Article 1 of 4 - Understanding ToolChain: VeChain’s Blockchain as a Service Solution for Any Business



  • With increased globalization and the digital age upon us, it is becoming increasingly more competitive in the business landscape everyday. Corporations must continue to implement new technology such as the Internet of Things (IoT), high speed 5G Networks, Artificial Intelligence (AI), and Blockchain Technology in order to maintain growth moving forward. VeChain’s new enterprise platform, ToolChain, is a cutting-edge solution that allows companies to streamline their business practices in multiple ways.

    VeChain allocated a team of 60 people specifically for the development of ToolChain and after 3 years ToolChain was announced at the VeChain Summit in San Francisco on April 18th, 2019. Its development was created for enterprises to offer a turnkey solution to mitigate high costs and to make it simpler for business professionals lacking expertise and complex technical capabilities. Turnkey projects are built and sold to any buyer as a completed product in a different way than build to order products. Build to order solutions are generally built to a customer’s exact specification and have the capability to be adapted in any way the client deems fit.

    ToolChain is a BaaS (Business as a Service) blockchain platform that offers a diverse range of services that can be used by nearly any business around the world. These services help deposit, process and certify data on the blockchain and allow enterprises to streamline supply chain management and product lifecycle management processes. Blockchain technology such as ToolChain is quickly becoming an essential component of businesses that strive to get ahead of their competition and to help enhance their reputation in the eyes of customers. The ToolChain platform was been built in 3 different versions (standard version, developer version and partner version) to satisfy the needs of diverse business types.

    ToolChain Standard Version

    The ToolChain standard version is utilized for supply chain management, as an anti-counterfeit solution, and for the traceability of products and services on the blockchain. The standard version can be used easily by nearly any business to track and maintain the integrity of their supply chain because it has minimal or no computer code.

    The ToolChain standard version comes with a VeChain ID purchasing module in the form of NFC and RFID chips as well as a QR Code printer for generating its own QR codes. The NFC chip is used to create digital labels for products, so it works in unison with the QR Code scanner and RFID chips to connect IoT technology and other special censors directly to the blockchain. Also included in this version of the kit are handheld terminals that allow ToolChain applications to gather important data needed to configure and activate NFC chips.

    This BaaS kit helps businesses link their products through the VeChain Work and VeChain Pro mobile applications to the VeChainThor Blockchain. This allows companies to track their product’s locations and other specific data so they can be tracked all the way along the supply chain process. Customers can obtain similar data by scanning products before purchase using a QR code or NFC chip. The ToolChain standard version also comes with product, logistics and business management modules as well as separate modules for personnel, institution and access management. This helps companies keep track of their products and identify other important data to help streamline their supply chain and business practices as a whole.

    ToolChain Developer Version

    The developer version of the ToolChain kit is utilized specifically for software developers that want to use various types of Software Development Kits (SDK’s) and Application Programming Interfaces (API’s) (including specialized developer documents) to build their own customized Decentralized Applications (dApps) on the VeChainThor Blockchain. The ToolChain developer solution also includes an API user guide to make it easier for developers to use unique Application Programming Interfaces. The SDK can also be used to scan a VeChain ID as a means to conduct safety verification automatically and manually by connecting to a smart phone.

    ToolChain’s developer version also has QR Code generating software built into the system and can utilize VID batch management by using a hand-held device. The VeChain ID purchasing model is also built into the software development system and is linked to QR Codes as well as NFC and RFID chips. This solution makes it much more efficient for developers to create software and saves corporations valuable time, resources and money.

    ToolChain Partner Version

    The ToolChain partner version allows channel partners to create a white-label re-branded product that is hosted on partner servers made to look like its own. One of the main features that makes the partner version stand out is its extensive customization capabilities for specific real-world uses. The partner version employs many of the same technologies that the standard version does, but it expands on them for more complex uses. These include enterprise, project and business management, as well, it makes it possible for the client to streamline access, institution and self-operated commodity management solutions. Tracking the entire lifecycle of products in multiple stages including production and processing, material procurement, logistics, storage and distribution is a very complex process.

    These solutions and others make it much easier for almost any type of business to customize exactly how they want to use ToolChain. The ToolChain partner version also utilizes the familiar VeChain Work and VeChain Pro Mobile Applications and includes the same QR Code Printing Software and the VeChain ID purchasing module that makes use of both NFC and RFID chips and QR Codes.

    The BaaS partner toolkit like the standard version allows enterprises to keep track of personnel and financial data that leads to a smoother decision-making process on many levels. ToolChain’s amazing capabilities enable entire corporations to run more smoothly, saving time, and money on a mass-scale, making this service invaluable to enterprises across the world. The ToolChain partner version also contains an independent deployment manual to help its users easier understand and use the system.

    By creating ToolChain and its 3 distinct versions, VeChain took a massive step in simplifying enterprise’s ability to track their supply chain management processes, to create highly customizable solutions for all aspects of their business and to build their own decentralized applications. Ease of use and efficiency for enterprises using Toolchain’s diverse range of BaaS products is paramount. As touched on at the start of the article, it is extremely critical for businesses globally to continue to adopt new digital technologies such as Artificial Intelligence, Internet of Things and Blockchain to separate themselves from their competition. VeChain understands the value of their innovative solutions to help businesses of all types in this regard. Blockchain technology builds trust and integrity that continues to revolutionize how we as a global society live our lives.

    VeChain Has Placed Itself at the Forefront of this Revolution.

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