- VeChain Foundation advancing blockchain-powered digital ecosystems that align with achieving the U.N’s SDGs.
- VeChain network continues to see explosive growth.
VeChain blockchain continues advancing towards becoming the backbone of real-world blockchain-powered sustainability. The VeChain Foundation has revealed that it is using the VeChain blockchain to address the United Nations’ (UN) 17 sustainable development goals (SDGs).
The VeChain Foundation notes in an accompanying blog post that the sustainability-focused digital ecosystems it is building also empowers people. This is because it gives new value to data and drives positive social outcomes for all.
The UN’s SDGs highlight a wide range of sustainability topics. These include poverty, hunger, health, education, clean water and sanitation, clean energy, decent work and economic growth, sustainable cities, responsible consumption, and more.
According to the VeChain Foundation, VeChain has built and is building more blockchain solutions to address these pressing sustainability issues. VeChain’s supply chain ecosystem projects enable blockchain-based ethical resourcing, health, and financial empowerment projects.
These VeChain-based projects have helped global brands, regulators, and consumers access tamper-proof records of origin, movement, and authenticity. This has translated into greener cost-effective production and supply chains and better health outcomes.
Meanwhile, VeChain’s roadmap for 2023 and early 2024 will continue to focus on implementing sustainability-focused improvements. These include launching a Carbon footprint explorer and carbon footprint modeling layer within the first half of 2023. The post notes.
A key concept of our current development is the ‘digital ecosystem’. Such systems represent an evolutionary leap in terms of interconnection, information sharing and collaboration, enabled by the power of VeChain’s blockchain,
This is not the first time VeChain is highlighting strides made in onboarding sustainability use cases to the blockchain space. VeChain CEO Sunny Elu stated in a recent interview that with VeChain’s focus on sustainability, it is poised to become the network to spearhead the mass adoption of blockchain technology.
The evolutionary tale of #VeChain is long.
In 7+ years since launch, our #blockchain has undergone many upgrades, serving hundreds of enterprises across multiple sectors.
— VeChain Foundation (@vechainofficial) January 16, 2023
Will VeChain mass adoption drive a VET price surge?
VeChain aficionados are highly optimistic about the network in 2023. This optimism is also shared by the VeChain Foundation which recently shared that with a war chest of assets valued at $397 million as of Q3 2022, it can weather any crypto market storm.
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The price of VET, the native token of the enterprise-grade L1 VeChainThor blockchain, has traded impressively in the market. On the day, VET is up 5.13 percent while trading at around $0.023. This is a 47.9 percent climb year to date for the token.
Similarly, the VeChain ecosystem is seeing massive expansion. Even more sustainability projects are launching on the network. Earlier this week, UCO Network revealed that they would leverage the VeChain network to revolutionize the used cooking oil and biofuel industry. The platform intends to use VeChain to improve the transparency and security of its marketplace.
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