VeChain, the leading enterprise-grade layer 1 blockchain platform, has sealed a strategic integration partnership with TruTrace Technologies, a Canada-based software-as-a-service (SaaS) platform. Collectively, both parties will utilize blockchain technology to better the supply chain industry.
TruTrace Adopts VeChain Blockchain
To accelerate blockchain adoption for authentication and provenance in the legal cannabis, food, apparel, and pharmaceutical industries, VeChain has aligned its technology with TruTrace’s blockchain-based SaaS platform, as revealed in a Monday announcement.
Per the announcement, “the direct connection between TruTrace and VeChain ToolChain will allow TruTrace to offer to those companies dedicated to product quality and authenticity, a seamless and rapid way to begin utilizing blockchain in their business, all without burdensome investments in network infrastructure or management of cryptocurrencies.”
The Canadian SaaS platform further embraced the VeChainThor blockchain to reinforce how it protects brands and consumers from being victims of counterfeit and/or contaminated products in the aforementioned supply chain industry.
Courtesy of this partnership, the TruTrace platform will be updated to feature VeChain (VET) starting September 1. VeChain is also being featured by one of the top and widely viewed sports in the world, UFC.
The announcement also showed comments made by Robert Galarza, CEO of TruTrace. He said;
“When we began the development of TruTrace, our mission was to serve as an interconnected blockchain-secured product registry and traceability solution which could bring all stakeholders together and serve to track and manage variabilities from batch to batch and lot to lot.”
“Although our confidence in the power of blockchain to support this mission never wavered, there were difficulties using this technology without onerous gas fees or being limited to permission-based systems. Fortunately, this all changed with the adoption of VeChainThor, which is a true enterprise-grade blockchain that understands how to bring value to clients at a reasonable cost with the ability to scale at a global level,” he added.
On the other hand, Jason Rockwood, General Manager for VeChain US Inc., noted that he believes the partnership “will bring VeChain’s technology to a wider portfolio of consumer brands.”
About TruTrace Technologies
TruTrace Technologies is a company on a mission to power the traceability of testing standards as well as the authentication of materials or ingredient sources used in the legal cannabis, food, and pharmaceutical industry.
Canada’s largest retail pharmacy chain, Shoppers Drug Mart, currently uses TruTrace’s platform as its underpinning technology infrastructure for traceability and accountability associated with its medical cannabis program.
It is also worth noting that TruTrace is the developer of fully integrated software that enables clients to store, manage, share and access quality assurance and testing details.