3 Reasons To Buy VeChain

3 Reasons To Buy VeChain

One of the most popular cryptocurrencies many investors haven’t heard of, VeChain ( CRYPTO:VET ) had quietly worked its way to a top-25 spot in the crypto world as of early November. However, since hitting its all-time high in April of this year, VET has lost approximately 40% of its value.

In some ways, the stock chart of VeChain looks similar to various meme tokens that have surged, and fallen, before surging again. There’s some market-related sentiment to be factored in for all cryptocurrencies. However, VeChain is unique in that this network provides utility that other networks simply don’t. Right now, VET is a token I’m seriously considering as a token, due to this real-world utility.

Let’s dive into a few reasons why this token is near the top of my watch list right now. Image source: GETTY IMAGES. 1. VeChain is built for business

Like other cryptocurrencies, VeChain states that its aim is “to build a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers.”

Pretty generic, I know.

Most cryptocurrencies exist for the purpose of collaboration and high-speed value transfers. However, it’s the way VeChain allows for information flow that’s enticing to many crypto investors.

A number of use cases are listed on VeChain’s website for users to view. Many of these involve the ability of end users to track their products and conduct quality assurance using VeChain.


Well, via utilizing VeChain’s blockchain and assigning a unique ID tied to VeChain blockchain in VeChainThor , companies can track goods and services by embedding this ID in a QR code on said product. A number of quality assurance companies have begun to switch over to using blockchain-driven solutions, due to lower costs and ease of use. VeChain is among the leading crypto networks used for this specific purpose.

Among the examples on the website is that of a fresh dog food manufacturer based out of China. By using VeChain’s blockchain traceability functionality, the company is “able to provide proof of pet food ingredient claims by telling a brand’s story in a trestles manner that is unable to be replicated by any other solution in the market.”

Sounds good to me. 2. This isn’t just some small-time operation VeChain is running

VeChain has really gained traction with its tried and tested blockchain-as-a-service model. Indeed, a number of high-profile partners have emerged using VeChain’s blockchain to streamline its supply chain.

Among the biggest “customers,” or users of VeChain’s blockchain technology, is Walmart . In 2019, Walmart announced it would be partnering with the VeChain Foundation to streamline product management between its suppliers, stores, and customers using its blockchain network. This partnership would be specifically for Walmart’s stores in China.

Indeed, crypto investors bullish on the ability of cryptocurrency networks and blockchains to provide real value and innovation within the economy can certainly point to VeChain as one of the leading cryptocurrencies in this regard. 3. The merging of IoT and DLT technologies is a big catalyst

VeChain has been perhaps the most successful case study in how meaningful innovation in the global economy can result from the combination of a distributed ledger technology (DLT) with an internet of things (IoT) adjuvant. Indeed, as far as the integration of crypto/blockchain technologies and physical goods, VeChain makes one of the best arguments that we are indeed entering a new dawn.

The IoT market is one with absolutely enormous growth potential. And it’s still in its infancy.

The potential for VeChain to be integrated within various IoT technologies for solutions far exceeding the supply chain management niche currently utilized by companies on the VeChain blockchain is incredible. There are a world of opportunities for companies to streamline their operations and become even more productive using the VeChain network.

Chinese companies have, perhaps unsurprisingly, been first to jump at this potential technological revolution. QR codes and the IoT space is a much bigger deal in China than it is in the U.S. However, it’s a pretty easy argument to make that if companies are gaining real, measurable efficiencies using VeChain capabilities, that this blockchain revolution could go global in a hurry. Bottom line

The fact that so many high-profile users of the VeChain blockchain have seen meaningful business improvements suggests there’s a tremendous amount of value. Accordingly, VET, the native token of VeChain, should theoretically increase in value in accordance with the intensity of use and desirability of the network.VeChain, like many cryptocurrencies, is capped at 86.7 billion. All tokens have already been minted. Accordingly, investors banking on VeChain […]

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