Nov 17, 2018 14:30 UTC
Nov 17, 2018 at 14:30 UTC
Should You Invest in VeChain?
Besides the best altcoins you should invest in this year, another cryptocurrency you might want to invest in, in 2018 is VeChain. In this article, we explore the reasons why you should set aside a part of your crypto portfolio space for buying VeChain.
What is VeChain?
VeChain is a blockchain-based platform which was developed for taking forward the role of blockchain in supply chain. It uses the benefits of distributed ledger technology and makes it tamper-proof and transparent. VeChain is particularly useful for the manufacturing industry, to make sure a coherent database is maintained along the line of supply chain management. It is meant to ensure that consumers get correct information about the authenticity and origin of raw materials and how the processing of the product has been done. The ecosystem is designed to be a secure one, all the while ensuring everyone gets the requisite updates about the quality of products and source materials.
Reasons to Invest in VeChain
With its unique features and stellar quality, VeChain makes quite a strong case for itself. Let us take a look at the reasons we believe you should invest in this interesting new cryptocurrency.
1. Collaborations with Reputed Companies
We have seen VeChain and DNV GL ink a partnership, and the company has also tied up with notable names with PWC, BMW etc. Oxford University Mathematical Institute. Although China has effectively banned cryptocurrencies and many blockchain-based initiatives, VeChain has managed to collaborate with major players in that country too. It also has a strong presence in the tobacco industry of China. It has collaborated with the National Tobacco Corporation of China and the China State Tobacco Monopoly Administration. These big names that the company has started working with in the Chinese economic zone and even elsewhere shows that the company is gradually becoming a force to reckon with. Given that so many important players across industries are interested in teaming up with VeChain, it is clear that it has great potential for adoption and growth. This is expected to drive up prices, increasing the returns for prospective investors. This gives it great investment potential and makes it a cryptocurrency you should definitely consider buying this year.
2. Use Cases that Go Beyond Supply Chain Management
It is obvious that any cryptocurrency that can be used in multiple use cases and adopted across different industries, will see prices rise as its popularity skyrockets. Now, VeChain can indeed be utilised in a number of different spheres, going beyond just supply chain management. It can be used in automobiles, liquor industries, financial products, luxury goods, agriculture, renewable energy, internet of things,data management and many more. This means that it is widely scalable and has the ability to command higher prices as the times go by.
3. A Clear Vision, Guided By a Competent Team
The fact that VeChain is led by a team that is extremely competent and smart in terms of development potential helps to ensure that they will always churn out updates that can be relied upon to be immensely useful, adoptable, dependable and scalable. Its greatly successful CEO Sunny Lu leads a team that develops easily usable blockchain offerings and solutions which only take the company further and hike its investment potential. He has earlier developed the Chinese blockchain startup Qtum, that has enjoyed considerable popularity and success. With the weight of a smart team leader behind it who leads with a vision of creating real-world value, VeChain, that now also offers a private chain for enterprise and business needs, is clearly on the right path. This leads us to believe that it will yield great investment returns and give investors quite a bang for their buck.
If you do decide to invest in VeChain, then do not forget to make sure you get one of the best cryptocurrency wallets in 2018 for storing you VeChain crypto holdings.