VeChain, a Respected Entity, Joins INATBA’s AI & Blockchain Task Force to Foster Trust in the Future

VeChain (VET) has been selected as one of the prominent organizations and institutions to participate in a task force focused on integrating AI and blockchain technologies. The task force aims to address the challenges associated with the convergence of AI and blockchain, while exploring the vast opportunities it presents. VeChain joins a group of over 10 esteemed organizations in this 11-month program, which runs from February to December 2024. The participants include AML Incubator, Caisse de Dépôts, European Commission, Fraunhofer Society, Fujitsu, HTW Berlin (University of Applied Sciences), Kunfud, Lexia Avvocati, Quinnipiac School of Business, Republic of Slovenia Ministry of Economic Development and Technology, thebrainbehind [tbb\*], thinkBLOCKtank, United Nations Joint Staff Pension Fund, Universidad Rey Juan Carlos, Universita Di Pavia, Cheqd, University of West Attica, Validvent, Vechain, and World Trade Organization.
The task force’s agenda includes developing a comprehensive report, formulating a position statement, creating strategies and policy recommendations, showcasing real-world use cases that demonstrate AI and blockchain integration, and hosting webinars and events. These efforts aim to enhance integration, strengthen security, and advocate for the ethical implementation of these technologies. The task force is positioned to navigate the complex landscape of AI and blockchain convergence, championing understanding, ethical standards, and visionary innovation.
It is worth noting that the International Association for Trusted Blockchain Applications (INATBA), which launched in 2019 under the European Commission, is spearheading the task force. INATBA plays a vital role in promoting the adoption of blockchain and distributed ledger technology (DLT) in Europe, contributing to regulatory frameworks and policy-making initiatives.
Following the announcement, the price of VET has experienced a 3.6% increase, trading at $0.048971 at the time of writing. Market conditions appear to be balanced, with both bulls and bears exerting influence. Notably, crypto analyst Egrag Crypto predicts significant gains for VET, suggesting the possibility of a 40X or 50X increase in value. The analyst draws comparisons to VET’s impressive 5,892% surge in 2019, speculating that the asset could reach $0.9 if history repeats itself. Additionally, Egrag Crypto highlights the potential for a 140X surge if VET replicates its 2021 performance, which saw a price increase of 14,638%.
In summary, VeChain’s inclusion in the AI & Blockchain Convergences Task Force highlights its recognition within the industry, as well as its commitment to advancing the integration of AI and blockchain technologies. The collaborative efforts and strategic initiatives of the task force aim to drive innovation, enhance security, and promote ethical standards in this rapidly evolving field.