VeChain went through a complete rebranding with the launching of the mainnet a couple of months ago, changing its image to VeChain Thor (VET), previously known in the blockchain space as VeChain (VEN).
Back on June 30th VeChain officially released its mainnet in what may seem like a growing trend among cryptocurrencies, as many crypto assets completed some of the most important milestones in form of seeking for independence through several memorable mainnet launches.
Although VeChain was seen spiking up against the fiat nearly two weeks ago on October 3rd, we can now see it merely climbing up against the fiat although the majority of currencies, especially the top 20 list is going through a serious surge.
Even Ethereum (ETH) that went under the price of 200$ while dealing at 196$ went back up with the latest increase, now being traded at 209$ per one ETH. Even though VeChain might not be doing that well during the latest mass rebound going up by barely over 1.30% against the fiat, here are some partnerships from the list of VET that might help it during the last months of Q4.
Yida China Holdings Limited and VeChain Thor Partnership
VeChain is somewhat a magnum of business processes in the blockchain space, which is why VET might be one of the currencies with the greatest number of use cases and a fantastic way of taking the best out of Internet of Things.
Another thing that makes it interesting is the fact that VET has somewhat acquired a certain dose of a well-established stability as you may notice on VeChain’s all-time charts that VET does not have radical price oscillations.
However, there is a solid fact that this was not always the case as VET fell by almost 100% since making its all-time high.
Luckily, its ability to match the requirements of industrial applications makes it a desirable partner at companies like Yida China Holdings Limited.
Yida China Holdings is in the real estate industry with signing the deal with VeChain Thor back in February in order to get the needed support from VeChain for different projects related to building smart cities, like energy management, green buildings, and similar.
The fact that YCH Limited makes up for one of the biggest real estate companies in China surely adds to the value of VET.
BitOcean and VeChain Partnership
Although the partnership was signed back at the end of 2017 before the rebranding decision came to reality, one of the partnerships that might help VET progress further in the market is their deal with BitOcean.
BitOcean is actually quite significant for cryptocurrencies in terms of representing a medium for mass adoption of digital assets as the company is working on providing ATM solutions that would allow people across the globe to buy and sell cryptocurrencies via ATMs.
VeChain is one of the currencies supported by this company through this deal so there are actually places in Japan and China where you can purchase VET via ATMs, making it one of the integral mass adoption strategies.
China Unicom and VeChain Partnership
China Unicom is a telecommunication giant, actually representing the fourth largest company in the world within this industry, which makes the deal between the company and VeChain also pretty significant for the general value of VET that shouldn’t be reflected solely in its price in the market.
The objective of this partnership is to help increase the general efficiency of the company’s supply chain management, which is basically what VeChain does the best. By using Blockchain as a Service, VeChain has a clear plan on how to provide the maximum level of efficiency for China Unicom, once again showing its industrial potential.
BMW and VeChain Partnership
Although this deal isn’t a unique case in the blockchain industry as IOTA is already being utilized for Tangle technology by BMW group, VeChain also partnered car manufacturing giant for developing a blockchain-based solution that would enable data storing vehicles.
Although VeChain has lost 99% of its values since reaching its record price, VET is still acquiring rises on October 13th, also showing 56% of growth during the course of the last two months.