VeChain is partnering with Boston Consulting Group to bring blockchain to mass adoption for billions of people and companies

• VeChain partners with the Boston Consulting Group to launch a sustainability initiative whitepaper.
• The Blockchain Biosphere initiative is said to be a further development of the Carbon Credit DApp.

In collaboration with the Boston Consulting Group, VeChain has unveiled the new sustainability-focused whitepaper ‘Web3 For Better’ as part of efforts to bring blockchain adoption to billions of people and companies. Over the years, the company has worked towards plans to achieve environmental sustainability in the blockchain space, and a comprehensive vision to realize this has been outlined in the whitepaper.

VeChain is building a Blockchain Biosphere, “a modular series of ‘ecosystems’ made up of stakeholders, from individuals to businesses, tackling specific sustainability challenges using ‘nudge economics’ to achieve desired outcomes.”

BCG has an incredible reputation in the ESG/sustainability field, and in this partnership, VeChain will leverage its vast client network to create a green revolution in blockchain. It can be recalled that VeChain introduced a development called Carbon Credit DApp. With this, drivers had the option to upload their travel data while smart contracts calculate the carbon offset.

An updated version was launched in San Marino after the government invited the team to help them become the world’s first carbon neutral country. This initiative has later evolved into the Blockchain Biosphere.

By leveraging blockchain’s transparency and provenance, Vechain’s blockchain biospheres tap into the “positive externalities” of consumer decisions, such as the ethics or sustainability of a good or service. In doing so, Vechain is redefining value by incorporating the idiosyncrasies of individuals often excluded from legacy valuation models.

VeChain to enable sustainability with powerful tools

With the Blockchain biosphere, consumers gain confidence in products while businesses develop better brand stickers to create an engaging atmosphere. According to reports, their sustainability ecosystem of VeChain will be enabled with powerful tools, including the Web3-as-a-service platform, VORJ. As explained by the platform, VORJ was intentionally introduced to help Web2 enterprises while easily deploying Web3 services. Using “UI, create fungible/non-fungible tokens, mint OpenZeppelin-compatible smart contracts or other products” without requiring any advanced technical knowledge, VORJ allows users to easily click, compile and deploy solutions.

Vechain’s powerful new web wallet, VeWorld, is also playing a key role in Web3 adoption by offering game-changing features, including URL-based fee delegation. With this, individuals can use the VeChain blockchain without paying transaction fees. This is intended to eliminate any roadblocks to adoption.

One of our most powerful features is “fee delegation” – a protocol that removes the need for businesses to manage transaction fees and a key step towards mass adoption of blockchain technology.

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We have just implemented fee delegation in our web wallet – -… pic.twitter.com/z8Kf1DAea2

— vechain (@vechainofficial) April 4, 2023

In addition to these, carbon footprint explorer has been deployed. Also, other critical technical upgrades, including “an official sustainability-focused NFT marketplace, data oracles, a DAO development framework and distribution of popular Ethereum tools, etc” have been introduced.

VeChain is also working with system integrators to increase Web3 adoption. To integrate VeChain’s web3-as-a-service products and promote adoption on a global scale, a team is working with the ERPs.

By leveraging the possibilities of “trustless” data (information without intermediaries), smart contracts and IoT technologies, VechainThor has enabled solutions across a wide range of fields. Vechain is now turning its attention to the biggest challenge of all – building digital ecosystems to drive sustainability and digital transformation on a global scale.

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