Two months on from their rebranding event, VeChain continues to add new functionality to their supply chain management blockchain. While they work on their chip-based VeChain ID system, they also actively seek new and innovative means of tagging items. To this end, they’ve partnered with INPI Asia to introduce nanotechnology to their blockchain platform. The smaller and less obvious the digital ID tag, the smaller the chance of a malefactor tampering with it.
Further, VeChain continues to outperform other coins on the market. Where others suffered from major dips in price over the first quarter of 2018, VeChain’s value continues to increase. Recently, it closed in on a previous ATH when paired against Ethereum. As the market turns around, a continued upward trend remains likely. Even more so when their products reach full public release.
Going Big by Getting Small
Emerging technologies often appeal to the same cross-section of people. As such, it’s no surprise when a company combines two or more of these technologies. VeChain recently announced that they partnered with INPI Asia to produce nanotechnology digital ID tags for use with their supply chain management platform. These minuscule tags would still allow access to the VeChain verification system while being invisible to the naked eye. INPI Asia’s NDCode technology focuses on a 5mm x 5mm tag that is effectively indestructible in normal circumstances. The NDCode can withstand temperatures of 1,000° Celsius, the equivalent of complete immersion in a fire.
The combination of the NDCode and the VeChain platform allows companies and end users alike to verify the history of any item participating. This partnership stands to deal a heavy blow to counterfeiting, as companies that rely on quality and authenticity can now positively identify every item in their supply chain. Luxury goods with an NDCode cannot be replicated exactly, ensuring that discerning customers can verify the origin of the item. The shape of the tag is arbitrary, so long as it is at least 5mm x 5mm, allowing the NDCode to come in the shape of a logo or brand design.
The Multi-Party Payment Protocol
Alongside their supply chain management advances, VeChain also seeks to make blockchain more accessible. Towards this goal, they’ve developed the Multi-Party Payment Protocol. Within the MPP, users that own no tokens still gain the advantages of blockchain use. Transactions are secure and transparent, with low fees, despite no use of cryptocurrency by end users.
In the MPP platform, a third-party cryptocurrency holder acts as a sponsor for transactions on the VeChain Thor Blockchain. The smart contracts embedded in the protocol ensure that the sponsor possesses the necessary funds, and then executes the transaction. The sponsor is then paid in fiat by the company that used their service. This type of system, one in which end users do not need a knowledge of cryptocurrency trading, helps the entire industry towards greater adoption.
Upcoming VeChain Systems
Of course, these are not the only projects in VeChain’s wheelhouse. They’ve also announced partnerships with iTaotaoke to help protect content creator’s digital intellectual property rights. In house, they continue to work on a mobile wallet application that allows cryptocurrency trading on smartphones. VeChain continues to progress on their plans, moving at a much faster pace than some of their immediate contemporaries. They’ve earned their spot in the top 20 cryptocurrencies by market cap and may very well edge in on the top 10.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Brookhaven National Laboratory via Flickr
Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors
When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat. These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor. But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.
Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace. The real benefit to trading in these offices is to participate in the free flow of trading ideas and information. Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed. Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?
While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.
Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors. The goal of the platform is to help newcomers shorten their learning curve,…
CoinFlip Scores Big with BRD Wallet Partnership
As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible. While many crypto users are extremely tech oriented, a lot of those on the sidelines are not. The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above. In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country. Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.
In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map. Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells. BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit. The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.
Cryptocurrencies are already making a huge difference around the world. Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…
Cryptocurrency Collateralized Debt Positions Are Growing in Popularity
While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle. Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance. One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess. That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS. These projects have managed to find a foothold in the market and have a better chance than most of staying there. While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.
What is a Cryptocurrency CDP?
In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount. There are several examples of this in our day to day lives. Auto title loans from large companies like TitleMax are extremely popular with consumers. Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has. The consumer can continue using their car as long as debt payments are made.
The same concept applies to cryptocurrency CDPs. Consumers are able to put up crypto tokens, such as…
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