UFC hails VeChain as the leader in real blockchain applications
Shortly after concluding a historic agreement, The UFC, the professional mixed martial arts organization, recognizes VeChain as the leader in enabling the real-world application of blockchain technology.
The Ultimate Fighting Championship (UFC) brand notes that the blockchain company aims to change the world through the many and unique solutions it builds in different fields.
VeChain is leading the Blockchain industry movement
VeChain, the official blockchain partner of the UFC hwhich proved to be a unique blockchain project, with zero percent downtime in four years. For this reason and more, the UFC claims that the Layer 1 smart contract platform will have a major impact on the world and that its solutions will promote blockchain mass adoption.
Reports show that VeChain is building solutions in a wide range of fields, including sustainability initiatives, decentralized finance (DeFi), carbon management, medicine, automotive, warehouse managementenergy, food safety and traceability.
Following the introduction of the VeChainThor public blockchain in June 2018, along with its original token VET, VeChainThor has seen increasing usage.
In addition, the capacity has been expanded to support solutions in the aforementioned fields in particular. Further development is underway to improve the block finality property of the blockchain network.
According to VeChain co-founder Sunny Lu, VeChain is a smart contract platform that is powerful and versatile with unique features.
VeChainThor is also designed to tackle the challenges facing the real world adoption of blockchain technology. “VeChain is used by real clients in a commercial environment at scale, not smoke and mirrors as per most crypto projects,” he added.
As revealed in a reportVeChain has also obtained commercial contracts with large enterprises and governments such as Walmart and China.
Read more: China adopts VeChain Toolchain for food safety and traceability
Furthermore, Sunny Lu noted that “VeChain has close collaborations with major consulting firms such as DNV and PWC, which have been instrumental in helping land contracts with Fortune 500 companies and governments around the world.”
Companies like Frank And Oak (F&A) use VeChainThor to provide complete transparency and accountability to consumers. By leveraging VeChainThor, F&A meets high standards of ‘verified ethical and environmental action.’
As previously reported by TimesTabloid, VeChain has on board a much-needed solution for the luxury goods industry. This solution tackles the problems of theft and counterfeiting in the luxury goods sector.
Interestingly enough user VeChain’s near field communication technology, SBTG, a footwear brand ensures the authenticity of the products while sharing additional information with customers.
Although the impact of VeChain is already visible, the world’s leading enterprise-class Layer 1 smart contract platform is striving to have a more significant impact worldwide. This led to the collaboration with the martial arts company UFC.
Related: Sunny Lu’s reaction to mega deal with UFC: It’s A Historic Moment for VeChain
VeChain’s partnership with UFC
In early June, the historic global marketing partnership between the UFC, the world’s premier mixed martial arts organization, and the leading global sustainability-focused blockchain foundation was sealed. VeChain co-founder Sunny Lu noted that the partnership was historic with several mutual benefits attached.
The partnership allows VeChain to tap into the UFC’s massive audience and thus give the blockchain project greater exposure to a global audience filled with young entrepreneurs and business owners. VeChain will also receive massive integration into UFC assets.
To increase its blockchain capacity to pilot more real-world applications of blockchain technology, VeChain’s team is on the way to improve its unique and existing Proof-of-Authority (PoA) consensus algorithm. This upcoming upgrade dubbed ‘Finality With One Bit (FOB) is a Block Finality Solution.
