VeChain made an impressive display of its blockchain’s capabilities during the Chery Jaguar Land Rover Tech Fair in Changsu, China. Some of the largest global tech industries, including Microsoft, IBM, Amazon AWS, Accenture, GE, and China Unicom, attended the event. VeChain’s project manager, Tian Xinli, made a great show of what VeChain’s blockchain based solutions for the automotive industry can do.
Key to Tian’s introduction was VeChain’s Digital Low Carbon Ecosystem. This feature, amongst other top-notch blockchain solutions for the auto industry, caught the eye of prominent vehicle manufacturer Chery Jaguar Land Rover.
The platform’s novel Digital Low Carbon Ecosystem is the IoT and blockchain’s solution to reduced carbon emissions. The platform, therefore, enables its users to earn from their efforts to cut down on the emission of green gases. Consequently, with the current vehicle design trend focusing on environmentally friendly motoring systems, this solution is bound to bring on increased interested in the blockchain.
VeChain Is Increasing Its Strategic Partnerships
The blockchain platform, nonetheless, has been around this block and consequently has impressive partnerships with top vehicle manufacturers such as BMW. The German automobile giant, in particular, worked alongside VeChain to release a digital vehicle passport known as VerifyCar. Its main aim is to help eradicate odometer tampering, which is a prevalent vice in Germany.
Known as one of the most well thought out blockchain platforms, VEChain has been around since 2015. Its founder, Sunny Lu, was a CIO at Louis Vuitton China. In addition, the platform has over the years, marketed itself as the premier product management token.
It aims to disrupt the product supply chain with faster, efficient, affordable, and immutable blockchain managed product supply chains. This should assist product manufacturers in interacting transparently and interactively with products via smart contracts.
VeChain’s successes in this area could, accordingly, eradicate counterfeits, increasing brand protection and food safety for all benefactors on the product supply chain. As a result, VeChain has amassed a vast following in terms of partnerships, which includes patronage from companies such as H$M, PriceWaterhouseCoopers, Kuehne & Nagel, Bright Food, and DB Schenker.
VeChain’s Opportunity To Build
Its coin made a switch to its own blockchain from an ERC-20 token in 2018, and it rebranded to from plain VeChain VEN to VeChain Thor VET in a transformative event the team behind it named the VeChain Apotheosis. Its price has however crashed from highs of $8.46 to lows of $0.004.
The coin has a result experienced a series of mini bull runs that could be signifying its slow and steady rise. Additionally, since it has impressive strategic partnerships, therefore it soon might be the digital currency to watch. Meanwhile, commentators saw last year’s slump as an opportunity to build. Taking to twitter, Crypto Briefing posted what perhaps could be VeChain’s strategy saying:
“While you were complaining about the price, VeChain saw crypto winter as an opportunity to Build. From BMW to Bright Food, here are some of the enterprise applications emerging in the VET ecosystem.” So impressed was VeChain’s Sunny LU, VeChain that he retweeted this note adding his own: “The adult world is different.”