Global trade is at a tipping point. Trade imbalances between different countries are at a point where they are causing political friction. Case in point is the ongoing trade tensions between the U.S and China. But while the problem of global trade and the resultant trade conflicts is largely political, there is another angle to it, and that’s counterfeits.
Some countries, due to weak regulations or government abetting, have developed entire industries that are based on counterfeits. So much so that, at this point it is hard to tell an original product from a fake. Since counterfeits are cheaper, they not only hurt companies, but entire economies as well, creating the heavy trade imbalances characteristic of the global trade environment today. But like all other problems, the problem of counterfeits and other causes of imbalances in the global trade environment are an opportunity for those who can provide a solution. That’s why for a crypto like Vechain (VET), which is offering solutions to the challenges facing global trade, the opportunity for growth is huge.
Vechain is the solution to the problem of counterfeiting that has negatively impacted on different industries including luxury goods, among other industries. Vechain makes use of proprietary RFID technology to enable companies track their products through the supply chain.
This way, they are sure of the movement of all their products all across the world. Consumers too can use the Vechain blockchain to verify whether the products they are buying are actually from the brands that they think they are buying from, hence significantly cutting up on counterfeits by a huge margin. With a reduction in counterfeits in the global supply chain, trade would be fairer and some of the political flare ups emanating from trade imbalances all across the world would reduce as well.
With such massive potential to help in fixing global trade, Vechain (VET) stands in a unique position to grow going into the future. Considering that this crypto has taken a huge beating in this bear market, its chances of growth once the Bull Run returns are quite high. It is in a unique position to draw in both speculators and investors looking into its use cases as a source of long-term value for two reasons.
First, its price is at a level where the risk-reward ratio is quite good. At its current price, the chances of a more drastic slide in value are lower than its potential for an upside break. That’s because it has lost so much value in 2018, and doesn’t have much downside room at this point, unless it’s going to zero, which is highly unlikely. Second, for the past two days, bulls seem to be making a comeback in the markets, which means that the entire market could be about to make a rebound.
Whether, the bulls come back now or later, Vechain (VET) could be headed for a major gain in price, as its value in global trade becomes clearer to investors. $1 Vechain (VET) in the next few years is a realistic possibility.