Project Update: VeChain (VET) the trust-free and distributed business ecosystem

by birtanpublished on August 4, 2020

Hello descriptive coins today is very hot 25th of July 2019 and welcome to this project update for Vijay now I have done a similar video around the year girls I do think it's time for an update for this project as always thank you very much for watching and we will begin

With the basic so basics pitching is a trust free complete and distributed business ecosystem that is based on the blockchain technology no it does focus on variety of different solutions for different markets now those include

Liquor luxury goods retail agriculture and logistics now scope wise the project is very very big with planning of different solutions incorporated into it now usage wise we change combines blockchain Internet of

Things devices unique IDs and NFC switch stands for near field communications all of those together will provide a comprehensive Boston based ecosystem mostly for logistics and products now obviously we chain has their own token

Actually have two tokens that have bet and we thought power the closest comparison to that would be neo gas now if you do wonder which homage by I would definitely buy that because that actually generates the other token so

That's probably the better solution or the function of the bat is to serve up as the smart payment currency to enable rapid value circulation within the ecosystem based on the V chain blockchain now the third power on the

Other hand represents the underlying cost of using the B chain blockchain and it will be consumed proportionally burned after certain blocking operations are performed such as transferring but or executing smart contracts now we

Chained they do have a lot of user very active on social media and the most recent important updates are first of all L 28 which is a branded premium meat supplier in Western Australia they joined hands to be chain to develop a

Meat traceability solution now this obviously comes through the after a very big knees of partnership with V chain I will form a China or 23 products lines have been tested and launched on the beach in cut from making

Obviously blockchain usage in supermarkets a reality something that a lot of projects are trying to achieve a vision Foundation has recently announced a bed buyback plan worth up to twenty five million us dollars that will be

Performed in twelve months on an open market starting this month which actually kind of happening for five million US dollars not five dollars and according to the publish address you can actually track all the buybacks that

They do they're mostly using violence and ocean X and already both around half a million worth so they do seem to be keeping the promise and actually buying back tokens and obviously buying back means increased demands now how much

Would that actually increase the month is a different story but I do still think it's a very good plan because it's similar to something of – does now usually this is where I talked about the roadmap but they don't have a roadmap

They did however do an ami which means ask me anything what they addressed any questions that the develop about the investors or people simply interested in be chained hot so Tim is trying to expand to the US market those are just

The highlights there was a lot more information but the highlights are the most important bits that kinda hand-picked to highlight here so the team is trying to expand to the US market

Apparently DNV GL which is the biggest investor in kind of only really of each team you do have a lot of stake in it they have been working with you as healthcare provider on some projects they're also working hard on the us

Regulations because they're trying to really enter the US market now they're not against being listed on more exchanges but they don't really see it as a priority the team wants to add more perks or the current X note holders

Something that people are complaining people that own Exynos know what I'm talking about now more partnerships there still have underway and are working on Walmart China has invested a lot hundred millions USD plus

To build their supply chain infrastructure and also the increase in the magnet activities not purely from warmer China and reaching did actually see a lot of new activity on the main Network now availability and the price

Of the token we chain we are talking about that I'm not talking about the beachings or token so what is currently available all of the main exchanges that includes ocean acts which most of the Bonin coming through which is not

Surprising considering ocean X is actually built on V chained and we have early token violence also an exchanges like bit mark hit bit to see who will be L Bank BitFenix and many many more but if you don't want to purchase any

Significant amounts probably ocean X if you may lay in bed although the volume even on the smaller exchanges is still very high this is a very popular token now the theorem is the most popular pairing also paired with used ET tether

Bitcoin and many more current price as 25th of July is around six tenth of a cent and the token is being ranked on 31st place in terms of market capitalization with a market cap of around three hundred and thirty-four

Million interval token ins in circulation fifty five billion out of 60 after eighty six billion are in circulation that means 64 percent so another 36 will still be introduced on some point in the future this is the

Price graph since the vent the best conversion beaching has been struggling with price as visible here although it did go price if you look at it will go up in price if we look at December but if we compare the price compared to

Bitcoin it actually lost in value which is not great so it's pretty much the same for all of the outcomes how is it doing in my personal opinion not a financial advice about this project so featuring doing study progress and it's

Still not in top 30 projects in terms of the evaluation it's one of the few projects already used in real life situation Walmart but not on it a lot of different projects of different companies are using it which is visible

Through increased magnetic activity on top of that the significant partnerships should ensure even more future use case now we do have projects like Bitcoin SV butkin gold is here in classic name and many many others that are ahead no I

Don't wanna bash those projects but I really failed to see what they offer really to justify the valuation it's not just though for probably would say there aren't 20 projects that already the 20 projects in the top 30 that I can't

Readjust off' i the valuation of now we don't know whether any of these projects are overvalued or reaching is undervalued but i do see that in terms of the progress and potential wet token market cap should be somewhere between

Years and tron so that would mean easy 10 times increase how do not say that's gonna happen hobby chain is currently my third I guess holding so I'm obviously biased I do like this project very much I think

It's still something that we could consider a hidden gem because of the valuation and I do think that if the team keeps on doing what they are doing they're on a very good track to become the main logistic supply token and

Platfrom for that matter as well which should obviously increase the demand for the existing tokens I'm very bullish on this project I'm not going to pretend I'm not and I'm personally happy before the donor I'm not personally happy with

The price how it's been progressing but like I said many times before cryptocurrency markets are mostly based on speculation and hype something that we change is lacking for now but I am very positive about it in the future

Thank you very much for watching and I hope you'll see so if you have any questions let me know and subscribe for more cherish and I do love you bye

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