VeChain News Today – Headlines for July 12

  • Hotel giant InterContinental adopts VeChain based MyCare solution
  • The MyCare tool will be used to make health certificates for guests and employees
  • US has added VET staking and rewards will be shared monthly

VeChain News Today – the InterContinental Hotel Group will use the MyCare tool developed with DNV GL and VeChain to create health certificates. These health certificates will be issued to employees and guests. The international conglomerate Group will use MyCare to cut down the risk of infection from the ongoing coronavirus pandemic.

InterContinental Hotel is a giant in the hotel industry, having created approximately 842,700 rooms in more than 5,656 hotels in 100 countries across the world. IHG owns many brands, including Regent Hotels, InterContinental, Six Senses Hotels, Crowne Plaza, Holiday Inn Express, and Holiday Inn. IHG has reported revenues of $4 billion per annum for the 2019 fiscal year.

MyCare Will be Used to Record Risk of Coronavirus

MyCare will be used to record the risk of Coronavirus infection. It will also help to manage and securely store the information. The tool uses VeChain’s ToolChain Baas platform. The report, certificates that are issued with MyCare solution will ensure that IHG continues to function under strict compliance regulations that have been established in the pandemic. Additionally, it was also reported that the MyCare’s launch was announced in WAIC (the World AI Conference).

The introduction of the MyCare tool is a response to an initiative brought up by the Shanghai provincial government. The initiative is designed to promote a more environmentally friendly and responsible community. This is why the Shanghai government has started to introduce Blockchain technology into different areas of local life. The bulk of these apps are designed to improve people’s lives and health.

Binance.US Adds VET Staking

Binance.US has added support for VET staking. The platform has announced that rewards will be distributed every month. Yesterday, Binance.US announced through its Twitter page that it will begin to support staking of VeChain’s VET coin. Per the official announcement, VET staking has been requested by a high number of VeChain community members. Binance.US has now listened to the VET community. Here is the post:

“Binance.US will now support VTHO distribution to TET holders. VTHO will be shared monthly, but will be summed up according to daily snapshots of each user’s balance.”

Binance.US announced that to be eligible for VET staking on its platform, users must have a wallet balance higher than 1 VET. If they fail in this regard, they will be removed from the daily reward calculations. Additionally, the world’s biggest exchange clarified that even though VTHO generation will be summed up daily, the distribution of rewards will be carried out once a month before the 15th day. The exchange began VET staking on July 11.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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