VeChain Thor (VET), previously known as VeChain (VEN), now rebranded to VET, entered a “new era” with the launching of the mainnet that at the same time brought VeChain Thor to the stage.
As VeChain Thor is one of the cryptocurrencies following the trend of launching their own mainnet, that way seeking for independence, VeChain Thor had also had an airdrop of VET scheduled one month later since the date of the mainnet launch, on August 1st.
That is how a new life of VeChain started, now having its market capitalization going over 715 million dollars, also bringing some new updates to the network as well as new achievements to the team and the now rebranded VET community.
Here is what VeChain Thor has accomplished by far after the official launch of the mainnet.
VeChain Thor Partners BYD
At the beginning of September, only a bit over a month later since the initial airdrop of VET tokens, VeChain Thor foundation became partners with BYD.
BYD is one of the biggest Chinese companies in the area of electric car manufacturing, while this Chinese company is also holding the record as the world’s best selling plug-in manufacturer for Electric cars.
The original plan of the BYD Company is to launch a carbon emission imbalance solution through designing a baking model for carbon that would be applied to their cars.
The product will be backed up with the blockchain technology where VeChain partnership comes under the spotlight. That is how BYD will be using VeChain Thor ledger technology in order to establish a simple blockchain-driven lifecycle management for cars.
The system is said to be applicable on every area of the automotive industry, while it also showcases a handy use case of VeChain Thor ledger.
VeChain Thor Partners People’s Insurance Company of China (PICC)
September brought another significant partnership to VeChain Thor, once again having the blockchain foundation partnering a Chinese company. This time, VeChain Thor partnered with an insurance company called People’s Insurance Company of China (PIC) with the purpose of helping the company digitalize the insurance industry.
PICC is aiming at making auditing, data collection, as well as the general data management, which is extensive and not enough efficient in the insurance industry, more functional and thus proficient.
They believe that blockchain technology can solve these problems, so they have partnered the 19th largest currency VeChain Thor and DNV GL in order to transform and digitalize the insurance company.
This way, VeChain is getting another use case while expanding to the industry of insurance.
VeChain Launches OceanEx as the First Token on Its Mainnet
VeChain Thor similarly to Ethereum network provides an ecosystem for Dapp creation, but it also brings Blockchain-as-a-Service to companies across different industries. Also, much like Ethereum network, VeChain Thor enabled support for token issuance, officially becoming home of OceanEx (OCE) on August 20th.
With the announced support, VeChain Thor is able to showcase its potential as a public ledger that provides support for ICOs and promotes blockchain as a service for different industries, also having another use case as a hosting platform.
VeChain and the NFC and RFID Chips for Easy Management and Traceability
Besides from advocating for Blockchain-as-a-Service while entering different industries with real-life use cases and applications, VeChain Thor also has a working product in form of NFC and RFID chips.
These are highly applicable on all sorts of products, allowing for an easy traceability and management of a wide variety of products. That means that the blockchain technology has found its way through VeChain Thor even in the clothing industry as well as the general manufacturing industry through these chips, providing another use case for VeChain Thor.
VeChain Thor Gets a HitBTC Listing
Listings, as well as partnerships, can often draw attention to the listed currencies, as well as provide more momentum in the market.
At the beginning of October, although now barely going up against the fiat on October 2nd, VeChain Thor got listed on HitBTC exchange.
Additionally, at the time of the listing, VET jumped from 0.012$ to 0.013$, however it soon declined back to 0.012$ which is at the same time its current value.
VeChain Thor was seen at its peak after the rebranding at the beginning of September when the currency traded at the price of 0.019$, but for over a month now VET is struggling with breaking the resistance of 0.013$.