VeChain and TruTrace announce their entry into new industrial markets

The blockchain platform will work with the cannabis, food, apparel, and pharmaceutical industries

27.09.2022 - 06:45

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2 min

What’s new? VeChain, a blockchain platform, and TruTrace, a cloud-based SaaS solution, have announced a collaboration. As part of it, companies from various industries that use the TruTrace service will be integrated into the VeChain platform. According to the announcement on Twitter, VeChain will now also be used in the food, apparel, and pharmaceutical industries, as well as the legal sale of cannabinoids.

#TruTrace Technologies and #VeChain :--------------------------------------------#TruTrace and #Vechain announce the integration of their complementary technologies on the blockchain platform for the legal cannabis, food, apparel and pharmaceutical industries!@vechainofficial pic.twitter.com/KX4N5rKym4— Ⓥ Ve-Chain-Collector Ⓥ (@collectingvet) September 26, 2022

What is known about VeChain? The blockchain platform was founded in 2015, it uses the Proof-of-Authority consensus algorithm. It specializes in supply chain management and automation of other business processes. The network has native tokens VeChain (VET) and VeThor (VTHO), the second cryptocurrency is needed to pay fees. It cooperates with large companies such as BMW, BYD, and Walmart.

As of September 27, 06:40 UTC, VET is trading at $0,02391, having gained 8,73% in 24 hours, according to Binance. The asset ranks 37th in the cryptocurrency ranking with a capitalization of $1,73 billion, according to CoinGecko.

Earlier, BNB Chain entered into a partnership agreement with Google Cloud. The collaboration between the companies aims to support the development of Web 3.0 technologies and early-stage blockchain startups. All projects based on BNB Chain would have access to Google Cloud’s infrastructure, including the ability to analyze data and encrypt information using the service.

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