This is why VET will revolutionize the blockchain industry

• VeChain is safe to invest in because it has a great team and will continue to expand.
• VeChain has expanded its network with several partnerships in the blockchain space recently.

Despite the fact that the crypto winter has affected several crypto projects, the blockchain platform focused on the supply chain management process, VeChain, continues to expand. VeChain has expanded its reach in recent months by partnering with different firms across different sectors. It has also upgraded its platform with a recent upgrade to its proof-of-authority (PoA) consensus mechanism.

According to the platform, PoA 2.0 will offer speed and reliability, which are essential for any enterprise app. Although it seems more centralized, given the low number of nodes, VeChain’s PoA 2.0 mechanism consumes less energy and emits low amounts of carbon. VeChain added that the PoA mechanism makes it possible to build and scale green technologies at a level not seen before on any public blockchain.

At the top, the project has entered into strategic partnerships that can play an important role in the adoption.

More VeChain Partnerships

As previously reported here on CNF, VeChain is partnering with the mixed martial arts organization, UFC, to become its official blockchain partner. According to several reports, the deal is worth around $100 million over five years. The partnership will expose VeChain’s products and services to the UFC’s user base through various UFC events.

Vechain is a great project and relativity is safe to invest.
They have a great team and are only expanding.
I would say dig in and learn more about #Vechain.
Any questions feel free to send me a DM. pic.twitter.com/yvyYHtOQYB

— Ⓥ Ve-Chain-Collector Ⓥ (@collectingvet) 16 October 2022

For example, the VeChain token will be publicly displayed in the UFC’s octagon at more than 40 annual events. UFC athletes will also receive payments for featuring in VeChain marketing related content. VeChain also has some of the best commercial examples of public blockchain use cases in the food industry.

For example, VeChain helped Walmart China tackle food safety issues. VeChain registers suppliers’ information on its trustless VeChain Thor. This allows Walmart China to spend much less money and time on inventory. Also, the technology reduces the tracking time for a specific item to 10 seconds. Previously, such track time would have taken 26 hours. It has since expanded its services to Walmart. In a September 27 tweet, the VeChain community hub revealed that VeChain helped Walmart complete 700,000 transactions within 3 hours. The tweet added that it is a significant achievement, given that there were no instances of spam or token shuffling in any of the transactions.

VeChain is also implementing its innovative green technology to help the United Nations achieve its Sustainable Development Goals (SDGs). In August 2022, the VeChain platform partnered with amazon web services to improve the VeCarbon platform. The platform will help businesses access data about their carbon footprint. Then they can manage it properly and meet emission targets.

Last year, the enterprise blockchain solution stated that four of the 17 UN SDGs align with the capabilities of the technologies. The VeChain Foundation continues to work on several carbon-related projects across China and the EU, empowering businesses with sustainable blockchain solutions. VeChain Thor is arguably the most environmentally friendly public blockchain and aims to help businesses and governments around the world achieve their SDGs efficiently and at a low cost.