- VeChain (VET) ranks as the top gainer amongst the top 20 cryptocurrencies on the market in the past 24 hours.
- VET trades 5.46% higher than on Tuesday as the price hits $0.011601 USD.
- Ranked 19th on the charts with a total market capitalization of $643,355,939 USD, a $40 million bump in the past 24 hours.
VeChain is championing the internet of things (IoT) technology in the world through blockchain alongside Iota (MIOTA) and Ethereum Classic (ETC). As much as the three blockchains use IoT to develop their platforms, VeChain, recently named VeChain THOR, offers a unique and totally inclusive platform including AI, Big Data and Cloud computing. However, the superb development process of VeChain is yet to push the VET coin past its nemeses in price and market capitalization.
VET is however on the rise in the past week beating off the bearish trend seen across the market giving VET investors and holders a hope for the currency to be the top coin in providing IoT blockchain solutions.
VeChain partners with DNV GL Group
Since the start of Q4, a period known for its bullish trend in crypto, VeChain Foundation announced the official ‘DNV GL-VeChain Digital Low Carbon Ecosystem’ agreement that will advance DNV GL’s existing efforts working with the United Nations to advance the UN’s environmentally-focused Sustainable Development Goals. Furthermore, the VeChainTHOR custodian introduced the “VeChain Technical Deep Dive Series” that will allow users, developers and other stakeholders to understand and work with the VeChain Foundation to better the development process of the blockchain.
While both developments are key to VET’s price indications in this quarter and 2019, the former offers a very long term goal that may well save humanity. Here’s how.
Carbon emissions vs Humanity
One of the greatest issues humanity is currently facing is the excessive carbon emissions released to the atmosphere around the globe. Carbon is killing the planet slowly with the tons of carbon released causing global warming.
The United Nations has placed reduction in carbon emissions as one of the major goals to be reached by 2030. This recent partnership between DNV GL, a Norwegian assurance company – together with key partners of the Thirteenth Chinese Five-Year Plan: BYD, PICC, VeChain, Tsinghua University’s Sino US Relations Research Center, and Shanghai Xiandao Food (a subsidiary of Bright Foods) – and VeChain Foundation will be key in achieving this goal.His Majesty, King Harald and Her Majesty, Queen Sonja during the signing
The digital low carbon ecosystem agreement was signed in China in an event that involved premier Chinese personnel and the monarch of Norway, King Harald V and Queen Sonja further showing the importance of the agreement and the project.
VeChainThor offers humanity a lifeline with a $0.1 USD target
The ‘DNV GL-VeChain Digital Low Carbon Ecosystem’ project will leverage the VeChainThor mainnet and IoT devices to companies who need to reduce their carbon emissions. The companies that effectively lower their carbon emissions will receive carbon credits, calculated form the immutable records through smart contract technology.
“The solution distributes carbon credits to enterprises and individuals involved in emission reductions. Carbon credits are transferred through individual users in the ecology of inter-enterprise consumption activities to achieve the ecological diversion between different enterprises. The credits can then promote and enhance the sales of enterprise products or services.” – VeChain Foundation
With China, the largest carbon producer in the world, having signed the agreement, VeChainThor may well see an increase in adoption of its technology across the industries and enterprises leading to increase in demand for VET.