The 14th IOTE (International Internet of Things) 2020, which was scheduled to take place from July 29 to July 31, 2020, in Shenzhen, China, saw a new partnership budding between VeChain and Avery Dennison.
VeChain is a leading public blockchain platform that helps enterprises with blockchain solutions to meet their various business needs. Avery Dennison is a manufacturing company in Glendale, California, that specializes in developing various labels and functional materials. The two platforms collaborated to showcase the Blockchain Food Supply Chain Solution on the IOTE platform.
IOTE is considered as one of the most significant international platforms for sharing theories and applications of IoT (Internet of Things). It is one of the leading trade fairs for technologies in China and throughout Asia that help visitors to gain in-depth information about the latest technologies, products, and trends.
IOTE 2020 gathered more than 800 enterprises and around 130,000 professional buyers beyond the core sectors like retail, food, and automobiles. Avery Dennison Intelligent Labels and VeChain took this opportunity to showcase advanced Blockchain and IoT solutions in front of these vast groups of attendees at the international trade fair.
The COVID-19 pandemic has posed serious threats to the food industry where most of the food supply chains have “visibility gaps” between the initial suppler and the Internal systems of the clients. To bridge this gap, a blockchain-enabled food supply chain has been designed jointly by the Avert Dennison and VeChain. The blockchain-enabled food supply chain will have end-to-end visibility with the food supply chain that will offer full transparency and traceability to the customers.
The two platforms, namely, Avery Dennison Intelligent Labels and VeChain teamed up to showcase this ToolChain powered food chain supply solution on the IOTE forum. The IoT solutions will integrate real food products like fresh vegetables dairy products and other imported foods with digital identities so that they can be easily tracked.
Avery Dennison, with its smart label products and VeChain with its advanced blockchain and IoT solutions together, will make the food supply chain more effective by imbibing more trust and confidence between the various food brands and the customers. It will also enable food companies to understand the importance of end-to-end lifecycle management for various products.
The duo will offer full food value supply chain solutions that range from consulting, assessment, integration of digital services that will enable enterprises irrespective of their scale and size to manage their digital transformation.
IOTE 2020 saw a smart adaptation of the IoT applications and solutions merged into the ecosystem of the food supply chain. It will enable consumers access to safe and traceable foods across various eCommerce platforms. For this, the customers also don’t mind paying 37% extra premium to companies that can guarantee a fully transparent and traceable food supply chain.