The Singapore-based VeChain Thor is a Blockchain platform designed for business applications dedicated to revolutionizing how products travel through the supply chain. One of VeChain’s core technologies is PoA (Proof of Authority), which successfully combines some of the benefits of centralization with technological advances. This platform eliminates some issues related to government regulation because it is based on the identity of the validator and not on a consensus. These are the authorized nodes responsible for validating transactions.
Vechain Latest Partnership
In a recent event organized by the world’s largest consumer electronics company, Haier announced a new strategic partnership with Vechain and DNV GL.
According to Mr. Zhang Weijie, executive director of the Haier Institute for Industrial Intelligence, the cooperation will improve the life cycle of clothing.
This strategic cooperation empowers the clothing lifecycle management system through public blockchain technology, enhancing consumers’ trust which is becoming essential for a business to succeed. an ecosystem approach is the best way to increase levels of transparency and trust, with innovative solutions that bring together various technology elements combined with verification activities.
COSMOPlat is a platform called the Internet of Clothing (IoC). This platform is expected to use VeChain’s technology and blockchain to create a blockchain-based clothing lifecycle management platform.
The new platform built together is called MyStorey and will allow customers to identify product information simply by scanning a simple QR code. In this way, users will know which items were used during the manufacturing process. This would give transparency to businesses and users.
Vechain Price Prediction
An analyst on trading view expect the price of Vechain to surge amid the potential double bottom momentum, He wrote $VET Gaining some momentum as a potential double bottom shows up…, he further concluded the double bottom test price reaching the 110 sats support level. The price could breakout above 120satoshi. The volume of Vechain VET starting to grow again. The RSI and MACD charts are rising, the UCTS Showing a buy signal on the 6H & 12H chart. Given the current price, it would be a good RIO for traders. Many cryptocurrency experts have established their price prediction for VeChain Thor.
According to the news of U ° Today, VeChain Thor price forecasts are expected to be around $ 21.02 to $ 30.92 by December 2019. This year, VeChain has the potential to sell up to $ 19.6.