VeChain reveals blockchain vaccine tracing solution for China
Another achievement worth mentioning is that VeChain announced a vaccine blockchain tracing solution for China, as reported by Nasdaq.
“The Chinese government has spent the past several weeks scrambling to respond to a vaccine safety crisis. Now, at least one government agency has turned to blockchain technology and the IoT for a solution, according to enterprise blockchain provider VeChain,” Nasdaq writes.
This is extremely important because it can resolve the crisis that erupted for the Chinese government in China back in July when it was revealed that thousands of children received faulty vaccines that have been manufactured by a Chinese drug company.
This is the third major drug safety crisis that made headlines in the country in the past ten years.
In a blog post that was published earlier this month, VeChain revealed that it had been “tasked to achieve” a blockchain-based solution for recording data related to vaccine production in China.
You can read the complete announcement and details here.
These are impressive achievements of VeChain, and both of them might have led to such a surge in price for VET.