VeChain (VET) –Many of us who are not aware of what the Internet of Things (IoT) really is, may be thinking it belongs to IOTA (MIOTA). The need to connect and interconnect humans together (human-to-human), machines together (machine-to machine) and if possible all existing objects on earth.
IoT has a broad conceptualization but IOTA is forgetting to expand it beyond the automobile Industry. VeChain (VET) is going beyond that angle and trying to create interconnections between physical or virtual entities.
The idea behind IoT is to make every object transmit data, interact with other entities across the globe. By IoT’s vision, machine to machine (M2M) interactions, human to human (H2H) connections, and machine to human (M2H) are all possible.
With growing potentials and increasing number of projects, it is easy to say VeChain owns the IoT space.
VeChain In The Luxury Goods Arena
VeChain is going beyond expectation. The platform has cooperated with one of Europe’s luxury brand. VeChain’s embedded customized NFC chips into their leather products to make sure the goods are tamper-proof while also preventing counterfeit products.
Using the chips, the company deploying VeChain’s technology anti-counterfeiting solutions, is able to track its products from the production room to the consumer to ensure a sophisticated lifecycle management with the help of VeChain blockchain technology which stores every info about the product.
In case consumers need any information to get satisfied on the product, they can easily scan the embedded chip using the VeChain mobile application or an NFC reader.
VeChain In Agriculture
VeChain also has a stand in the agricultural industry. The platform provides blockchain-powered cloud services with the help of IoT devices to solve notable problems in that area.
VeChain solution achieves accurate data collection in the farms and ensures quality and quantity of the products in a controlled states.
VeChain In Logistics Industry
VeChain has a tenable use case in the logistics world with its supply chain solution for companies, retailers, storage, logistics, and manufacturers. The blockchain platform helps in the enhancement of information for companies, resulting in efficient and data-protected processes during product movement.
VeChain (VET) and DB Schenker Partners To Use Blockchain In logistics industry
In June, VeChain and DB Schenker announced a partnership to pioneer the use of blockchain in the logistics industry. DB Schenker is regarded as one of the world’s leading global logistics providers with a network of more than 68,000 logistics experts in 2,000 locations. DB Schenker provides comprehensive supply chain management tool, land rail, ocean and air transport.
The company has employed over 5,700 logistics specialists across China and has been in existence for over 50 years.
The two firms collaborated to develop a supplier evaluation system on the VeChainThor platform, signaling the first supplier management tool on the blockchain network.
VeChain’s Drug and Vaccine Traceability Solution
VeChain’s drug vaccine traceability tool is another show that makes VeChain stand ahead of IOTA in the IoT world.
The solution is to be used in solving China’s tragic vaccine scandal. VeChain’s traceability tool was supported and selected by Shanghai government as an outstanding solution that can curtail fake drugs in the country.
BYD, VeChain (VET), and DNV GL Co-developed Carbon Banking Solution
Earlier Today’s Gazette published a report that VeChain (VET) announced the release of carbon banking solution co-designed by BYD, VeChain and DNV GL.
The carbon banking solution is to utilize the VeChainThor (VET) public blockchain platform. The tool is said to be the maiden enterprise level application moving data of trains, buses and millions of cars onto a blockchain network.
Conclusion: Comparing IOTA (MIOTA) to VeChain (VET) is too expensive. The latter is doing great in the IoT world than IOTA who has for some time been wooing the automotive industry. In some times now, VeChain will outrun IOTA in the IoT world completely.