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NEW VECHAIN PARTNERSHIP WITH COFFEE GIANTS!

 


VeChain partnership with coffee manufacturer

The well-known Chinese coffee brand YongPu Coffee wants to use blockchain technology for monitoring distribution channels in coffee production and traceability of goods. In this context, the company will use the VeChain blockchain.


The YongPu founder also stated that the adoption of VeChain technology will increase customer confidence in the brand. It also improves customer engagement and makes marketing activities more open and transparent.

According to various data, the coffee industry in China has experienced massive growth, with the current size reaching 100 billion yuan. This value is expected to increase to over 1 trillion yuan within 3 years. As the industry has grown, new brands have also entered the competition.


As a result, any chance to get a head start is something any brand will happily seize, including the opportunity to promote greater brand transparency. The VeChain partnership shows a clear direction towards blockchain technology.


According to YongPu founder and CEO Hou Tiepi Yongpu, coffee brands can only boast of more rights if they own the supply chain and the raw materials for production. This in turn can be achieved through a solid supply chain based on proper oversight of distribution channels.​


What is VeChain?

VeChain is a blockchain-based platform that records everything about what is happening at each stage of the supply chain. It combines physical tracking with blockchain records to keep track of real products from production to delivery, preventing fraud and increasing transparency. The VeChain partnership with the Chinese state-owned company starts here.


Counterfeit high-end goods cost the luxury industry in Germany 315 million euros in 2021 alone. VeChain satisfies consumers' need to ensure the authenticity of their purchases and helps companies to be more transparent during the manufacturing and delivery process.


The way it works is simple: each product is assigned a unique identity and sensors are used to track what is happening at each stage of the supply chain. In this way, businesses can be sure that products are being handled correctly and consumers can verify that their purchases are genuine.

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