Bitcoin, Crypto currency, Blockchain

Big Deal for VeChain: partnership with Chinese state-owned enterprises

Since 4 days the first ever runs on the VeChainThor Blockchain-oriented ICO has imposed a Hard Cap of $ 30 million. Furthermore, VeChain was able to gain a new Partner on the Blockchain research Lab Establishment of a conference on the future development of the project is crucial.

VeChain recently announced the partnership with the Lingang International Manufacturing Exhibition Trading Center in the Shanghai Lingang Economic Development Group is a member of. Kevin Feng, COO of VeChain, was guest of honour at the Blockcain & Industry Convergence Development Forum on 25. May in Shanghai. In this exact place sealed VeChain the partnership with the Lingang Group.

The Lingang Group, a state-supported enterprises that directly of the state supervision and administration Commission of Shanghai. This facility is responsible for the development of the Lingang area, employs over 400,000 people and generates annually more than $ 1 trillion in sales.

The VeChain Foundation explains that this partnership is tremendously important for the future development and adaptation of the VeChain Thor Blockchain (freely translated):

This partnership allows VeChain, continuously in technology to be trading platform to be represented and to demonstrate the technological innovations that are supported by the Eastern China Tech Transfer Center and the government of Shanghai Lingang.

So VeChain not only benefited from state-directed financial support, but a large Mass of people come with the project itself as well as the block chain technology.

Shanghai Lingang is one of the most flourishing centres of innovation in China, and strives to be a Hub for developments in all sectors of the economy. The government is working on the close integration and development of all those involved in the process through a state-based, stable progress.

VeChainThor Blockchain will help to facilitate the transfer of knowledge within and outside of the state’s industries to inspire new technological innovations.

Through this partnership, VeChainThor Blockchain for use in various industries, government authorities and research institutions is being tested, explored and used.

This cooperation is an important milestone for the VeChain project and promises more innovations for the future.

VeChain is one of those projects that can demonstrate a whole range of different practical application cases. As we reported recently, is VeChain used in the food industry, in order to make the originality of the goods seamlessly and transparent for the consumer, trackable, and thus counterfeiting is effectively prevented.

However, this is only one application of many. VeChain is, among other things, for the areas of Supply Chain Management, Asset Management, and brand protection interesting.

The VeChain rate moves currently, as the entire crypto-market, in the red zone and recorded at the time of writing a price of 2.66 euros and a market capitalisation of 1.4 billion euros. So VeChain currencies space 16 of the greatest Crypto in the world.

Leave a Comment