Blockchain technology has been around for a while now, and looks set to transform everyday life. It is already revolutionizing finance, by changing how we view money with Bitcoin increasingly challenging the banking system. Other blockchains like Vechain are set to change the global supply chain for the better, by eliminating inefficiencies, such as counterfeits, in the system. On their part, platform blockchains like Ethereum are set to change how we use the internet, with applications that empower the consumer with more privacy and data control. The possibilities are endless.
In spite of the possibilities that come with this tech, there is a challenge. Apart from the payment cryptos, like BTC, the others such as those focused on IoT are a little bit too complex for the layman to understand. For instance, Vechain is doing a great job in allowing for traceability of a product on the blockchain.
Three Italian wine makers are already using it for this purpose. Now, the big question is, how can an SME that doesn’t have deep pockets, or much tech expertise make use of such a service. To these businesses, this tech is still out of reach, yet they are the ones that need it most. The Vechain team understands this, and that’s why they came up with the Toolchain. The Toolchain is an ingenious idea that makes it possible for someone with no coding background to use Vechain. To quote the Vechain team on this product,
“ToolChain is a comprehensive blockchain platform offering diverse services including: product lifecycle management, supply chain process control, data deposit, data certification, and process certification. With ToolChain, any sized business, no matter how large or small, can utilize blockchain technology to further enhance brand perception and value as well as to expand into new business models using immutable data.”
To make it even more enticing to businesses, the Vechain team also offers Toolchain as a customizable solution. This means, anyone creative enough to identify a use case in their locality can use it, to build a business around the Vechain blockchain. This offers a tremendous opportunity for the adoption of Vechain. Essentially, the Toolchain eliminates two of the biggest obstacles to blockchain mass adoption, and that’s cost and technical know-how.
For Vechain investors, this ingenious solution can only mean one thing, value growth. Since Vechain (VET) is the crypto driving the Vechain ecosystem, the mass adoption of the Vechain blockchain would mean a huge increase in demand for Vechain (VET).
This makes Vechain (VET) one of the cryptos to watch going into the future. It may have taken a beating in 2018, but with its adoption potential, and increasingly bullish market, fortunes could change. Bitcoin has already broken $7k and all indicators are that it is going higher. Once altcoins catch up to this rally, Vechain stands to be one of those that could give investors insane returns. The best part is that, it has already set itself well for long-term success. The future looks bright for VET.