VeChain Is Leading Co-sponsor of GDST Seafood Trackathons

SHANGHAI,Oct. 15,2019 -- The need for an industry-driven,technology-agnostic global framework for seafood traceability was first publicly recognized by the World Economic Forum's Global Agenda Council on Oceans in 2013. It points out that 20% or more of fish catch results from "illegal,unreported or unregulated" fishing,and thus escapes basic fisheries management. The growing market demands also add to enterprises' interests in improving transparency within seafood supply chains. To meet the increasing requirements,it's necessary to standardise business practices and harmonise regulations to promote interoperable traceability within the seafood sector.

The GDST is set to hold its second and third Seafood Traceability Hackathons in Cologne,Germany from 21-22 October and in Bali from 26-27 October,2019. Supported by multiple leading organizations and enterprises in the industry,such as GS1 Germany and USAID Oceans and Fisheries Partnership,the hackathons serve as a grand gathering of real businesses and a platform that boosts the development of valuable applications that can be used to solve real problems facing the industry. GDST's mission is to establish an international business-to-business framework capable of supporting a variety of technologies and solutions to bolster inter-cooperation on seafood traceability practices. The initiative is co-convened by WWF and IFT's Global Food Traceability Center.

VeChain,the world's leading public blockchain platform,will support this cause and is the sole blockchain sponsor of both hackathons. The GDST has placed Blockchain Integration as one of the four major categories for contestants,which is a testament to the legitimacy and value-added contribution by blockchain in the traceability industry.

VeChain will share with the Hackathon contestants its expertise in blockchain-powered traceability solutions that can be applied by a broad spectrum of seafood industry stakeholders from all parts of the supply chain. The winners of the Hackathons will be awarded prizes that includes prize value up to 10,000 EUR cash equivalent to support their efforts in developing innovative blockchain applications. As an added bonus,top participants will have an exclusive chance to be included in the VeChain's accelerator and bounty programs connecting them with the large network of the VeChain Ecosystem.

More than 60 producers,processors,and retailers from across the world will be brought together to have in-depth discussions on seafood traceability. VeChain's Europe Project Manager and technology expert,Arnaud Bauer,will introduce how to develop effective applications based on the VeChain ToolChain APIs or the VeChainThor Blockchain. With DNV GL's extensive experience and expertise in blockchain technology adoption,participants will find it easier to build and leverage blockchain-based applications to empower their businesses.

Over the past years,VeChain sees itself as an enabler in the blockchain ecosystem. With the release of the VeChain ToolChain,a powerful product that allows enterprises and individuals to adopt blockchain technology effortlessly,the technical hurdles to integrate blockchain technology is no longer an obstacle for businesses and enterprises. Participants in the hackathon,regardless of their proficiency in blockchain technology,will be able to develop applications that leverage blockchain technology smoothly.

Apart from efforts to transform the Food & Beverage,LNG,Fast Fashion and Luxury industry,VeChain has been steadily branching out into more sectors,and will involve more users who are devoted to efficient traceability efforts. VeChain hopes to attract more builders with the hackathons to develop real world applications in the VeChain ecosystem and create more valuable transactions.

Don't miss out on the GDST hackathons,come and join the leaders of seafood traceability industry and find out yourselves how VeChainThor Blockchain can be used to facilitate the real economy.

To register to participate in the Seafood Traceability Hackathon: traceability-dialogue.org

About GDST

The Global Dialogue on Seafood Traceability (also referred to as the Dialogue) is an international,business-to-business platform established to advance a unified framework for interoperable seafood traceability practices. The Dialogue brings together a broad spectrum of seafood industry stakeholders from across different parts of the supply chain,as well as relevant civil society experts from diverse regions.

About VeChain

Launched in 2015,VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure,a robust economic model,and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology,with international operations in Singapore,Luxembourg,Tokyo,Shanghai,Paris,Hong Kong,and San Francisco. Together with our strategic partners PwC and DNV GL,we have established cooperative relations with many leading enterprises in different industries,including Walmart China,BMW,BYD Auto,Haier,Bright Food,D.I.G,DB Schenker,PICC,etc.

For more information about VeChain,please visit vechain.com.

For news inquiries,please email to press@vechain.com.

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