A few days ago, Vechain’s Sunny Lu announced that in a few years, Vechain will influence every aspect of life, and people won’t even notice it. Now it is clear what he meant by this, thanks to the announcement of a partnership between Vechain (VEN) and INPI ASIA. The partnership all about a new digital identification technology known as NDCode. NDCode combines Nano-technology, and photonics technology to create digital identification that tramps the challenges of existing RFID technologies.
Through this partnership, Vechain will be usable by organizations in ensuring the identity of a product cannot be altered at any point of the supply chain. Thanks to NDCode technology, Vechain will allow for authentic tracing of any product, protection of corporate servers through digital auditing, and the tokenization of every asset in the supply chain; including raw materials.
Just to give you an idea of the power of this partnership, NDCode can be used to verify the authenticity of art for hundreds of years, without any risks of alterations. That right there is a massive disruption to the over $40 billion arts industry, where more than half of the products are counterfeits.
So how does this new technology impact on the value of Vechain (VEN)? First, we are likely to see an increase the use case of Vechain Thor blockchain. Given the versatility of NDCode, Vechain is likely to gain mass adoption by both governments and the private sector. Basically, anyone who requires data authenticity and credibility needs NDCode, and by extension Vechain.
If Vechain were to be adopted by governments all across the world, the intrinsic value of VEN would increase exponentially, given that governments are some of the largest institutions in the world. But even in the private sector, NDCode technology has a strong use case in the trillion dollar global financial services industry, the manufacturing industry, fine arts among others. All these are huge industries that touch on the day-to-day lives of the global population. That’s why Vechain is probably one of the most fundamentally strong cryptos in the market, thanks to this partnership.
If this partnership works out right, and Vechain gets adopted by a wide variety of industries, then this crypto could easily out-perform the market not just in 2018, but also in the years ahead. That’s because its value is not based on speculation and promises to deliver, like most other cryptos in the market, it is actually delivering. It has already been adopted by several major industries including the auto industry, through a deal with BMW.
Sunny promised that Vechain will touch on everyday life, and NDCode is a good indicator to this happening in the near future. Clearly, VEN is one of the best investments for value investors. If the current price movements are anything to go by, then VEN could close the year at over $20. All it will take is the widespread acceptance of the new NDCode identification technology, and Vechain (VEN) will headed to the moon.