VeChain and Fanghuwang strike key partnership

Fanghuwang is looking for several key outcomes from the partnership:

• Collecting and managing client data more efficiently and with fewer errors.
• More efficient use and sharing of client data, using the blockchain to compliantly manage and share data across multiple parties.
• More secure data storage.
• Reduced costs across all involved parties, such as related banks and the Notary Public Office.

Blockchain technology, in general, seems well suited for these outcomes. Digitisation can help improve efficiency, reduce error-rates and allow for easier verification of data across the board, while blockchains also allow for easier sharing of only key pieces of information, for a wider range of applications, without compromising client confidentiality.