Collin Brown, a renowned blockchain researcher, recently tweeted that VeChain is poised to lead the $18 trillion logistics market with its innovative blockchain solutions.
Brown highlighted VeChain’s use of blockchain technology, smart contracts, and the Internet of Things (IoT) to ensure transparency, authenticity, and compliance within the supply chain. He cited several examples of VeChain’s success stories in the logistics market, including its partnerships with Walmart, BMW, DNV GL, and PwC.
🚀 VeChain Leads the Way in $18.23 Trillion Logistics Market 🌐✨
With a market poised to reach $18.23 trillion by 2030, #VeChain is at the forefront of logistics innovation. Utilizing blockchain, smart contracts, and IoT, VeChain ensures transparency, authenticity, and… pic.twitter.com/7G33xtX9PP
— Collin Brown (@CollinBrownXRP) October 13, 2023
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Precedence Research Report Underscores Potential of Logistics Market
A recent report by Precedence Research, a reputable strategic market insights firm, underscores the potential of the logistics market.
The report projects that the global logistics market, which was valued at $7.98 trillion in 2022, is expected to reach a staggering $18.23 trillion by 2030, with a compound annual growth rate (CAGR) of 10.7% from 2023 to 2030.
VeChain’s Journey to Becoming a Public Blockchain
VeChain premiered in 2015 as a private consortium blockchain, collaborating with numerous enterprises to explore the potential applications of blockchain technology.
However, in 2017, VeChain embarked on a journey towards becoming a public blockchain, issuing the Ethereum-based token VEN. The transition culminated in the launch of VeChain’s mainnet in 2018, accompanied by a new ticker symbol, VET.
VeChain’s Dual Token System
VeChain’s platform operates with two tokens, VET and VTHO. VET is the native token of the VeChainThor public blockchain and serves as a store of value and unit of account. VTHO is a utility token used to pay transaction fees and smart contract execution on the VeChainThor blockchain.
Read Also: Coinbase Adds VeChain (VET) and VeThor (VTHO) to its Roadmap, Listing Likely Underway
Unique Perspective on VeChain’s Potential
While Brown’s prediction that VeChain will lead the $18 trillion logistics market is bold, it is worth noting that the company has already made significant strides in the industry. VeChain’s blockchain solutions are being used by leading companies to improve supply chain efficiency, transparency, and traceability.
As the global logistics market continues to grow and mature, VeChain is well-positioned to capitalize on the increasing demand for blockchain-based solutions. The company’s dual token system and its focus on innovation make it a formidable contender in the logistics space.
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