UCO Network, the first blockchain-based ESG-focused biofuel platform and the VeChain Foundation, overseer of the world’s leading sustainability-focused public blockchain, VeChainThor, are thrilled to announce a long-term partnership to build infrastructure for the global used cooking oil industry, opening a plethora of new opportunities within the advanced biofuel sector.
UCO Network provides used cooking oil traceability solutions with a focus on automatic compliance with the European Union’s Renewable Energy Directive II.
The platform uses a combination of Blockchain and IoT technologies to mitigate the risk of used cooking oil supply chain fraud. After evaluating multiple Smart Contract platforms and their capabilities, VeChainThor was UCO Network’s Layer 1 Blockchain Partner of choice.
Meta-transaction features native to VeChainThor’s core protocol such as multi-party payment, multi-task transaction, controllable transaction lifecycle and transaction dependency make development much more user-friendly, meeting the scalability needs of UCO Network’s planned enterprise adoption.
VeChainThor’s wide range of open source tools, BaaS and turnkey solutions help startups like UCO Network integrate and develop blockchain without the need to start everything from scratch, at low cost and low lead time.
The PoA consensus mechanism also addresses UCO Network’s concerns of inefficient upgrade processes and wasteful uses of energy.
UCO Network and the VeChain Foundation’s full alignment regarding Environmental, Social and Governance goals have been decisive differentiators that contributed to the establishment of this natural and exciting partnership.
UCO Network — Trust, Transparency & Traceability Like Never Before!