Buy rumors, sell news
Buy rumors, sell news
- VeChain has made significant deals in the past few weeks, hitting its all-time high of $ 0.1975 on April 17th, making the giant leap to break above $ 1.
- The reason for this price recovery is closely related to the enterprise-level features that VeChain provides for its customers and the strong community surrounding the project.
- Big companies like BMW and Walmart (NYSE 🙂 China have recognized the value VeChain brings to the table and are investing in the project because of the immense value it brings to the supply chain
- This was largely responsible for the longevity of the project. In the future we could see that these big companies were creating their logs, which had new consequences for VeChain
VeChain is currently at its peak as it has attracted a lot of attention from key industry players. That attention is reflected in its pricing as it hit a new all-time high of 0.200 and is currently trading at $ 0.1975.
The functions contained in the protocol and in the customer base of large companies paint a very positive picture for VeChain and signal a huge jump in prices of up to 1 US dollar.
VeChain rubs its shoulders with the best
VeChain was founded in 2015 and is a platform that provides value throughout the supply chain process. The white paper states that the platform can provide users with all relevant information about a product such as storage, transportation and delivery.
It is also packed with a wide variety of business features that can be used to check the quality of the process from start to finish. To achieve this, VeChain uses intelligent chips equipped with sensors that are used to relay the necessary information to the blockchain, which can be displayed in real time.
This year, VeChain has completed a number of corporate-level partnerships and adoptions in a variety of use cases. The blockchain-based supply chain platform, which aims to use distributed governance and Internet of Things (IoT) technology to optimize supply chain management systems, has entered into a number of partnerships.
In a previous partnership with DNV, VeChain’s technology was also used on several projects managed by DNV. An organization committed to improving the safety and sustainability of its business.
VeChain’s blockchain solution is used by DNV to manage the data from projects with the Danish company ReSea and the Norwegian industrial company Hydro.
At the beginning of April, the VeChain team announced a collaboration with the software company Salesforce (NYSE :). The announcement stated that Daniel Nortje, Director of Strategy & Architecture at Salesforce, had successfully tested business adoption ideas on the VechainThor network.
Daniel Nortje highlighted the reason VeChain was chosen as the preferred blockchain, noting that:
The main advantage of working with VeChain was the ease of integration. VeChain offers a blockchain-as-a-service platform, so I didn’t have to provide an intermediate architecture myself. As far as I’ve seen, this is unique to VeChainThor’s public blockchain, and I found it a very good idea, especially for companies that don’t necessarily want to invest in more systems to maintain them.
As a direct result of the features, VeChain has a high level of customers and partnerships, including but not limited to Renault (PA :), BMW, PricewaterhouseCoopers (PwC), Bayer (OTC 🙂 China, Shanghai Gas, ASI Group and others
These partnerships have proven to be mutually beneficial as VeChain has received the world’s first 5-star blockchain service certificate and customers have taken advantage of the partnership.
Another example is the partnership between VeChain and Renault, which enables the automaker to create a digital vehicle maintenance book based on the blockchain that allows car owners and future car owners to access the vehicle’s repair history or mileage.
At the beginning of March, VeChain worked together with the NFT-related platform VIMworld. At the height of the NFT madness, the partnership also helped draw attention to vocational education and training, and prices have steadily increased. The positive advantages of these partnerships are reflected in the price of the VeChain token (VET).
From January to the present day, vocational training has increased by almost 1,000%. It starts the year at $ 0.01878 and is currently trading at $ 0.1985. Vocational training is currently the fourth largest crypto with a market cap of $ 12.7 billion.
Can a central VeChain compete against decentralized projects?
A good percentage of the population was loved by cryptocurrencies or strongly supported the asset class due to its decentralized nature. Truly decentralized cryptos are censorship-resistant and immune to interference by project managers.
The transfer of power from a central source to people was one of the strengths of cryptos. The GameStop (NYSE 🙂 versus Wall Street saga was a powerful reminder that the world prefers a decentralized management approach.
While most cryptocurrencies boast of decentralization, the same cannot be said about VeChain. While it is often said that VeChain opts for a semi-central framework, the network is more central than many people know. maybe up to 90%.
VeChain is based on a decentralized governance structure. However, everything in the ecosystem runs through centralized channels, eliminating the inefficiencies of the decentralized system and taking advantage of a centralized system.
While this blockchain project spent more time on enterprise adoption. The problem of centralization or decentralization has been a controversial issue. Knowing that the future is decentralized, what will the fate of VeChain be?
On the downside
- VeChain has announced a $ 1 million grant to the eNFT ecosystem
- This fund, titled VeChain Grant Program, is used to support innovation in the NFT and eNFT industries
- Up to $ 30,000 is earmarked for each application and can be transparently tracked on Github
What does the future hold for VeChain?
Nothing lasts and every run has to come to an end one day. While VeChain benefits from its innovations and strategic partnerships, there is always the possibility that at some point in the future these companies will decide to build their in-house systems to take on the functions of keeping the supply chain running smoothly.
We have seen that this scenario happens too often. A true example is Apple (NASDAQ :), which is disconnecting from Samsung (KS :), which provides the processors for its mobile devices. Slowly and steadily, Apple learned the ropes and in due course it was time to say goodbye to Samsung for making chips.
We could see this scenario play out between VeChain and its customer base in the future, and a real reason for the schism could be that VeChain is 90% centralized. Until then, investors can continue the bullish wave of VeChain, currently trading at $ 0.1975, until a report suggesting otherwise hits the media.
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