Yesterday, Alibaba made history in its 24-hour global shopping festival sales. The company did sales of over $30 billion in 24-hours. The company achieved this partly due to its ability to leverage on technology to create a seamless flow of value across the board. The company is heavily invested in technologies such as artificial intelligence, IoT and blockchain technology.
For instance, the company has leveraged blockchain technology to track goods through its supply chain and improve the overall user experience. It goes to show that there is value in blockchain technology. For blockchain projects that offer value similar to what Alibaba is getting from blockchain, it is a welcome validation that the tech is good, and is ripe for large-scale adoption.
A blockchain like Vechain stands out in this respect. Vechain is a blockchain solution that offers a similar value proposition to what Alibaba is getting from its usage of blockchain technology. One of the solutions that Vechain offers for its enterprise clients is cold-chain logistics. Through this solution, Vechain allows businesses to track key metrics throughout the supply chain. This way, organizations can avoid the wastage, loss and all other inefficiencies that most businesses experience in the supply chain, which ultimately lead to increased costs and lower profitability. Considering that most business will be looking to emulate Alibaba in a bid to replicate its successes, blockchain platforms that have similar value offerings could draw in lots of demand, and Vechain stands out on this front.
The best part is that Vechain is well prepared for such a high level of adoption. That’s because it has already been adopted in the market and has working partnerships with major corporations all around the world. The tech has also been tested and proven to be good as was seen in the strong showing of Vechain, during the LVMH innovation awards some months back. This makes it easy for corporations to integrate it into their systems on the strength that it has a vote of confidence, at the highest levels of the corporate world.
On top of that, the Vechain (VET) is very good at marketing, something that is critical to its long-term adoption. For instance, through meetups and other events, Vechain has positioned itself well for growth in the Asian market, especially in China. Through strong marketing and a value proposition that is getting validated with the success of blockchain at companies like Alibaba, the value of this crypto could grow exponentially in the long-run.
In essence, Vechain (VET) is highly undervalued at current prices. This crypto has been beaten up by the 2018 bear run. However, with its value proposition and a growing use case, Vechain could emerge as one of the top gainers the moment bulls take back the market. Its value is not just speculative, there is a real use-value for this blockchain. It would not be surprising if Vechain (VET) hits $1 in 2019. All it will take will be the adoption of this blockchain by a few major corporations and the rest will follow.