VeChain, the top layer 1 business blockchain platform and TruTrace Technologies, a SaaS platform based in Canada have signed a strategic partnership to increase the use of blockchain to assure product provenance and authenticity on August29.
The direct connection between TruTrace and VeChain ToolChain will enable TruTrace to provide a seamless and rapid way for companies dedicated to product quality and authenticity to begin utilising blockchain in their business. The initiative will happen without the need for costly expenditures in network infrastructure or cryptocurrency administration.
The Canadian SaaS platform has also adopted the VeChainThor blockchain to demonstrate how it protects businesses and consumers from fake and/or harmful items in the supply chain sector.
Due to this collaboration, starting on September 1, the TruTrace platform will be enhanced to include VeChain (VET). The UFC, one of the most popular and widely watched sports in the world, is also featuring VeChain.
CEO of TruTrace, Robert Galarza, stated:
“When we began the development of TruTrace, our mission was to serve as an interconnected blockchain-secured product registry and traceability solution which could bring all stakeholders together and serve to track and manage variabilities from batch to batch and lot to lot.”
TruTrace’s blockchain-based SaaS software was originally designed for the legal cannabis industry to clarify the seed-to-sale process for all relevant stakeholders, including producers, distributors, shippers, government agencies, and consumers, by strengthening commercial standards through an immutable, shared ledger.