blockchain operation nodes, management nodes, mining pools, blockchain browsers)

VeChain blockchain standard APIs

AM application module

VAM is based on the actual needs of customers, and its application modules include the following core components:

1. Digital ID module - responsible for the generation, printing, management and blockchain registration of the unique digital ID of the corresponding commodity assets

2. Product management module - creation, maintenance and inventory query of product information

3. Logistics order module - end users dispatch logistics tasks for their commodity assets

4. Customer Service Management Module - Logistics customer service manages customers' logistics task orders

5. Logistics operation and maintenance module - users scan and identify commodity assets through the mobile app, and perform corresponding operations such as outbound, inbound, and distribution.

When VAM initially establishes commodity asset inventory, it will allocate a unique ID and record it on the blockchain. At the same time, through various levels of application modules and standard VeChain API, the key operations and commodity asset data generated by the application modules will be written into the blockchain through smart contracts, thus realizing the logistics tracking system of commodity assets.

In addition to the implementation of blockchain technology by the VeChain team, PwC, as the exclusive strategic partner of the VeChain team, has carefully created risk control and consulting services around VeChain's BaaS service to safeguard VeChain's implementation from the enterprise operation level.

The implementation of VAM is only the first step for multinational companies to explore the application of blockchain technology. In the future, with the continuous development of technology and products by the VeChain team, the application scenarios can be further deepened in logistics management and supply chain management, such as the application of smart contracts in supply chain finance, accelerated confirmation of capital flow in logistics, tracking of international freight, and even promoting the development of the Internet of Things.