Vonechain Technology: A host of mature blockchain solutions for various industries

83%of respondents of the Global Blockchain Survey 2019 by Delloite ‘see compelling use of blockchain’ in their enterprise. Increased maturity of blockchain solutions (from 2018 to 2019) is another highlight of the survey. However, there are still apprehensions about adopting blockchain technology and for some, it seems an overhyped solution. While blockchain is likely to follow the traditional path of maturation and self-discovery, Shanghai based Vonechain Technology is already making deep inroads and has already proved to be a capable blockchain solution provider across industries which include finance, energy, agriculture, medical, education, and fast-moving goods to name a few.

“Blockchain is an integrated technology which serves more as the underlying technology,” says Terry Liu, CEO of Vonechain Technology. From proliferation of fake and inferior products to lack of data security and privacy protection during sharing of IoT data, Vonechain’s blockchain solutions have been able to help their clients implement blockchain. This is how Vonechain works: via their Advisory services, Vonechain experts provide insight into feasibility of blockchain implementation for their clients. It also includes management consulting, business restructure program, and technical selection. Through their Implementation Services, Vonechain will begin with node building, designing and development of application and smart contract. Operational services include operational planning, helping companies adhere to consortium regulations, and expansion strategy. “Our blockchain technology is matured enough to provide services for enterprises,” adds Liu.

Established in 2016, Vonechain is well versed with how to provide services for enterprise users via blockchain. Take the case of their Tracing solutions where information of different community circulations that participate as subjects will be stored in blockchain after digitization. “Information of subjects that involve all processes of product, including place of origin, manufacturer, distributor, retailer, brand dealer and consumer can be searched in blockchain,” explains Liu. “This ensures transparency of product information, traceability of any phases during the process and product credibility.”

What about the efficacy of the solutions? An interesting case study sheds light on this. ZTE Corporation, China’s leading telecom equipment manufacturer wished to utilize the “untampered and traceable” characteristic of blockchain and combine the company's huge resources in the entity industrial layout. Vonechain utilized consortium chain Hyperledger Fabric to establish consortium on chain, build data sharing nodes of supply chain participants and set up various data verification nodes for supply chain participants with high informatization ability and level. Result? “ZTE was able to overcome difficulties of compiling business data with different information levels and highly reduce compiling cost of data,” informs Liu. “Authenticity of data has greatly improved and formed effective linkage with the regulatory department.

While blockchain solutions are still maturing and have higher uncertainty, Vonechain team has formed their own delivery method by referring to experience of advisory industry such as risk miscellaneous mechanisms in the finance industry. Based on this method, Vonechain promises to deliver basic and usable systems to clients even under the worst situation. In addition, the company not only provides offline business solutions, but also provides support and services for online blockchain courses. Vonechain Technology has launched a fabric development training course by cooperating with Hyperledger and officially becoming Hyperledger training partner after passing Hyperledger review successfully.