VeChain is the first blockchain that was created specifically to meet with the needs of the ever growing supply chain industry. The VeChain nodes don’t just improve trust, they also increase transparency, cut cost, and promote efficiency when applied to supply chain management. As we have already established in the past, being the first blockchain to offer these unique services have given VeChain an edge over other blockchains and it has improved the VET VeChainThor price prediction. Now, an expert in the field and the chairman of Blockchain Research Institute, Donald Tapscott, has made an observation that will impact the VeChain nodes and VeChain mainnet.
VeChain News – VET VeChain Thor Price Prediction To Be Influenced By The $50 Trillion Supply Chain Industry
Ever since the inception of blockchain technology, there has been an unpopular opinion that blockchains lack scalability and cannot be used for important things. During an interview with Bloomberg, Tapscott said that this assumption is a myth. He made reference to the fact that the supply chain industry is starting to explore blockchain technology because of its numerous benefits and VeChain is going to benefit the most from this shift. According to him, FedEx is making plans to rebuild its business on the blockchain. VeChain nodes or VeChain mainnet may be the best option for the supply chain giant.
While many other blockchains have been created after VeChain to attend to the needs of the supply chain industry, VeChain is clearly dominating the market. This is evident in the VeChain news about VeChain partnerships with different companies including DNVGL. The DNVGL platform which works with VeChain nodes on the VeChain mainnet allows companies to track products on the VeChain blockchain. So, far, three wine producers in Italy are using this service. This service is used to solve one of the most pressing problems in the global supply chain industry which is counterfeiting. VeChain also worked on a project with the China-based company, BYD among others.
VeChain News – How Will VeChain Benefit From The $50 Trillion Supply Chain Industry? Will The VeChain Thor Price Prediction Be Influenced?
VeChain has already proven that counterfeiting can be eliminated when blockchain technology is applied to the supply chain. When other companies want to explore blockchain technology for supply chain management, they will be more inclined to use the VeChain nodes which already have real-world use cases. This would drive mass adoption of VeChain and in extension the price of the VET VeChain coin.
The fact that the VeChain mainnet has already gotten a headstart in China is a big deal because China is the center of the global supply chain market. Almost everything on the global supply chain is shipped from China. The VeChainThor blockchain gives manufacturers more power over what they produce and builds the trust between members of the supply chain from the manufacturers to the end users.
Right now, VeChain is affordable. Each token sells for about $0.005987. It is down by 5.93% against the USD and down by 2.75% against the price of BTC. Keep in mind that the entire cryptocurrency market is currently bleeding out. Almost every cryptocurrency is losing ground against the USD. The trading volume for VeChain is $15,967,326 and the market capitalization is $332,014,323.
Irrespective of the current price of VeChain, the VET token is a high growth token. It has the potential to cross the $1 mark and move higher against the USD. If the VeChain network can dominate even a small fraction of the supply chain management industry, it would quickly become one of the top five tokens on CoinMarketCap.
What do you think about the VeChain news today? Will the supply chain industry be the game changer that would affect the VET VeChain Thor price prediction? Share your thoughts in the comment section.