VeChain to revolutionize the carbon footprint of the $200 billion market

  • A speech at the summit highlighted VeChain’s SaaS solutions to enable companies to tweak their carbon footprint management practices.
  • This year’s Wanxiang Blockchain Summit focused on digital transformation, Web3, and carbon neutrality.

Shanghai International Blockchain Week 2022 was held from September 16 to 28 in the Hongkou District of Shanghai. The first three days were at the 2022 Wanxiang Blockchain Hackathon. During the event, she analyzed 8 global carbon market cases and how VeChain technology can help improve carbon management practices.

Professor at Sen Yu University of Social Sciences in Singapore, Lee Guoquan, presented a detailed analysis of the features of new information technologies, particularly blockchain and artificial intelligence. He also explained how technological development in Singapore and the world at large can contribute to excellent and sustainable global development through practical use cases. Singapore is already implementing these use cases under its “two carbon” goal.

Carbon Management Platform of VeChain

The fourth case highlighted the importance of the VeChain SaaS platform for validating carbon data. Professor Guoquan explained that VeChain’s digital carbon footprint SaaS platform can help companies improve their carbon footprint data management practices regardless of size. VeChain has been in the news since last week for various positive reasons.

Two days ago, it announced its expansion in Europe by establishing two new facilities in this region. Blockchain also announced that it will hire at least 100 new developers in its new European office. It is possible that the good news surrounding the VeChain network is responsible for the increase in the price of the network’s original token (VET). Current data shows that VET is up 7.80 percent in the last 24 hours and is trading at $0.0233.

In addition, the eminent academic also mentioned another platform in its fifth state (Wancarbon’s Rubik Cube blockchain platform). The platform is a combination of different technologies as one tool. These technologies include the Internet of Things, Security Cloud, blockchain, and knowledge map.

The Blockchain Cube tool from Wancarbon Rubik helps companies monitor the lifecycle carbon footprint of their products. The tool also allows buildings and parts to track their carbon emissions and analyze and monitor their carbon assets.

The 8th Global Blockchain Summit

Aside from the grand opening, the summit had a host of themed forums, with each session lasting up to 3 hours. All the speakers spoke about common issues in the blockchain and crypto space. They have covered topics related to Layer2, DAO, Web3, privacy preservation, carbon neutrality, the Internet of Things, the metaverse, and data security.

Over 70 industry players, including scholars, thought leaders and experts attended to discuss the most important issues that have revolutionized the way we work and live, especially in the long term. They also recommend solutions to some of these burning issues.

Wanxiang Blockchain Labs has been hosting the Global Blockchain Summit every fall for the past seven years. The event has become one of the most popular in Asia. Blockchain experts and enthusiasts gather at this event annually to discuss current trends, burning issues, and opportunities in the blockchain space.

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