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

NFT


  • VeChain is highlighted in a new article as one of the best-suited blockchains for implementing healthcare data management solutions.
  • It has also just released a proprietary chipset that will help reduce fraud in the second-hand market using NFC and NFT technology.

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

a recent magazine article highlights VeChain as one of the best-suited blockchain platforms to alleviate healthcare data management challenges. The article is titled ‘Selecting the Most Suitable Blockchain Platform: A Case Study on the Healthcare Industry Using a Novel Approximate MCDM Framework.’ And it was published in the journal Technological Forecasting and Social Change.

In academic work, the authors point out that the challenges of health systems data management arise from the fact that the sector has multiple key players. These often include medical and drug providers, insurance companies, third-party logistics (3PL) providers, and regulators.

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

VeChain is not new to developing solutions with use cases in the healthcare system. VeChain has onboarded several key players to its drug and vaccine traceability solution. These include Bayer China, the Chinese arm of multinational pharmaceutical and biotech giant Bayer.

VeChain is also the only public provider of blockchain technology 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 gaining adoption in many 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 companies are collaborating on an initiative to use blockchain technology to transparently finance the removal of plastic from the oceans in Indonesia.

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

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In a separate statement, the VeChain Foundation notes that it will also pursue this goal more broadly outside of the BYD partnership. The network is eyeing the recent publication of the Parliament of the European Union that proposes to introduce “digital passports” to keep track of the sustainability of all types of batteries.

The EU Parliament said it has reached a new agreement to review battery rules and take into account “technological developments and future challenges”. These include the introduction of “tougher targets for waste collection, recycling efficiency and material recovery.” These new goals can be achieved with blockchain technology, VeChain it states

Surprisingly, VeChain has also introduced a proprietary chipset to authenticate real-world products. The chips combine NFC with NFT and blockchain to reduce fraud in the second-hand market, according to an announcement.

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