Blockchain in the sky? VeChain lands! The world’s largest freight company signs a service contract with BitSE, a blockchain technology pioneer

(Shanghai, September 13, 2016) Recently, the world’s largest freight forwarding company and BitSE, a blockchain technology pioneer, have signed a BAAS (Blockchain as a Service) service contract in the field of VeChain asset management. Using blockchain technology to track and manage freight assets, the freight forwarding company will provide leading logistics services involving multiple parties to global customers. This is the first blockchain service project to truly achieve commercialization.

Strong cooperation

As one of the world's largest freight forwarding companies and also the world's largest public carrier without wheel operations, its business scope covers Europe, America, Asia and Africa. It is committed to providing high-quality integrated logistics services to the world, mainly covering sea transportation, air transportation and third-party logistics. It has more than 1,000 branches in more than 100 countries and regions around the world, formulating and implementing different transportation needs for customers from different industries according to different goods.

Founded in 2013, BitSE is an innovative enterprise dedicated to innovating the industry by applying blockchain technology. The company's founding team comes from world-renowned companies such as IBM, Alibaba and Louis Vuitton. The team has rich experience in technology, products and markets, and has core R&D teams from 9 countries around the world. It was the first to propose the concept and idea of ​​Blockchain-As-A-Service. Its product VeChain has become famous and its wide range of applications has attracted much attention from the industry.

While using VeChain to serve the freight company, PwC will escort all the way, providing business process design and project management services. We are committed to assisting corporate clients in coping with new technologies, developing new businesses, maintaining corporate integrity, and jointly creating forward-looking one-stop innovative solutions and technical support for customers, accelerating the practical application and specific implementation of blockchain technology in China.

Technology Achieves Customized Services

The cooperation model provided by BitSE is tailor-made, and its main purpose is to help its existing and future potential customers, especially those in the luxury industry, to safely and effectively manage high-value but non-commercial assets. For example, printed one-time product brochures and brand furniture that can be reused but often transported to other places will all be traced through the VAM (VeChain Architecture Management) system built by BitSE for freight companies to track the real-time information of these assets under the brand, truly achieving no restrictions on location and time, and full control.

The bottom layer of core technology was developed by BitSE’s international technical team from nine countries. The second layer is the business function module layer, which is implemented as the application-driven logic, including SKU management module, inventory management module, order management module, permission module, user module, and VeChain module. The top layer is the user interface layer, which is directly facing the end users, including search portal, browsing portal, order portal, SKU management portal, operator APP portal, etc., truly realizing integrated blockchain technology services.

BitSE has provided blockchain-based logistics management platform services for the tracking, tracing, warehousing and management of high-value non-standard goods owned by the world's largest freight company's brand customers around the world.

At present, the industry is debating whether the application of blockchain in the financial industry is mature. In fact, the actual application of blockchain in non-financial industries has already come to us. With the supply chain, commodity circulation, traceability and other applications will surely become an indispensable part of the future life of you, me, and everyone else.