VeChain expands its status in food security & waste management
VeChain recently tweeted about being featured in another academic paper. The network was showcased as a prime example of blockchain use cases.
The network has made significant progress in the domains of food security and waste management and has published a scholarly article titled “A Framework for Blockchain and IoT Integration in Improving Food Security in the Food Supply Chain.”
A mere mention in the academic paper has boosted the popularity of VeChain and, consequently, its native token. VET crypto price prediction has become a popular topic of discussion among traders looking to make a profit via crypto trading.
As for the academic paper, it started by explaining the importance of food security in the current market. It also delved into the background of the industry regarding Supply Chain Management, Food Supply Chain, and their relative issues.
The document also discusses how blockchain deployment can benefit Supply Chain Management systems. Sunny Lu’s VeChain was recognized as a prime example of blockchain-assisted SCMs.
The network has provided support in the fields of pharmaceuticals, luxury goods, logistics, and agriculture. It has deployed smart contracts to track inventories for better recording. VeChain is also leveraging smart contracts to tokenize products and track every step of the process.
The network is also using smart contracts to establish a safe method for storing and transferring goods. This has facilitated global communication among transporters and cargo merchants.
One of VeChain’s most popular affiliations in the agri-food industry is with Walmart. The network is helping the global food chain digitize its food supply chain. It monitors more than 25 product lines, such as meat, processed, and dairy.
The World Wildlife Foundation is also using a smartphone application that scans tuna packaging to disclose its product history.
As blockchain usage in food and supply management continues to gain popularity, VeChain is poised to become the support pillar for more networks.