VeChain to revolutionize carbon footprint in $200B market

• A speech at the summit highlighted VeChain’s SaaS solutions to enable businesses to change their carbon footprint management practices.
• This year’s Wanxiang Blockchain Summit focused on digital transformation, Web3 and carbon neutrality.

Shanghai International Blockchain Week 2022 was held between September 16 and 28 in the Hongkou District of Shanghai. The first three days were for the 2022 Wanxiang Blockchain Hackathon. During the event, 8 cases analyzed the global carbon market and how VeChain’s technology can help improve carbon management practices.

In a speech on the 8th Wanxiang #Blockchain Global Summit, VeChain was highlighted for its #SaaS solutions that will enable companies of all sizes to redesign their #carbon handling practices for footprint data.” 🌱

Full article 👇https://t.co/WtltpJ4M9t#Sustainability #Tech pic.twitter.com/ZfsSkwOIib

— eisenreich (@eisenreich) 11 October 2022

A professor at Singapore’s Sin Yue University of Social Sciences, Li Guoquan, gave a detailed analysis of the functions of new information technology, especially blockchain and artificial intelligence. He also explained how technological development in Singapore and around the world can contribute to excellent and sustainable global development through practical use cases. Singapore is already implementing these use cases under its “double carbon” target.

VeChain’s platform for carbon management

The fourth case highlighted the importance of VeChain’s SaaS platform for carbon data verification. Professor Guoquan explained that VeChain’s digital carbon footprint SaaS platform can help businesses improve carbon footprint data management practices regardless of size. VeChain has been in the news since last week for various positive reasons.

Two days ago, it announced its expansion into Europe by establishing two new plants in this region. Blockchain also announced that it would be recruiting at least 100 new developers for its new European office. The good news surrounding the VeChain network is likely responsible for the increase in the price of the network’s native token (VET). Current data shows that VET is up 7.80 percent in the last 24 hours and is trading at $0.0233.

In addition, the highly respected academic also referred to another platform in his fifth case (Wancarbon’s Rubik Cube blockchain platform). The platform is a combination of different technologies as one tool. Such technologies include IoT, Security Cloud, blockchain and knowledge maps.

Wancarbon Rubik’s Cube blockchain tool helps companies monitor their product’s lifecycle carbon footprint. The tool also allows buildings and parts to track their carbon emissions and analyze and monitor their carbon assets.

The 8th Global Blockchain Summit

Apart from the grand opening, the summit had a series of thematic forums, with each session lasting up to 3 hours. All the speakers talked about the trending issues in the blockchain and crypto space. They covered topics related to Layer2, DAO, Web3, privacy, carbon neutrality, IoT, metaverse and data security.

More than 70 industry players, including academics, thought leaders and experts were on hand to discuss the hottest issues that are revolutionizing the way we work and live, especially in the long term. They also recommend solutions to some of these burning issues.

Wanxiang Blockchain Labs has hosted the Global Blockchain Summit every fall for the past seven years. The event has become one of Asia’s most popular events. Blockchain experts and enthusiasts meet at this event annually to discuss current trends, burning issues and available opportunities in the blockchain space.