VeChain is now among the top ten firms with the highest number of blockchain patents on a global scale. This is because VeChain is among the top projects that are fueling innovation. It has more than a proof-of-concept with several use cases within and outside the supply chain management sector. It solves real-world economic problems. So far, VeChain has 38 blockchain patents and more will be available soon.
Out of these patents, one is meant for a tracing and sharing system for IoT vehicle information. This product uses the VeChain nodes to gather details about the vehicles life cycle. Another patent is for anti-counterfeiting system implementation and design. This system uses VeChain nodes to prevent counterfeiting across various industries. There are other VeChain patents that aim to transform the world.
VeChain News Today – VeChain Partnerships
Another reason why VeChain is primed for more popularity and gains is that the VeChain Foundation has entered into many strategic VeChain partnerships with some leading companies across the globe.
In September, VeChain has entered into a partnership with an insurance giant in China, People’s Insurance Company of China (PICC). The goal of this partnership is to use VeChain blockchain to improve trust in the insurance sector. Another one of VeChain partnerships with three Norwegian firms involves using the VeChain blockchain to ensure the safety and traceability of fresh foods that are sent to China.
Let’s not forget that during the VeChain summit, a VeChain ToolChain was introduced to help encourage building on the VeChain blockchain. Professional services firm, Deloitte also migrated from Ethereum to VeChain. Many other partnerships have been made and there are more in the pipeline.
VeChain Thor Price Prediction
VeChain is the leading blockchain in Singapore and will soon become one of the top 10 in the world. The distributed ledger technology was created to provide a secure and robust channel for the supply chain sector. According to our previous VeChain news, the VeChain nodes are the first to ever be created specifically to improve trust in the $50 trillion supply chain management sector. As this sector begins to explore blockchain technology, the first choice of most companies will be VeChain. This is one of the reasons why VeChain is going to reach massive adoption soon.
VeChain (VET) Price Today – VET / USD
VeChain is going to take a massive bull run for the price of VeChain to hit the predicted $0.25 level. The cryptocurrency space in unpredictable. The latest VeChain Thor price prediction on CryptoNewz places the price of VeChain at $0.25 by the end of the year.
If we look at today’s price and record the movement of price since the market opened until now, then the coin is registering a regression. The same pattern could be noted in the last seven days price movement of VET coins.
However, the coin has shown a support resistance in the last one month. Hence, the expectation of recovery in Vechain coins is high.
At the beginning of the year, VET coins opened at 0.003980 USD, and now the current price is recorded as 0.007456 USD, which means the coin has shown 2x growths till now.
The steady upward movements of VeChain coins can make them touch $0.25 by the end of 2019. Vechain investors must be experiencing some hiccups. But once the coin stabilizes in the market, we are sure that the VET will prove to be a good long term outlay.
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