VeChain Aims To Take Web3 By Storm, Here’s How

Ronaldo Marquez

Last Updated: February 2, 2023 8:10 pm

2 mins read

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The crypto industry has seen a lot of hype at the beginning of 2023, and the VeChain Foundation is trying to keep up. The sector is attracting attention around non-fungible tokens (NFTs), the Metaverse, Web3, and, more recently, artificial intelligence.

The VeChain Foundation has announced the “Spiritual Rebirth” launch of the 2019 VeChain Summit, introducing The Hive to achieve goals that “create tangible economic value with blockchain technology.”

The Foundation claims that it has been “invigorated” by a stream of positive developments and opportunities for the growth of its community. In an official post, the non-profit organization suggests that the VeChainThor blockchain is ready to “take center stage of the upcoming digital-sustainable web3 revolution.”

The Web3 Revolution And The Blockchain VeChainThor

The Hive aims to “foster collaboration across the web3 community” and to act as an “inclusive beacon” for sustainability, focusing on developments for the blockchain ecosystem.

The new event will take place on March 4, 2022, in Las Vegas, according to the VeChain Foundation. During the event, the Foundation promised to make new announcements of consequence for the blockchain VeChainThor and the launch of a new whitepaper to take their global concept on digital ecosystems to the worldwide market.

With the economic difficulties of the past and the recent announcement by the U.S. Federal Reserve (FED), VeChain remains optimistic for further regulatory clarity to unfold around the crypto industry. This gives VeChain and its foundation a panoramic view of an exciting new phase for blockchain.

The Foundation anticipates a “productivity plateau” in 2023. It is confident that the blockchain VeChainThor will become a leading platform in the coming years as adoption accelerates exponentially in line with the Layer 1 smart contract platform.

VeChain On A Path To Sustainability?

Another of the Foundation’s critical elements for 2023 is the continued development of the “digital ecosystem” concept, which the Foundation claims represents an “evolutionary leap” in connectivity, information sharing, and collaboration through the power of the blockchain VeChainThor.

According to the Foundation, in this new era, blockchain technology provides benefits in exchange for the “consensual provision of user data that contributes to a greater good, such as sustainability.”

VET’s digital ecosystem concept represents a milestone in achieving the United Nations Sustainable Development Goals (UNSDGs), which have a deadline of 2030. VeChain aims to:

(…) We look forward to unveiling more about digital ecosystems in our upcoming whitepaper, due by the end Q1. Join us as we kick off this incredible new epoch for sustainability, powered by real-world blockchain applications on the mighty VeChainThor.

VeChain trends to the upside after a long consolidation period on the daily chart. Source: VET/USDT TradingView

From this February 2nd the Foundation will be launching The Hive’s landing and registration pages. On March 4 in Las Vegas, the event features VeChain-specific content and applications of web3 technologies from other projects and protocols.

Cover image from Unsplash. Chart from Tradingview.

Ronaldo Marquez

Ronaldo is an experienced crypto enthusiast dedicated to the nascent and ever-evolving industry. With over five years of extensive research and unwavering dedication, he has cultivated a profound interest in the world of cryptocurrencies.

Ronaldo's journey began with a spark of curiosity, which soon transformed into a deep passion for understanding the intricacies of this groundbreaking technology.

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