FAANG is an acronym for Facebook, Apple, Amazon, Netflix, and Google. These are some of the largest and most powerful tech companies in the world. Two of them, Apple and Amazon have already hit a market cap of $1 trillion. That’s indicative of how powerful and influential these companies have become. But what makes them stand out? Well, while their biggest source of value is in the strong value proposition of their products, they also draw lots of power from their ability to leverage on big data.
These companies’ collect huge amounts of user data, and can leverage it, not just offer better services in the present, but also predict the future needs of their clients. In the crypto word, Vechain stands a good chance of leveraging on big data to get as big as FAANG or even way bigger than them.
Vechain has potential to rival them because its capacity to collect data is bigger. It basically takes the whole big thing to an even bigger level. With Vechain, it is possible for a shoe company to track the behavior of its consumers at a more personal level. For instance, such a company can easily determine how long their customers hold on to their shoes.
If the rate of replacement is high, such a company can research on it, and find a way to maximize sales. This can be applied in practically any industry where a physical product is shipped. Simply put, Vechain turns every product into a smart tool for collecting user data to leverage on, and provide an even better product offering. With such huge potential, Vechain (VET) stands to gain in adoption in a wide variety of industries, making it a massive big data tool, which has the capacity to rival that of FAANG.
For investors, this is definitely a good enough reason to be invested in Vechain (VET). That’s because as the value of the Vechain (VET) blockchain increases, so will the value of Vechain (VET), since it is the native coin of this blockchain. Therefore, as adoption grows, so will the value of Vechain (VET). If big data places Vechain at the same level as FAANG in terms of how much information it holds, then the value of Vechain (VET) could shoot up significantly.
However, in the short-term, adoption will be driven by companies looking to beat counterfeits. There are lots of brands out there whose value has been eroded by counterfeits. Such brands can leverage on the power of the Vechain blockchain to eliminate the threat this threat. In the near future, pretty much all manufacturers will be using Vechain as a standard to deal with counterfeits.
This will add significant volumes of data to the Vechain blockchain and will see its value in the market rise significantly in the next decade. With such strong potential, it then follows that Vechain (VET) is one of the highest potential blockchains in the market today. Once its value in big data is fully established, Vechain could gain by several thousand percentage points in the future.