Eyeing the expansion of its native VET token to a wider class of customers, the popular decentralized supply chain firm, VeChain has locked a strategic deal with crypto payment facilitator, Alchemy Pay. With this highly-anticipated partnership, VET token holders will get a chance to purchase goods in over 2 million stores spread across 70 countries using VeChain’s popular virtual coin. The collaboration will help VeChain in proliferating the global crypto market space and establishing its strong presence amongst investors looking for a reliable, transparent, and user-friendly payment solution for everyday trading.
The team at VeChain made a series of announcements highlighting the firm’s future partnerships and integrations. With these plans, the platform is looking forward to enhancing its usability and supporting the wide scale adoption of its VET token. Apart from the collaboration with Alchemy Pay, VET has earned support on the newly-launched Binance Bridge 2.0. The virtual currency was included in the first group of coins selected to be supported on the Binance Bridge 2.0 channel. The solution offers a revolutionary interface for bridging virtual assets from Ethereum to be used on the BNB Chain. The other tokens included in the list are SAND, JASMY, APE, PEOPLE, MBL, LOOKS, MANA, and ELON.
— VeChain Foundation (@vechainofficial) April 27, 2022
On Thursday, VeChain made it official that they have joined the elite panel of the Blockchain Infrastructure Alliance. The highly-acclaimed organizational group connects industry experts and offers the necessary funding for developing blockchain-empowered research projects. Talking about its collaboration with the BIA, VeChain CEO, Sunny Lu conveyed that they will put in their joint efforts to develop and grow the global blockchain industry.
While cryptocurrency continues to thrive as an important application of blockchain technology, it certainly is not the only one on the long list. Today, we can find blockchain technology in a variety of fields such as education, healthcare, banking, insurance, travel, etc. With VeChain, we came across one of the most potential applications of blockchain technology, i.e., supply chain management.
Launched in 2015, the DLT network allows firms to manage, track, and operate supply chain ecosystems ensuring ultimate security, transparency, and reliability in work operations. The solution strives to make supply chain tracking easy and convenient for firms while reducing their workload on them. VeChain provides tracking solutions for optimized logistics and supply chain management. It uses a Proof-of-Authority consensus algorithm with 101 master nodes participating in the network. The protocol verifies identities and reputations instead of staking or mining.
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