The Vechain VET price up 20% following a partnership announcement for VeChain ToolChain in China

The Vechain VET price up 20% following a partnership announcement for VeChain ToolChain in China

The Vechain VET price up 20% following a partnership announcement for VeChain ToolChain in China.

A VET token price that has been rising since the end of October 2019.

vechain token price up 20%

An announcement where Vechain said:

Mr. Qian Chengcheng, CBO at VeChain, said:

“VeChain, as the leading business-friendly public blockchain platform, is committed to energizing the real economy and unlocking untapped business value through reliable blockchain technology.
The Yunnan Pu’er tea traceability platform has a significant impact on the massive blockchain adoption in the tea industry in Yunnan Province and on its domestic market.
In addition, this use case can be used as a reference for other quality regional agricultural products such as Yangcheng-Lake crab and Wuchang rice.”

Blockchain technology can fight counterfeit even for products such as tea and especially in China where it is a product of daily consumption and extremely appreciated by the Chinese and Asian people as a whole.

Vechain notably has WaltonChain as a competitor in its blockchain business.

Cryptocurrency prices are very sensitive to news as we have seen for the Verge XVG price which went up 40% following the news about Paypal not allowing payments on Pornhub anymore.

A nice price increase for the Vechain VET price, with this 20% increase following this Yunnan Pu’er tea traceability announcement with the VeChain ToolChain blockchain solution.

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