Vechains Patent 67 Revolutionizes Carbon Trading with Blockchain Can VET Price Soar

VeChain achieves 67th patent milestone, transforming carbon trading with blockchain technology.
The latest patent could have a substantial impact on VET’s market value.
VeChain has unveiled a groundbreaking patent for its carbon trading technology, marking a significant achievement as its 67th patent and reinforcing its position as a leader in blockchain innovation. Renowned blockchain expert Collin Brown hailed this milestone, emphasizing the importance of VeChain’s pioneering carbon trading technology.
This significant development was shared by Collin in a recent tweet, highlighting VeChain’s continuous innovation through its 67 patents, solidifying its reputation as a frontrunner in blockchain technology.
VeChain has just secured a revolutionary patent for carbon trading technology! This pushes #VeChain’s total patents to 67, showcasing its #blockchain innovation.
The patent encompasses the collection of ID and carbon behavior data from transportation devices, which is then converted into carbon emission reduction equivalents through smart contracts.
The VeChain Global Technology SARL’s patent introduces three key innovations as outlined in the Justia Patents Dockets:
Innovative Method and System: A sophisticated approach to carbon trading involving the acquisition and processing of carbon behavior and ID data from transportation devices to assess their carbon consumption or emission reduction actions.
Smart Contract Utilization: The conversion of acquired data into carbon emission reduction equivalents using smart contracts to ensure accuracy and compliance with set criteria.
Blockchain Integration: Secure storage and management of carbon emission reduction equivalents on a blockchain platform to enhance data integrity, authenticity, and streamline the carbon trading process.
This patented technology revolutionizes carbon trading by leveraging blockchain for transparency and reliability, utilizing data from transportation devices to calculate carbon emission reduction equivalents through smart contracts, and securely storing them on a blockchain.
Will VET’s price surge?
As predicted in CNF’s report “VeChain’s Stellar 2024 Prospects,” top analysts anticipate VET’s price to reach $1.14 by October. Currently trading at $0.03032, VeChain (VET) has seen a 3.66% drop in the past day and a 10.48% decrease in the past week.
With the new patent potentially driving positive market sentiment, there is optimism for a significant increase in VET’s price. See the price chart below.
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