VeChain To Power Shanghai eGrid Consulting’s Automobile Sol.

VeChain has announced that it has entered into an agreement with Shanghai eGrid Consulting Co., Ltd to integrate the blockchain technology company’s existing automobile solution with the latters automobile ERP, SCM and CRM solutions. Shanghai eGrid Consulting Co., Ltd. provides data services to large domestic and overseas companies, including state-owned enterprises.

Under the partnership, Shanghai eGrid will leverage VeChainThor by applying it to their entire business model. The manner in which VeChainThor offers secure IoT and proof of origination enables decision makers to apply a different range of metrics. In fact, VeChain’s car maintenance solution extends much beyond the maintenance of a vehicle.

VeChain also provides onboard IoT solutions that reveal driving habits of a person, including frequency of brake use per 100km, acceleration, and many more metrics. This would serve as a crucial data while preparing insurance packages, as well as provide valuable inputs to car and spare part manufacturers. With VeChain, all relevant data pertaining to a car, including materials, manufacturing, logistics, care, resale, and recycling can be recorded on the blockchain to create a highly efficient automobile ecosystem that empowers a data owner.

Someone who buys the data will have a clear idea about the vehicles’s past, right from the time it was in the distributor’s showroom. More importantly, a buyer can acquire the complete data pertaining to a vehicle or a portion of it, as per the requirement. For example, an insurance company may prefer to look at the maintenance and accident history of the vehicle as it would enable them to provide a better insurance quote to the vehicle owner for next year. The entire process results in a reduction of labor and costs, without compromising on data trustworthiness. The users would see a reduction in overhead costs.

The data provided by combining the digital car maintenance solution with VeChain’s green driving and carbon banking solutions will be invaluable to multiple ecosystems, decision makers, and regulators. VeChain believes that it has successfully landed in a partnership with Shanghai eGrid Consulting Co., Ltd because of the advantages discussed above.

eGrid, which was founded in 2006, became a public listed company (NEEQ Stock Ticker: 831938) in 2015. eGrid builds complete intelligent manufacturing solutions for clients that adhere to their independant innovations and existing software uses. With this partnership, eGrid will have 14 software copyrights, up from five at the beginning of this year.

The prominent customers of eGrid include
• SAIC General Motors Corporation Limited
• SAIC Volkswagen Automotive Co., Ltd.
• BYD Auto Co., Ltd.
• Chang’an Automobile (Group) Co., Ltd
• Changan PSA Automobiles Co., Ltd.
• Dongfeng Motor Corporation
• Tsingshan Holding Group
• Chongqing Jianshe Vehicle System Co., Ltd.
• Isuzu Motors Ltd.
• Jiangling Motor Holding (Landwind)

Through the combination of VeChain’s IoT solutions and VeChainThor, VeChain can increase the strength of all industries while decentralizing power and empowering data owners. The power of VeChainThor continues to grow by drastic measures and has solidified itself as the leading global enterprise public blockchain platform.