Blockchain platform VeChain has been selected to be among the first batch of partners for NTT Docomo’s 5G Open Partner Program.
NTT Docomo is Japan’s largest telecoms company with over 76 million subscribers. The firm’s recent launch of the 5G Open Partner Program is aimed towards fostering the industrial use of the latest generation of mobile networks by 2020.
Blockchain technology is set to have an impact on many industries. VeChain started by focusing on a sector that’s ripe for innovation, the supply chain.
VeChain’s technology can securely track and verify products. The problem of counterfeit goods in Asia is not only detrimental to the profits of legitimate businesses, they can also be deadly.
China’s Food and Drug Administration (CFDA) recently found that Chinese vaccine producers had manufactured thousands of ineffective vaccines, supported by fake documents. Those vaccines were destined for school children.
By combining VeChain’s technology with NTT Docomo’s 5G network, it could help to prevent similar occurrences in Japan.
In a press release, VeChain said:
“Our goal is to enhance and enrich our current data services capacity within traceability, supply chain management, and smartphones for our users.
With our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region.”
VeChain has since expanded its operations from just the supply chain to launching its own blockchain platform called Thor.
The company says with its enterprise-level platform it aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, advanced IoT integration, and to pioneer real-world applications.
VeChain is currently said to be ‘in close talks’ with another leading Japanese company.
What are your thoughts on the partnership? Let us know in the comments.