VeChain VET/USD is a blockchain that wants to end the counterfeiting of goods. Essentially, VeChain is an anti-fraud technology that utilizes the cryptocurrency space to provide companies with supply chain management services to keep track of just about anything.
It uses distributed governance alongside the Internet of Things (IoT) technology to create an ecosystem that solves major issues with supply chain management.
VET has a catalyst for growth.
The VeChain PoA 2.0 Testnet ran at 2500 Txs per block. At this time, the testnet was estimated that it could be handling 21.6 million transactions regularly.
VeChainThor version 1.5 activated the hard fork known as ETH_IST and ensured VeChain’s compatibility with the latest Ethereum virtual machine. This hard fork required all nodes to upgrade to the latest version of the protocol software.
On June 4, VeChain announced that together with DNV, they are enabling Renji Hospital, in China, to launch the very first blockchain-enabled IVF Service App known as MyBaby.
This is in response to the emotional and stressful IVF process journey for women and families on a global scale. China’s IVF market is on track to surpass $2.8 billion by 2025 according to research, so if VeChain is a part of this, who knows how far its value might get by 2025 as well.
Investing in the future of item management
VET is the cryptocurrency token that you can invest in, and serves as an increment of value within the blockchain itself. The token can transfer value across the blockchain and even trigger smart contracts.
There is also a second token known as VeChainThor Energy or VTHO, which works as gas that powers the smart contract transactions, and this token is not publicly available.
When more companies start implementing VeChain functionality into their systems, such as the partnership with DNV at the Renji Hospital to name an example, the VET tokens can potentially become a lot more profitable to hold onto and sell at a later date.
In fact, by the end of the year, we could potentially see a lot more interest in the blockchain due to its recent upgrade and a hard fork, and at $0.1105 it might be a worthwhile investment, given the fact that historically, such as on April 18, we have seen its value soar to $0.2546, which made it 130% higher than it is today.