Vechain (VEN) is a crypto on the move, no question about that. That’s because in the last few weeks, it has announced a number of partnerships that will have a significant impact on its future value growth. For instance, it has partnered with BMW, PWC, among other world leading corporations. But it is its latest announcement that is guaranteed to change the trajectory of this coin for good! Today, Vechain has announced on Twitter that it would be implementing a distributed data vending system. The tweet read as follows:
“Introducing Distributed Data Vending (DDV), the future of compliant data sharing exclusive to VeChainThor. Putting power back into the hands of enterprises, customers, and researchers to collaborate and revolutionize the way the world shares and advances!”
So what exactly is DDV all about? Well, as you can see in the Tweet, Vechain (VEN) intends to put the ability to control data in the hands of data owners. As things stand, big data is only accessible to large corporations that manipulate it to sell adverts and other data related revenue streams. The providers of that data never get to benefit, and Vechain’s DDV intends to change that. Through this new development, any person can profit from their data by selling it on the blockchain.
The biggest impact of this new technology will be in healthcare. While big data is important for medical research, especially in understanding how diseases develop, there is a disconnect in how this information is usually distributed. For instance, the patients who are providers of this data never get rewarded for it, yet they get to pay huge medical costs once new drugs are developed with their data.
On the other side of the spectrum, the researchers too have a hard time accessing such information. That’s because they have to comply with numerous government regulations before they can make use of such data. Vechain’s DDV is guaranteed to change this. By creating an environment where data can be exchanged on the blockchain, health data providers (the patients) will benefit and the consumers of this data (the research companies) will have an easier time accessing it. The ripple effect will be a gradual decline in the cost of medical research, and consequently a decline in the cost of healthcare in general.
Clearly, this is an innovation that will most likely have an impact across industries, and especially in one of the most critical sectors, and that’s healthcare. Once implemented, you can expect it to significantly impact on the value of Vechain (VEN).
A long-term thinker can tell you that Vechain (VEN) is probably one of the best cryptos to invest in, and hold for years. It may not shoot up in value overnight, but the chances of it getting to over $50 in the next five years are quite high. All it will take is for the platform’s current projects to start bearing fruit. And they will! That’s because they are all practical projects that will change industries for good.