VeChain is the future of China’s Retail Consumer Brand Digital Summit for companies

ByBhupender Singh

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VeChain Reebonz

  • VeChain CMO spoke about the relevance of blockchain+ to brand retail in the green digital era at a recent event.
  • VeChain’s sustainable carbon management solution can help companies achieve “net zero” carbon emission goals in the shortest possible period.

On October 20, VeChain CMO, Gong Diyun, spoke about the deployment of blockchain to unlock a trusted perspective of brand retail in the green digital era. Diyun delivered this speech as one of the keynote speakers at the recent China Retail Consumer Brand digital co-creation Summit in Shanghai.

VeChain was one of the blockchain firms invited to this event. In addition, VeChain was one of the first set of blockchain firms licensed by China’s national cyberspace administration. Attendees at the event include top-level executives from commercial real estate, retail brand stores, and shopping malls.

In her speech, Diyun said blockchain is an ideal digital tool for all sectors, including supply chain collaboration in the retail industry. The VeChain CMO cited examples of various applications of blockchain technology, such as authenticity verification, food safety traceability, product anti-counterfeiting, and sustainable carbon management.

Related: VeChain: 20th of October will be history-changing for the VET blockchain and the whole community

Diyun added that blockchain technology solutions would cause industry involution. Thus, bringing new perspectives and experiences for brands and their consumers. The VeChain CMO further said business guidance technology is the solution to the broader application of blockchain.

She explained that breaking the barriers between commercial applications and blockchain technology requires combining custom tools and standardized products. Diyun admitted that blockchain technology is currently not mature or perfect. But she argued that it would improve as it overcomes challenges, with improved regulatory standards and proper compliance.

The VeChain blockchain solution

The VeChain CMO also shared ways the blockchain can help retail enterprises shape a new customer experience journey and mine data value from infrastructure. Blockchain technology can help enterprises achieve the full-link traceability of retail products.

This will be a solution to the long-term contrast in data share and data privacy across all sectors of the supply chain. Also, the technology can help achieve the anti-counterfeiting traceability of products. This is possible because it is impossible to tamper with the trusted data on the chain.

In addition, VeChain’s carbon management solution can record and calculate the total life cycle of retail products. It can also do the same for its carbon emissions in supply chain transportation. Thus, retail firms can have net-zero carbon emission goals within a short period.

Providing customer satisfaction would be a must for brands, especially those in the customer-focused business. Blockchain technology can smoothen information across the supply chain until it reaches consumers. Similarly, the technology promotes brand trust and helps them establish their brand status quickly.

Furthermore, emerging technologies bring about creative interaction methods which attract new customers. Hence, brands can use technological innovation to break industry involution and build trust to maintain customer stock.

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