VeChain leads the blockchain industry in sustainability, carbon management and NFTs

• VeChain is highlighted in a new article as one of the most suitable blockchains on which to deploy healthcare data management solutions.
• It has also just launched a proprietary chipset that will help reduce fraud in the used market by using NFC and NFT technology.

VeChain consolidates its position as a leader in providing blockchain-based solutions for sustainable supply chain and carbon management. The enterprise-grade lightweight L1 smart contract blockchain is also leading the non-fungible token (NFT) revolution.

A recent journal article highlights VeChain as one of the most suitable blockchain platforms to use to alleviate healthcare data management challenges. The article is titled ‘Choosing the Most Appropriate Blockchain Platform: A Case Study on the Healthcare Sector Using a New Coarse MCDM Framework.’ And was published in the journal Technological Forecasting and Social Change.

In the academic work, the authors note that the healthcare system’s data management challenges arise from the fact that the sector has several key players. These often include medical and pharmaceutical suppliers, insurance companies, third-party logistics providers (3PL) and regulators.

Non-synchronization of these players results in the system generating data that is “generally difficult to understand, use and share.” This in turn makes the healthcare system very inefficient. The challenge can be solved using a sustainable blockchain network like VeChain, the piece suggests.

VeChain is not new when it comes to developing solutions with healthcare use cases. VeChain has engaged several key players for its Drug and Vaccine Traceability Solution. These include Bayer China, the Chinese arm of multinational pharmaceuticals, and biotech giant Bayer.

VeChain is also the sole public blockchain technology provider to the China Animal Health and Food Safety Alliance (CAFA). This partnership was also highlighted as an example of how blockchain technology can revolutionize the sustainability of the food industry.

VeChain is being adopted in several other industries.

Meanwhile, VeChain’s recognition has not been limited to the healthcare sector. VeChain’s partnership with ReSea was highlighted in a recent ESG Intelligence newsletter. The two firms are collaborating on an initiative to use blockchain technology to transparently finance ocean plastic removal in Indonesia.

Likewise, VeChain intends to deepen its partnership with Chinese electric car manufacturer BYD in 2023. VeChain revealed that one of the goals of the partnership in 2023 is to help solve the massive decarbonization challenge facing the global automotive industry.

In another release, the VeChain Foundation notes that it will also pursue this goal more broadly outside of its partnership with BYD. The network looks at the EU Parliament’s recent publication which proposes to introduce “digital passports” to track the sustainability of all types of batteries.

The EU Parliament noted that it has entered into a new agreement to revise the rules on batteries and take into account “technological developments and future challenges”. These include introducing “stricter targets for waste collection, recycling efficiency and material recovery.” These new goals are achievable with blockchain technology, VeChain claims.

Notably, VeChain has also introduced a proprietary chipset for authenticating real-world products. The chips combine NFC with NFT and blockchain to reduce fraud in the used market, according to an announcement.

Inoperable token (#NFT) technology allows $KNOW to add digital identities to physical things.

We combine NFC chips with #NFT+#blockchain to guarantee authenticity, transparency and #sustainability.#VeChain reduces fraud on the used market, protects people and businesses. #Crypto pic.twitter.com/n1uwCtJ196

— VeChain Foundation (@vechainofficial) 4 January 2023