VET price soars as VeChain ventures into billion-dollar logistics industry

September 29, 2023 01:32 AM PDT | By Invezz

VET price soars as VeChain ventures into billion-dollar logistics industry — Image source: Invezz

Solving refrigeration issues in the logistics sector

VeChain’s breakthrough will fuse blockchain and IoT devices to overcome refrigerated transport challenges. Traditional setups are vulnerable to data manipulation as most temperature sensors lack unique identification. Meanwhile, VeChain’s state-of-the-art technology introduces a one-time private key to IoT machines during manufacturing.

That forms a robust data generation featuring accumulated data, private key signatures, and an ID for IoT devices. Incorporating these technologies yields an accurate and transparent setup for recording logistics data and addressing various challenges within the refrigerated transportation industry.

VeChain’s innovation will be crucial in refrigerated transportation as accurate temperature tracking remains paramount to preserve perishable products.

Traditional models suffer from temperature detection inaccuracies, often showing the wrong conditions that the cargo endured. Nonetheless, VeChain will ensure precise and continuous data recording to avoid inaccuracies. That’s a notable step towards following transportation standards and ensuring cargo safety.

Furthermore, VeChain trusts its low carbon footprint matches the overall market’s sustainability objectives. The project uses proof-of-authority consensus to support the green initiative.

VeChain’s venture into the logistics sector presents VET as a lucrative project with massive future potential.

VET price

VeChain has VET as its native token. The altcoin remained green during this publication, with recent developments welcoming an upside trajectory. VET gained 2.80% over the last 24 hours to trade at $0.01701 at press time.

VET’s upward stance matched actions in the broad cryptocurrency market. Bitcoin and Ethereum gained 2.64% and 4.01% over the past 24 hours, respectively.

The post VET price soars as VeChain ventures into billion-dollar logistics industry appeared first on Invezz.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.