Vechain (VEN) is one of the cryptocurrencies that has so far secured long term lucrative partnerships. The Chinese based blockchain technology issued an ICO, the Vechain token barely a year ago. The token’s value has increased significantly and is in the top 20 altcoins in market capitalization, this has been fueled by strategic partnerships with companies like LogSafer. The China based organization deals with insurance in the logistics as well as risk management in the supply chain sector. LogSafer are working together with Vechain to incorporate the IoT and the growing scope of big data into current and future solutions within the over $40 billion insurance logistics involved business. This news comes amid a speculated bullish crypto market and is expected to have a positive impact as the fundamental value of the Vechain technology is put to practice in more vibrant sectors.
Vechain Platform; a success in secure digitization of Assets
The Vechain platform is one of the blockchain networks that currently have its roadmap focused on digitization of physical assets. This is expected to improve transparency and security of property in future. Vechain have a couple of distinguished products within their protocol that give the higher credibility in this scope;
- Digital tags that are tamper proof
Vechain has enhanced its security through an asymmetric encrypted protocol which protects the private keys of users form external attacks. The development team has built a protocol that uses the tag ID as a corresponding public key identified within the platform.
- Inseparable products & Tags
The platform uses a card once which means that specific products are linked to specific cards hence one cannot separate products from its digital ID.
- Records of ID on the Vechain Platform
As is the case with a couple of blockchains, registration of IDs within the platform has become a safety measure to ensure frauds are detected and minimal or no duplications to forge transactions. The Vechain network comes with a secure private key that is hardly accessible to fraudsters. It is expected that services to incorporate consumables that are normally on high demand will cost slightly higher due to frequent monitoring of QR codes.
Fundamental Value of the Vechain (VEN) Token
- High Adoptability
Investors’ and crypto enthusiasts have been keen on altcoins that have used the concept of smart contracts to improve modern forms of business. The Vechain token stands a chance of being adopted widely given its commitment in contributing to the growth of digitization of physical assets. People have in the past suffered from fraud as a result of records not being kept well but Vechain has so far received attention from big Chinese based companies in a bid to improve their infrastructure through the Vechain network.
- Major Partnerships
The Vechain token is on the track to reap huge crypto profits in the future from partnerships it has made so far. This altcoin is one of the cryptocurrencies that has been widely adopted in different sectors with a notable one being finance under the field of risk management. Most cryptocurrencies will react to small news or rumors about a partnership with much excitement causing prices to fluctuate than the expected variance. Vechain (VEN) has so far enjoyed this privilege by being on the spot when it comes to the good news of partnerships that excites the crypto markets much.
- Good terms with China regulations
Controversy from different governments regarding cryptocurrencies is not a new issue or risk in the crypto world, in fact it ranks among the top. Vechain is one of the lucky coins to escape the wrath of the Chinese government in a bid to regulate crypto. The token is currently traded without interference from governments as of press date which is a good sign of the coin being bullish in future.
The Vechain token currently trades at $3.10 with a market capitalization of $1,611,709,672 dollars. The small cap token is quite volatile with a standard deviation of 14.8%; this value can vary greatly at any time given the volatile nature of altcoins.Vechain (VEN) is traded in over ten coin exchanges with Lbank leading at an average of $41,067,100 within the last 24 hours. As of now there are 519.6 million in supply while the liquidity ratio stands at 0.14%.