The VeChain price leans heavily on the enormous demand for authenticity. We want to make sure that our products are fair. Fair trade, fair prices and no child labour. And if want to buy brand name clothing, we want to make sure that it is genuine. After all, who would want to accidentally buy counterfeit products. That’s what VeChain (VET) does. It is a blockchain with which products can be verified. With the rise of international trade in everything and the Internet of Things, VET should increase in value. Right?
The VeChain price is based on the solutions offered by VeChain and the collaborations they have with strategic partners. The solution offered by VeChain is, among other things, to provide insights into what happens to products during each step of production and transport. This makes it possible for everyone to check whether a product is authentic. The collaborations that VeChain has entered into are very impressive. These include collaborations with:
These partnerships have greatly strengthened the faith of the community in VET, which has certainly done the value of VET a great service.
But there is also a problem. VET has a competitor, Waltonchain, which focuses mainly on cheaper products. Technically they are further than where VeChain currenlty is, but it does not have nearly as many collaborations as VET has at the moment.
The VeChain price itself doesn’t show a lot of spectacle. It has a fairly calm and steady price development. That is how it should be with VET, because this is a technology that will have to be widely used in the future. If this is a success, then the value of VET will undoubtedly show a sudden increase.
What can we expect of VeChain in the future?
At the moment we have to wait and see. Keep an eye on the developments of the many collaborations that VET has entered. When VET will be used in the real world, the demand for these coins immediately increase and then interesting things should happen with the VET value.