The truth about Vechain (VET) – team that keeps delivering

June 8, 2023

Another day, another positive news from VeChain corner. A national level partnerships in the economic growth area of China are standard for VET – partnership after partnership with companies and institutions of high caliber are pretty much a regular thing for this team. This time it is a collaboration with one of the biggest companies in Shanghai, government owned Lingang Group.

China government is known to want to be able to control everything. Their government has been studying blockchain for years. Crypto currencies may have long term problems, but utility tokens such as VeChain Thor look to be fine and in good graces with the authorities. They can be direct benefit to big business in China, and to the Chinese government.. Saving them billions and allowing great insight into how their products move around the world.

Further evidence to the above claim is the 2018 Blockchain & Industry Convergence Development Forum and the National Eastern Tech-Transfer Blockchain research lab establishment conference, that was held on 25th May 2018 in Shangai. The goal of this conference was to point out the importance of blockchain technology and correlated innovations.

One important name which attended this event as an honorary speaker was Kevin Feng, the COO of VeChain. Mr Feng and the rest of the VeChain team decided to do more than just spread the good name of blockchain and took the stage to announce an upcoming partnership with Lingang International Manufacturing Exhibition Trading Center.

“Lingang Group is a large state-owned enterprise directly held by the Shanghai State-Owned Assets Supervision and Administration Commission. They are the largest company in that focuses on investment, development and operation of industrial parks and related supporting services in the park for the area. Lingang Group serves as the government administrator in their development zones employing over 400,000 people, registering over 8,300 enterprises to their zones, and creating a GDP over 7,400 Billion RMB,” a quote from VeChains official medium post announcing the partnership says.

Lingang Group are a state-claimed venture organization focused on speculation, advancement, and activity of modern stops and related supporting administrations in the recreation center of Shanghai. The plan for the cooperation is to team up with VeChainThor, a Blockchain-as-a-service enterprise, which aims to develop decentralized business ecosystems that ensure transparent and fast flow of value and information alongside efficient collaboration of its members.

VeChain itself has been designed with a single goal in mind: to enable massive-scale adoption of the VeChainThor blockchain and thus changing the world by empowering its individual members. VeChainThor is currently entering its Public Alpha Test phase which will show if the platform is indeed ready to deliver low transaction costs, better financial services and overall improvement of the current blockchain environment it promises to.

This collaboration ensures that Lingang Group will be able to facilitate blockchain innovation across multiple industries, state or privately controlled. Basing their enterprise on the VeChainThor blockchain should provide Lingang with an excellent jump-board into the upcoming blockchain revolution.

The truth about VET is simple – team of professionals combined in one great company that is at the start of a new dawn in technology!