The Largest Auto Manufacturer in China Partners with Vechain - Vechain (VET) News
Important Vechain Cryptocurrency News
BYD Partners with Vechain in Automotive Industry
BYD the largest auto manufacturer in China is partnering with Vechain to introduce blockchain in the Chinese auto giant’s manufacturing line. The plan to integrate blockchain powered solution into BYD product line was announced by Sunny Lu, the Vechain co-founder during the Worldwide Developer’s Conference on last week.
The two entities have been partnering at proof of concept level which will lead to introduction of some concepts developed through the partnership in 500,000 vehicles manufactured by BYD.
BYD is the global leader in the production of electric vehicles and the biggest auto manufacturer in China. The company is also a leader in manufacture of power storage batteries. It is estimated that 50 percent of phone batteries are manufactured by the company.
The cooperation with Vechain will enable BYD track vehicular performance and reward machine owners with credits for low carbon emission.
Vechain Still with Good Prospects in A Generally Bearish Market
Vechain is trading at $0.014 losing 5.13 percent in the past 24 hours. However despite the coin market’s bearish tendency, Vechain is among the relatively stable coins even though it lost 4.82 percent against BTC. However Vechain can still be classified among the coins that have seen consistency not in terms of sustained appreciation by some really some bursts of exponential spikes.
The coin is currently ranked number 20 down by one step from 19. The coin has had good support and great potentials owing to the team commitment that led to the Binance announcement that it will support.
Before the token swap, the old VEN coin has plunged from its all time high of more than $7 in January to $1.66 on August, the coin has been one of those showing promise in adverse market conditions. Working with past data, Vechain has been predicted to increase significantly by the end of the year, although the bull market expected to bring it to that value is yet to kick in.
VET/USD Price Chart, Tuesday September 11th:
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