VeChain News Today – Headlines for October 12

  • VeChain has confirmed that it has engaged in the fight against the coronavirus
  • VeChain has collaborated with Sam’s Club in China
  • The goal of the partnership is to launch DLT traceability solutions

VeChain News Today – VeChain, has recently published its Financial Executive Report. The network remarked that it regularly launches its financial report to promote bigger transparency, openness, and fairness. The team behind VeChain also noted that the report covers May 2020 to July 2020.

Additionally, during this period mentioned in the report, the VeChain Foundation said that it has distributed 225 million VET. This was the figure as of when the 12th quarterly rewards were issued to the team. It also contains the paused proportion in the previous quarter. The report also confirmed that the executive team behind the VeChain Foundation has locked up 100% of their rewards. Some team members decided to lock up the tokens they were allocated as a show of commitment.

3 Billion VET Have Been Locked by the Team

According to the report, in July 31 this year, over 3 billion VET tokens ($34.4 million) have been locked up by the development team. The team further added that from May to July 2020, there have been a few major developments that have helped to improve the platform. According to the report, some of these main developments in VeChain include:

  • VeChainThor mainnet code went through several updates to improve its performance after Entropy (v1.3.0)
  • VeChai’s core developer team has updated several of its developer toolkits put down in the Python programming language.
  • The upgrades are designed to facilitate smooth development on the VeChainThor Blockchain
  • The VeChain developers have released VeChain Thor’s Devkit in.NetCore

The New Update Aims to Promote Development on VeChainThor

VeChain ToolChain has given new industrial built-in templates to enterprise users. The ToolChain will give developers a chance to deploy traceability processes easily into their business. According to the report:

Along with I-Dante, VeChain has been deeply engaged in the fight against COVID-19. It has developed a medical data management platform that’s Blockchain-enabled named The E-NewHealthLife. It is a Blockchain-based archival solution for COVID-19 RT-PCR and tests records called C-HCert.”

The report further adds that:

VeChain is the sole public Blockchain project in the APAC Provenance Council. It collaborated with PwC and Sam’s Club to launch the Sam’s Club Blockchain Traceability Platform.”

According to VeChain, it has been working with many service providers specializing in cybersecurity and legal problems. The goal is to make sure the products they sell are secure and remain compliant with regulations. This is what they believe is required for the mainstream adoption of DLT (distributed ledger technology) based services by big enterprises.

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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