VeChain, VET

The blockchain enterprise VeChain (VET) has done a lot of progress in improving its adoption and has attracted different firms to collaborate with it. VeChain has a number of collaborations in the Asian market and specifically, its partnership with DNG VL has really boosted its stature. 

At the recent event of Global Release of the ‘Achievements of COSMOPlat Industrial Internet Eco Brand Platform’, Haier announced that they have collaborated with the crypto network VeChain 

This potential collaboration of VeChain with Haier will target the following aspects of the market, which include the supply chains, Internet of Things (IoT), blockchain IDs, automobiles, logistics. 

The COSMOPlat is well known for the Internet of Clothing (IoC) and this platform will be using the blockchain technology of VET for building blockchain based clothing life cycle management network.  

As per the officials from Haier, the strategic cooperation between both the firms is set to emancipate the clothing lifecycle management system via the public blockchain technology. This will improve the consumers’ trust, which is very crucial for a successful business.  

The best way to reach the top-level is to keep things simple and transparent. This leads to innovative solutions and helps different technologies to emerge into space. So, VeChain (VET) and Haier are both looking forward to expanding the distributed ledger technology (DLT) adoption to various industries including printing, laundry, household textile, and many others. 

Both the networks have created a new platform known as MyStorey. This platform allows the users to identify the information of the products via QR code scanning. This will help the customers to have the entire history of that specific product, which is a prominent step towards transparency between the users and the company. 

VeChain (VET) has made a major impact with its strategic partnerships and recently, its core partner DNV GL with VET have started to assist Norwegian products which include water, seafood, supplements, home furnishings to enter them into the Chinese market. For this VeChain along with DNV GL and Norway is working together to let the Chinese customers enjoy the Norwegian products. The first product will be seafood that will be able to buy and with time rest of the products will be available on the platform. 

These collaborations will play a massive role in VeChain’s success in the long run. At the time of press, VeChain (VET) had surged up to 6.50% and was trading at a price of $0.00699 USD with a market cap of $387 million and a trading volume of $12 million. So, for the investors, VET is a good option to go at and its future plans look satisfying and we can see it emerge as a top 15 coins in the coming few years. 


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