VeChain Co Founds The Belt and Road Initiative Blockchain Alliance

The 3rd Belt and Road Initiative (BRI) Forum of Tsinghua University, guided by the People's Government of Shanghai, Tsinghua University and the China Association for Social Workers, has been successfully held in Shanghai from December 19 to December 20.

At the Forum, VeChain, together with DNV GL, The Belt and Road Initiative Research Institute of Tsinghua University, Industry Internet Research Institute (under the Ministry of Industry and Information Technology of the People's Republic of China), Tus Data Asset, and China Silk Road Group Limited, established the The Belt and Road Initiative Blockchain Alliance (hereinafter referred to as "BRIBA"), to spur the development of the BRI by leveraging the blockchain technology.(News source from people.cn, a Chinese state owned media)

The BRI is a global development strategy adopted by the Chinese government, involving 136 countries and more than 30 international organizations across Asia, Europe, the Middle East, and more. According to Chinese state council, by the end of August 2019, the Chinese government had signed 195 Belt and Road cooperation documents, covering business on a global scale.

The BRIBA members are all pioneers in their area. The Belt and Road Initiative Research Institute of Tsinghua University outstands as an elite think tank supported by the prestigious Tsinghua University (Ranked 1st in China and 16th in the world in QS University Rankings 2020, and is the alma mater for many senior government leaders and officials, including President Xi Jinping), and the China Silk Road Group Limited is a business group covering finance, satellite Geo-information, energy, etc., and has close contact with governments and service industry organizations at home and abroad. DNV GL is the leading provider of risk management and quality assurance services, and is the global leader in certifying management systems of companies across all types of industries. Tus Data Asset, a state-owned blockchain technology company, has the expertise in data sharing services for government services, health care, finance, and education.

The Alliance is established to assemble all resources from the members and later joined members, to power more BRI infrastructures, business, and projects by blockchain technology.

VeChain's footprint has spread across 7 countries including China, Italy, France, Singapore, the United States, Luxembourg, and Tokyo, gathering talents from various countries. International diversity and localization experience have both been VeChain's competitiveness, which will be valuable for the BRI.

During the past 4 years, VeChain is dedicated to promoting the development of blockchain technology from the technical consensus to the business consensus, and has been accumulating experiences in blockchain adoption in real world use cases all over the world. My Story™, the digital assurance solution built on VeChainThor Blockchain, launched by DNV GL, has traced prominent Italian wines including Ricci Curbastro, Ruffino and Torrevento, which shows the trust and positiveness of blockchain deployment in Italy, who has signed agreement to join BRI this year.

Considering all aforementioned advantages, VeChain will play an important role in the BRIBA to provide blockchain technology infrastructure, abundant localization industry experience, and technical consulting services, to achieve broader implications and success, especially overseas. For multi-party partnerships between BRI members, blockchain technology will bring transparency and sufficiency to achieve win-win collaboration.