VeChain partnerships are key to mass adoption of the blockchain. This is because they create more awareness for the blockchain propelling other companies to use it to host products and services. About a month ago, Deloitte and IIB migrated from the Ethereum blockchain to the VeChain blockchain. Keep in mind that one of the big four professional services firms was already using the VeChain blockchain.
Now that Deloitte has joined, VeChain has half of the big four. The move to VeChain from Ethereum is a big deal because Ethereum is currently the largest and most popular decentralized computer for hosting smart contracts and dApps. By moving to VeChain, Deloitte showed the world that the VeChain blockchain is better than Ethereum.
VeChain News Today – VeChain Partnerships with Amazon Web Services, BMW and Haier.
VeChain also has partnerships with Amazon Web Services, BMW and Haier. One partnership that is going to allow VeChain to enter into the insurance market is its partnership with People’s Insurance Company of China (PICC). This move alone has the potential to revolutionize the insurance market in China. Last year VeChain and DNV GL came together to build a platform for data management. Many companies are now using this solution with more to join soon. There have been many VeChain partnerships over the years but the VeChain partnership with Deloitte, PwC, PICC and BMW alone have the potential to change the game for the VeChain Thor blockchain and boost the VET price.
VeChain Thor Price Prediction
VeChain (VET) Price Today – VET / USD
In our last VeChain Thor price prediction and VeChain news, we talked about how the price of VeChain wasn’t increasing at the same pace as the VeChain partnerships. Typically, when announcements of partnerships are made, the price of token surges. The main reason why the VET price has not yet responded to the VeChain partnerships is that most of these partnerships aren’t going to cause a significant increase in the use of the token. This doesn’t mean they will not influence the VET price.
These partnerships will lead to an increase in use cases of the VeChain blockchain, increase in adoption and eventually a significant increase in price. This is why Invest blockchain refers to VeChain as a sleeping giant. When the VeChain partnerships finally start reflecting on the price of VET, we should expect the VET price to hit $1.
VeChain News Today – VeChain Blockchain to Chery Jaguar Land Rover
VeChain has been on fire since after the VeChain token swap. This isn’t a surprise as the blockchain has incredible potential and is going to take the lead for blockchains in the next industrial revolution. Apart from the exceptional features of the VeChain blockchain, the VeChain partnerships have contributed significantly to the adoption of the blockchain and the token ever since the VeChain mainnet launch and VeChain token swap. While the price of VeChain has reached the moon yet and people are asking questions like what happened to VeChain, why is VeChain not rising, and will VeChain recover, there is still hope for the VET price.
In 2018, Tesla of China, BYD, collaborated with VeChain to use the VeChainThor carbon credit application to store data.
Through the partnership, VeChain’s low carbon digital ecosystem got integrated into BYD vehicles to allow users of the vehicles to get rewards for utilizing the environmentally-friendly functions made available on BYD’s hybrid and electric vehicles.
According to thle latest news on todaysgazette.; Chery Jaguar Land Rover, an automotive manufacturing company headquartered in Changshu, China were able to get comprehensive knowledge about the benefits of blockchain technology, especially in the automobile industry. Tian Xinli, during his presentation at the event, elaborated on the use of VeChain’s digital solutions in the automobile industry with more focus on Digital Low Carbon Ecosystem.
Digital Low Carbon Ecosystem is a VeChain – DNV GL co-developed blockchain and IoT solution powered by a carbon reduction platform to encourage all to partake in the reduction of carbon emissions in the society.
Digital Carbon Ecosystem allows consumers to earn credit for reducing carbon emission in the society.
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