Recently, VeChain tweeted that it was mentioned in another scholarly work. The network was presented as a shining illustration of a blockchain application case. The network has released a research paper titled “A Framework for Blockchain and IoT Integration in Improving Food Security in the Food Supply Chain” and has made notable advancements in the fields of waste management and food security.
Just being mentioned in the scholarly article has increased interest in VeChain and, by extension, its native token. The prediction of VET cryptocurrency prices has gained popularity among traders who want to earn from cryptocurrency trading.
The scholarly article began by outlining the significance of food security in the contemporary marketplace. It also explored the industry’s history with reference to supply chain management, the food supply chain, and the problems that are related to each.
The benefits of blockchain adoption for supply chain management systems are also covered in the document. One of the best examples of blockchain-assisted SCMs is Sunny Lu’s VeChain.
The network has offered assistance in the domains of luxury products, agriculture, pharmaceuticals, and logistics. To improve recording, smart contracts have been implemented to track inventories. Smart contracts are another tool that VeChain is using to tokenize things and monitor each stage of the procedure.
Smart contracts are also being used by the network to create a secure mechanism for the transfer and storage of items. This has made it easier for cargo merchants and transporters to communicate globally.
Walmart is one of VeChain’s most well-known partnerships in the agri-food sector. The network is assisting the international food chain in digitising its supply chain for food. It keeps an eye on over 25 product categories, including dairy, processed meat, and beef.
Additionally, the World Wildlife Foundation is disclosing the product history of tuna by scanning its packaging using a smartphone application. With the increasing popularity of blockchain applications in the food and supply management space, VeChain is well-positioned to become the backbone of many more networks.
