VeChain News Today – Vechain Blockchain to Curb The Spread of Fake Face Masks Amid COVID-19 Crisis – April 16, 2020

  • VeChain Partners With Chinese Company to Verify the Authenticity of Face Masks During Crisis
  • VeChain Takes the Energy Sector by Storm 

VeChain News Today – Since the beginning of the year, the entire world has been battling against COVID-19. Emerging technologies like artificial intelligence and blockchain technology are being explored and applied in this global battle against a common enemy. Despite the fact that the world is fighting COVID-19, people are still taking advantage of the situation by manufacturing and selling fake protective products like face masks, gloves and sanitizers. Thanks to a partnership with Chinese and Seattle companies, the VeChain blockchain will be used to verify the authenticity of KN95 face masks.

VeChain News Today – Identifying Fake Face Masks With VeChain Technology

According to the founder of VeChain, Sunny Lu, the VeChain blockchain has been getting a lot of positive feedback since they found a way to track and verify the authenticity of face masks that are being shipped from China. VeChain has already started working directly with manufacturers in China and Seattle. Each box of Face mask being shipped from China is tagged with a QR code that is integrated on the VeChain blockchain. To find out if the mask is legit, the retailer can scan the QR code and get the information they need on their smartphone.

VeChain (VET) Price Today – VET / USD

NamePrice
bitcoin
Bitcoin
$57,713.00
vechain
VeChain
$0.212

The technology, which is called Real Items Shopify (SHOP), generates a non-fungible record for every product. Its use isn’t limited to face mask verification alone, it can be used for verifying other items including things purchased online. Apart from product verification, the Real platform can also be used to send digital assets to their wallets.

VeChain News Today – VeChain Takes the Energy Sector by Storm

The news about the face mask verification technology comes a few weeks after VeChain partnered with Shanghai Gas. The partnership is expected to build an ecosystem for the trustworthy use of energy-as-a-service. VeChain will allow Shanghai Gas to create a secure and transparent platform for trading energy.

It’s not a surprise that VeChain is making these moves because the company has always been at the forefront of promoting business applications of public blockchains. They have been working hard on solving blockchain scalability issues. To this end, the VeChain blockchain has two tokens. The VET token, which is the store of value and the VeThor token which covers the underlying cost of using the VeChain’s blockchain. It has been nicknamed the Ethereum for business because it has a similar infrastructure to Ethereum but is created specifically to meet the needs of enterprises.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.