- VeChain partners with UFC to offer solutions to real world problems.
- Sunny Lu, VeChain CEO, cited 6 ways on how their blockchain will change the world.
- The foundation is currently offering more opportunities around Europe.
VeChain Foundation, a leading enterprise-grade L1 smart contract platform, has recently partnered with the Ultimate Fighting Championship (UFC) to offer solutions for sustainability, Carbon Management, Medicine, Automobile, Energy, DeFi, and more.
Co-founded by CFO Jay Zhang and CEO Sunny Lu in 2015, VeChain initially started its operation as a private consortium blockchain network. They acknowledged that blockchain technology could alter the course of industrial processes that includes data sharing, that’s why they concentrated in public blockchains.
Accordingly, VeChain launched a public version on Ethereum blockchain using token ticker VEN in 2017. Then in June 2018, VeChainThor and VET token was released to the public.
In an interview with CEO Lu, VeChain foundation disclosed what are the company’s offers for future’s plan & use cases of their blockchain technology.
“VeChain is a versatile, powerful, smart contract platform with unique features, built to tackle the challenges facing the real-world adoption of blockchain tech,” Lu stated in an interview with UFC. Adding that VeChain had “zero percent downtime in four years” and has been used in several fields and used by real world clientele.
As per Lu, VeChain is unique because “its technologies are being used for tangible applications in the real economy.” Their platform acquired commercial contracts with giant companies, such as Walmart, and has a close working relationship with major consulting firms including DNV and PwC.
Lu also cited six ways on how VeChain can further impact the world. These includes an incentivized ecosystem in San Marino, plastic reclamation from the hydrosphere using blockchain, Carbon recording using blockchain, and tracking the lifestyle of goods from production to end of life, allowing companies to share green credentials/activities with consumers, and eliminating fraud in secondary luxury markets by using embedded NFC chips.
These projects are presently operated by VeChainThor blockchain. Currently, VeChain is focusing on creating more opportunities in Europe. The firm is opening a new HQ in San Marino, a new tech center in Ireland, and a new business center in Milan.
