VeChain Weekly Update June 13th

It was an exciting week for the VeChain community that saw the price of VET skyrocket over 1 cent for the first time since 2019. The mainnet maintained its busier than usual approach with an average of 103k data clauses per day over the 7 day period. A slew of announcements, news, and positivity has pushed June off to a very positive start.

Weekly chart courtesy of LunarCRUSH

German Federal Office for IT Security Compliments VeChain

In a study published by Germany’s Federal Office for Information Security (BSI), VeChain is recognized among 300 blockchains for its intelligent supply chain management. The study aimed to examine and evaluate the security of 300 blockchains as part of a market analysis.

Source: Crypto News Flash

The full study in German can be read here.

VeChain announces their second official video contest

Submissions between June 8th 2020, 22:00 and June 30th 2020 will be eligible for up to 1 million VET in prizes. Click here for more details.

DNV GL holds event with Marsh on hotel infection management

The community will be keen to follow developments surrounding DNV GL’s new My Care business infection management certification service. We featured an article on the topic earlier this week, looking at how high-risk businesses in the hospitality industry would respond in the wake of COVID-19. Being able to build trust through third-party inspection and auditing services is an important step, and DNV GL can provide these services with public visibility by writing auditing and testing results on the blockchain. Already, at least three major hotels in China have been certified. While nothing is confirmed regarding DNV GL’s co-host and partner Marsh, it’s worth pointing out that they are a global leader in insurance and risk management, and will be an interesting company to keep an eye on.

Norway in a Box take part in livestream for Oceans Day

VeChain and DNV GL partner Norway in a Box talked about how they use blockchain to improve their supply chain processes and contribute to a cleaner ocean. The livestream reached a wide audience and was covered by many major Chinese media platforms. VeChain project manager Tang Min was there to give a presentation on VeChain’s marine traceability products.

Coinbase teases potential VET listing

The USA’s largest exchange by volume announced that they were looking to add a range of new assets to their trading platform. This is often seen as a major obstacle to adoption, as most North American cryptocurrency users start by linking their accounts to Coinbase.

We will continue to evaluate prospective assets against our Digital Asset Framework to assess factors like security, compliance, and the project’s alignment with our mission of creating an open financial system for the world. To apply for listing, fill out an application here.

Today we’re announcing that we are exploring the addition of a range of new assets. As part of the exploratory process customers may see public-facing APIs and other signs that we are conducting engineering work to potentially support these assets.

Source: Coinbase

VeChain CEO Sunny Lu to speak with DNV GL’s Renato Grottola and Deloitte’s Antonio Senatore at World Artificial Intelligence Conference (WAIC) on July 10th

Arguably the biggest news of the week, the WAIC is a major event on the China technology scene. This is the first year that blockchain will be included in the multi-day summit, that will take place in a hybrid online & offline format. The event is hosted by a group of government agencies including the Shanghai Municipal Commission of Economics and Information Technology alongside strategic partners like Microsoft, AWS, China Mobile, and ICBC. The signs are still there that China is pushing forward with their mission to take a global lead in technologies like AI, Big Data, and of course blockchain.

Shanghai TECOM Conference 2020

COO Kevin Feng will attend the TECOM Conference on June 20th to cultivate a more innovative startup ecosystem in Shanghai. Other participants will include startups, incubators, and representatives of corporate innovation departments.

Vulcan Forged gives a first look at new dApps

Community NFT and gaming incubator Vulcan Forged announced 10 NFT dApps coming to VeChain’s mainnet in 2020. The first one, a simple game that involves burning VTHO to send a rocket to the moon in exchange for potential NFT prizes was shown off on Twitter.

VeChain’s Chief Scientist Peter Zhou hosts Bootcamp with Senior Research Scientist Ren Zhijie

The two PhD holders broke down Proof of Authority and the new VeChain consensus algorithm currently being developed. VeChain101 will post a complete recap soon, so stay tuned for that.