- Vechain taps Boston Consulting Group (BCG) with a new collaboration to rectify sustainability limitations.
- The partnership will allow for the development of Blockchain Biospheres; a solution to some of the industry’s biggest challenges.
The Vechain network is strengthening its position across the globe as a sustainable blockchain network attempting to bridge the gap between environmental sustainability and blockchain technology. The network recently collaborated with Boston Consulting Group (BCG), a leading firm focused on implementing business strategies from promising businesses.
The collaboration seeks to amplify the firm’s interest in integrating blockchain technology into sustainability initiatives. At its core, the partnership will center on Environmental, Social, and Governance (ESG) guidelines.
The partnership does not only position Vechain as a firm committed to pioneering greener energy in the blockchain industry, but it also highlights the firm’s ability to intersect with other promising businesses, to bring its plans to fruition.
Notably, members of the blockchain community have continued to amplify the significance of sustainability in the blockchain and cryptocurrency market. Conversations surrounding green energy intensified after traditional investors critiqued the role that blockchains play in increasing the global Carbon footprint.
In its attempt to reframe the narrative, Vechain has previously collaborated with many different organizations to develop greener alternatives to existing problems in the blockchain industry. Its recent partnership with Boston Consulting Group (BCG) is no different.
Blockchain Biospheres aims to strengthen sustainability for business ventures
The development of Blockchain Biospheres is at the forefront of this partnership. By tackling existing sustainability problems through this approach, supply chain management and the ability to trace significant environmental data can be enhanced.
Highlighting the importance of its previous collaborations with BGC, Vechain, in a LinkedIn post stressed the need for a greener future. They stated:
Greener future, Smart manufacturing, economic incentivisation, sustainable resourcing and effective recycling, powered by blockchain, are unlocking a new paradigm for the global economy.
Vinay Shandal, the Head of Climate and Sustainability Practice for Boston Consulting Group, recently spoke on the importance of Vechain and BGC’s collaborative efforts.
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According to Shandal, firms like Vechain are necessary for BGC to execute impactful actions as the company commits to adopting sustainability. He asserted:
Sustainability is top of the agenda for us – partnering with an organisation like vechain is absolutely part of the solution.
Blockchain Biospheres are designed to change the game of businesses as they offer a one-of-a-kind solution for businesses. Particularly, Blockchain Biospheres will help businesses and firms aiming to adopt sustainable approaches to solve their existing problems.
Biospheres will offer a secure pathway for businesses to store and verify sustainability-related data which could include product lifecycle. The data can later be distributed seamlessly in an eco-friendly manner.
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