Ron G Jun/ 15/ 2020 | 0
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In today’s blog, we’re gonna be talking about a little bit about Vechain.
We got an article here from beingcrypto.com and this was written by Anton Lucian. Basically what it mentions is China approves 224 new blockchain projects from big-name brands. If you’ve been following the history of President Zee Thing which is the prime minister or a president of China. He mentioned that there are 2 projects or technologies that he wants China to expand on and be kind of the training leaders around the world and those 2 are artificial intelligence which is AI.
The second one is the blockchain technologies. The president you know he’s creating a lot of smart worlds you know. I think in GUI he’s building a 100% blockchain enable technology country. In the article, it says that they approved another 224 blockchain projects in the fine tech space majority of them. It’s gonna provide some competition to the Vechain but it’s also gonna benefit Vechain quite a bit in my eyes because of these 224 blockchain projects. Vechain was number 66, I think this is gonna be good for Vechain because of all of these other companies. Let’s say it’s 300 or 400 other blockchain projects that were approved in China.
It’s gonna help with more mass adoption. So, more adoption, more companies as they see Vechain and other companies get into the blockchain space or promote blockchain or get more marketing dollars towards blockchain. I think it’s gonna benefit because we all know that the leader I would say in blockchain technology and the early adopters who have been implementing this for the last 5 years is Vechain. That’s why I think this is good news. It is a competition but like I mentioned Vechain has a lot of skin in the game.
This talk about 224 projects to proceed and Alice Crypto she mentioned is on Twitter. Announced a third batch list of blockchain filings 224 projects approved 40% of them in Beijing and there is 53 fine tech. So financial tech blockchain projects which are the largest category accounting for a quarter of them. That’s great news. Maybe some of these blockchain projects are just gonna white-label Vechain technology. It’s exactly like Ethereum. Why reinvent the wheel. Just start using Ethereum Blockchain and build upon it. They might be using toolchain who knows. I think it’s great news whether it’s direct competition. Vechain has a lot of skin a game more partnerships they’ve been out there a lot of government contacts with Vechain and so on.
It goes down to many of the approved projects where big-name brands in China for example Walmart China which is great. Vechain already working with Walmart China had its blockchain concept to prove intended for food safety and it also talks about beta JD. JD is like the e-commerce park for Walmart Alibaba. If you recall in my last video, there’s gonna be news coming from David Banderas and he did have ALI pay on there.
I think China Mobile and China Merchants bank if you put two together maybe this is gonna be some big news that’s coming up for Vechain maybe a lot of these people like I mentioned they’re not building their own blockchain technology because that’s just and a whole new infrastructure and set of rules and tons of development work that you need to do. Maybe it’s easier just to white label go on Vechain exactly like what a lot of other companies are doing. When they do consult out there the rebrand, they really able it to something else similar to like DNV GL. They call it my story right but the customer really doesn’t know it’s VTHO gas, Vechain Technology they know it’s powered by Vechain. What they’re buying is a mystory App for trust certification and approvals rate authenticity. I think this is great news.
The blockchain ecosystem in China is growing and this is the main thing that the president wants is they want to be the leaders back in North America when the US and Canada everyone is familiar with eBay eCommerce China was a little bit slow on that cutting edge and not that they were being ridiculed but they got all these platforms.
We’re in the early stages of Blockchain technology and I think this is good because like I said before, I don’t even care if North America doesn’t even grasp this technology first because China is so big. The people who sit on that board as I mentioned already working with Vechain. That is on the National Blockchain committee.
I pulled out an article from Vechain insider. If you wanted to see the list of partnerships you can see in Tencent. Basically, Tencent and Vechain and all of these other companies like Microsoft, Apple, IBM, Huawei they’re all working on the China National level partnership. So these have this partnership to build the GuIan new technology area. So that’s gonna be that development zone to have. It was mandated for the Chinese central government to have. This is an exciting time for China and this announcement when they’re gonna enable this whole new province of GuIan. Complete harbors and blockchain with big data and cloud computing. That’s gonna be great news to come in and it even shows in this article. It says Vechain is mandated to be the blockchain technology partner of the government to plan. Tencent is also working on this project.
All of these companies that are coming on to the approval they’re not building their own blockchain technology. They could be using hopping onto the blockchain technology whether it’s for payment system etc. Like I mentioned if you look at these companies, they could be competitors of Walmart that want to start offering or having their products on the blockchain technology. As I mentioned, it might not be a direct competition with Vechain but they might want to be putting their value-added services on a blockchain platform.
Vechain News today China Adds 224 more blockchain projects!
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