VeChain cooperates DB Schenker: Blockchain for Logistics

Using blockchain technology, VeChain Foundation continuously aims at refining and adding value to the scope and development of their VeChainThor platform
12 June 2018   672

For the construction of the platform with holistic capabilities, VeChain Foundation is to involve the best service providers in the world, goods distributors and global experts into their platform’s ecosystem. All these things are necessaey to ensure the integration of as much business processes as possible. The Blockchain’s flexibility and power let the firms to create tailor-made resolves which can assist in overcoming their existing business issues. One of those solutions has now been co-worked with DB Schenker, one of the world’s leading global logistics providers.

DB Schenker is the transport and logistics enterprise branch of Deutsche Bahn. With a highly developed network of over 68,000 logistics experts in 2,000 locations, DB Schenker suggests comprehensive supply chain management resolutions, efficient air, ocean, rail and land transport as well as contract logistics around the globe.

Partnering with the third-party logistics providers in China, DB Schenker can propose extensive and integral logistics solutions across China for any industry and trade. Nevertheless, the huge potential of such a comprehensive logistics network is litigated by the complexity of measuring the performance and service quality of their business partners.

For that matter, DB Schenker has deployed a providering evaluation system with VeChainThor platform. This is the first time that Blockchain is used for supplier management aims. VeChainThor blockchain estimates the business partners based on collected data and lets DB Schenker to improve the service of the suppliers. The system and its related applications in the future will be able to potentially evolve into a platform widely shared and co-created by a broad range of logistics service providers.

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   122

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.