So much has happened to the cryptocurrency market within a very short time. The only survivor, VeChain (VEN) seems to maintain the green tempo for longer than anticipated. 20 major cryptocurrencies market capitalization have dipped except for VEN, an indication that is the coin to put your sakes on.
This could explain why Tim Draper has invested on the platform. This is at the backdrop of rebranding to VeChain Thor. However, major announcements are still coming through and these will soon increase the price. The platform is introducing products that are adding value to the user real life demands.
VeChain (VEN) is spreading its wings across a wide range of industries including liquor, automobile, healthcare, agriculture and fashion among others. Tim Draper, the Silicon Valley capitalist has added trust in the network by investing in it heavily. Tim has invested I other ventures like Tesla, and Skype.
Why the Interest in VeChain?
For starters, VeChain uses smart contracts to track and verify all luxury goods from affiliated to ensure they are authentic. No consumer is ever happy to get counterfeits delivered when they ordered for genuine products. The system ensures goods cannot be tampered with and the system cannot be manipulated.
All goods shipped through the system are tagged to makes the transitional process is transparent and traceable. It sets new standards in the supply chain management. The Draper support is a clear indication of how the platform is trusted and is poised for mass adoption.
Early VeChain (VEN) Adopters and Partnerships
As the platform gears to go live, a lot of interested has been show from high profile partners and investors. The early adoption is a clear sign on where the platform is headed. All these adopters are looking for a secure system that can store information with ease of validation.
With the traditional markets awash with counterfeits, VeChain is set to change the perception and connect the consumer directly with affiliate manufacturers and producers. With the tagging system, you can trace your product to the component or ingredient level. No more worries about what goes into your product.
The system makes it easy to handle consumer complains, if any, given that blockchain does not have any weak points for manipulation. Users can monitor their products from the production line through warehousing to their favorite outlet with peace of mind. With its traceability capabilities, VeChain stands out from cryptocurrency crowd.
With high profile partners like BMW, Oxford University and rebranding to from VeChain (VEN) to VeChain Thor (VET), the supply chain management network is sending a clear message to the investor and user; changing how supply chain management works. The disruption comes at a time where the industry does not have a central depository to keep players in heck.
The usability of the platform coupled with a spendable coin means guaranteed traction. However, more needs to be done on the marketing front. This provides the user with a unique trustless transactions ideal for real life purchases. VEN token is set to gain value and help you get products at reduced prices.
Will VeChain (VEN) Overcome the Price Fluctuations?
Looking at the market performance in general, VeChain has survived the market turbulence and set to face the challenges ahead by staying on course to their vision. However, the price has dipped from a high of 49.44 in January to the current price of $2.65 after shedding 11.51 in 24 hours.
The drop is not isolated but cutting across all cryptocurrencies and Altcoins. The developer team at VeChain (VEN) is working on new features to entice more users to start using the platform. This could partly explain why the coin has been able to survive where the giants and fallen. The recovery route might appear rocky but the new announcements are bringing