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VeChain has obtained a significant transaction in recent weeks, reaching its all-time high of $ 0.1975 on April 17, as it seeks to make the giant leap to cross $ 1. The reason for this price increase is intimately linked to the level functionalities VeChain offers its clientele and the strong community that surrounds the project. Large corporations such as BMW and Walmart (NYSE 🙂 China have seen the value that VeChain brings and are investing in the project as a result of the immense value it brings to the supply chain This has been largely responsible for the longevity enjoyed by the project And, in the future, we could see these large companies create their protocols, creating new consequences for VeChain VeChain is currently at the zenith of its powers, as it has attracted significant attention from the major players in the industry. This attention is reflected in its price as it hit a new all-time high of 0.200 and is currently trading at $ 0.1975 at the moment. The functionalities included in the protocol and the customer base of large corporations paint a very positive picture for VeChain, indicating a giant jump in prices of up to $ 1. VeChain rubs shoulders with the best Founded in 2015, VeChain is a platform that is designed to provide value throughout the supply chain process. The White Paper notes that the platform can provide users with all relevant information about a product, such as storage, transport and supply. It’s also packed with a ton of enterprise-grade functionality that allows it to be used to verify process quality from start to shelf. To accomplish this feat, VeChain implements sensor-loaded smart chips that are used to transmit the necessary information to the blockchain that can be viewed in real time. Enterprise-level partnerships This year, VeChain has enjoyed a number of enterprise-level partnerships and adoptions across a wide range of use cases. The blockchain-powered supply chain platform that seeks to apply distributed governance and Internet of Things (IoT) technology to optimize supply chain management systems has enjoyed a number of partnerships. In a previous partnership with DNV, VeChain’s technology has also been used in several DNV managed projects; an organization driven by promoting the safety and sustainability of its business. VeChain’s blockchain solution is being exploited by DNV to manage project data with Danish company ReSea and Norwegian industrial company Hydro. In early April, the VeChain team announced a collaboration with software company Salesforce (NYSE :). The announcement stated that Daniel Nortje, Director of Strategy and Architecture at Salesforce, had successfully tested enterprise adoption ideas on the VechainThor network. Highlighting the reason why VeChain was chosen as the blockchain of choice, Daniel Nortje noted that: The key benefit of working with VeChain was the simplicity of integration. VeChain provides a Blockchain-as-a-Service platform, which meant that I didn’t have to provide any intermediate architecture myself. From what I’ve seen, this is unique to the VeChainThor public blockchain and I thought it was a very good idea, especially for organizations that don’t necessarily want to invest in more systems to maintain. As a direct result of the features, VeChain has a high level of customers and partnerships including, but not limited to, Renault (PA :), BMW, PricewaterhouseCoopers (PwC), Bayer (OTC 🙂 China, Shanghai Gas, ASI Group, among others. others. . These partnerships have proven to be beneficial to both parties as VeChain received the world’s first 5-star rated Blockchain Service Certificate and clients have reaped the rewards of the partnership. Another example is the VeChain – Renault partnership that allows the automaker to create a blockchain-based digital car maintenance book, allowing car owners and future car owners to access repair history or mileage. vehicle. In early March, VeChain collaborated with the NFT-related VIMworld platform. At the height of the NFT craze, the partnership also helped draw additional attention to VET and VTHO and was followed by a steady increase in price. The positive benefits of these partnerships were reflected in the price of the VeChain (VET) token. From January to date, FP has risen almost 1,000%, starting the year at $ 0.01878 and currently trading at $ 0.1985. VET is currently ranked as the fourth largest crypto, with a market capitalization of $ 12.7 billion. Can a centralized VeChain compete with decentralized projects? A good percentage of the population was loved by cryptocurrencies or strongly supported the asset class due to its decentralized nature. Truly decentralized cryptocurrencies are resistant to censorship and immune to meddling by project leaders. The transfer of power from a central source to the people has been one of the strengths of cryptocurrencies. GameStop (NYSE 🙂 vs Wall Street Saga was a strong reminder that the world is beginning to prefer a decentralized approach to management. While most cryptocurrencies boast of being decentralized, the same cannot be said for VeChain. While VeChain is often said to go for a semi-centralized framework, the network is more centralized than many know; maybe up to 90%. VeChain runs on a decentralized governance structure. However, everything in the ecosystem goes through centralized channels, thus eliminating the inefficiencies of the decentralized system and embracing the advantages of a centralized one. While this blockchain project has spent more time on business adoption. The issue of being centralized or decentralized has been a controversial issue. Knowing that the future is decentralized, what will be the fate of VeChain? On the Flipside VeChain has announced a $ 1 million grant for the eNFT ecosystem Titled the VeChain Grant Program, this Fund will be used to support industry innovations in NFT and eNFT. Up to $ 30,000 has been earmarked for each app and can be transparently tracked on Github. What does the future hold for VeChain? Nothing lasts in perpetuity and every race must come to an end one day. While VeChain is reaping the rewards of its innovation and strategic partnerships, there is always the possibility that at some point in the future, these corporations decide to create their internal systems to handle the functionalities to ensure the smooth running of the supply chain. We have seen this scenario occur too many times with a true example of Apple (NASDAQ 🙂 breaking ties with Samsung (KS 🙂 who provided the processors for their mobile devices. Slowly and steadily, Apple learned the ropes, and in due course it was time to say goodbye to Samsung for chip production. We could see this scenario unfold in the future between VeChain and its customer base and a real reason for the schism may be because VeChain is 90% centralized. Until then, investors can continue VeChain’s bullish wave currently trading at $ 0.1975 until a report suggesting otherwise hits the media. EMAIL NEWSLETTER Join for the flip side of cryptocurrencies Refresh your inbox and receive DailyCoin editors’ picks once a week directly to your inbox.
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