VeChain, along with Shanghai Xiando, a subsidiary of Bright Food, has co-developed Brightcode, a blockchain-based commercial ecosystem. The application has been developed based upon the concept of VeChainThor Blockchain’s next-generation BaaS platform - VeChain ToolChain. VeChain stated that the main motive of introducing this application is to ensure product safety and to create trust in the minds of the consumers.
The application was developed in the backdrop of tragic events that occurred over the span of the last few years, causing multiple deaths due to many scandals in the food and drug industry in China.
Many Chinese companies have been working on creating products, ensuring product quality and Bright Food has taken the first successful initiative to check the quality of its products and ensure trust in the minds of its consumers. Bright Food is a multinational juggernaut in the food and beverage industry and has 5 publicly listed subsidiaries. The company generated total revenue of $22.9 in the last financial year and it currently ranks second in China’s food industry.
VeChain was launched in 2015 and is focused on implementing blockchain technology to address real-world problems through IoT integration. The company has already witnessed a considerable amount of success and has partnered with numerous firms across varied industries. In their press release, VeChain has stated, “ Together with our strategic partners PwC and DNV GL, we have established many leading enterprises in different industries including Walmart China, BMW, Haier, BYD Auto, etc.”
Brightcode witnessed its first application in the food industry to monitor the lifecycle of food products. Cupids Farm milk was the first batch of product that was monitored through Brightcode. It uses IoT technology to store data and makes it available to the end-users.
VeChain stated that this new initiative would create trust among the consumers regarding the quality of the products. Provided the current trends in China's food industry and with the backing of Bright Food, the application is expected to be a huge hit.
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