VeChain has been making headlines since the VeChain token swap and VeChain manniet launch. This project may not be as popular as Ethereum, Tron and, EOS yet, but it has sealed strategic VeChain partnerships that would eventually contribute to the long-term adoption of blockchain technology. Since last year, the VeChain news has been about one VeChain partnership after the other. These VeChain partnerships may not all require the use of the VET token but they have supported the VET price and increased awareness for the VeChain blockchain. How will VeChain contribute to the large scale adoption of blockchain technology and how is this going to affect the VeChain Thor price prediction? These questions would be answered in our VeChain news today.
VeChain News Today – VeChain Thor Price Prediction – VeChain Partnerships Set The Stage For Blockchain Adoption
Blockchain technology came into existence with the creation of Bitcoin. The first cryptocurrency in the world was built on a blockchain. This is why when people hear the word blockchain, the first thing that comes to mind is cryptocurrency. After a while, blockchain developers discovered that there are many other applications of this technology that go beyond the financial application. One of the key applications of blockchain technology is in the supply chain management across industries. While many blockchains can be used in the supply chain management sector, VeChain is the first blockchain that has been developed specifically for supply chain management.
The global supply chain industry is currently worth over $50 trillion. With the additional exposure the VeChain mainnet is getting from these VeChain partnerships, it’s only a matter of time until every major business in the space decides to implement blockchain technology and VeChain would be the first option due to its unique nature. With the VeChain blockchain, supply chain management would be more transparent, secure and affordable. Using the VeChain mainnet cuts out the cost for intermediaries saving companies millions of dollars yearly allowing them to offer cheaper services to their clients.
VeChain News Today – VeChain Thor Price Prediction – VeChain Latest Update – VET Coin – VeChain Isn’t Just Attracting The Supply Chain Industry
Even if the VeChain blockchain has a unique application in the supply chain industry, it is still applicable in other industries. Not every VeChain partnership has been related to the supply chain management sector. A while ago, PricewaterhouseCoopers (PwC), a global auditing firm, announced a mutually beneficial partnership with VeChain. It also partnered with major auto producer, BMW. During the VeChain summit, professional services firm Deloitte announced that it would be using the VeChain blockchain to host its products.
China’s Financial Insurance Giant, People’s Insurance Company of China (PICC) has also brought VeChain into the insurance sector. Other VeChain partnerships were with Haier, Amazon Web Services, etc. Many more VeChain partnerships are in the horizon and it’s only a matter of time until all these partnerships reflect on the VeChain Thor price prediction. An increase in the adoption of the VeChain blockchain will also lead to an increase in the adoption of blockchain technology as a whole.
What do you think about the VeChain partnerships as they apply to the VeChain Thor price prediction and the global adoption of blockchain technology? Share your thoughts in the comment section below.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.
