How This VeChain Tool Will Aid Enterprises To Reduce Carbon Emissions

Reynaldo Marquez

Last Updated: August 26, 2021 6:19 pm

2 mins read

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The VeChain Foundation recently revealed a new tool that will be used to speed and improve efforts to reduce carbon emissions. This has become a major challenge in China, as the Asian giant prioritizes the reduction of its atmospheric pollution to 0 in the next decades.

Called Digital Carbon Footprint SaaS Service, this VeChain-based tool is designed to help companies to change their carbon footprint by improving their data management practices, according to an official post.

The Foundation claims that their new tool has combined decentralized ledger technology with a SaaS (Software as a Service) business model. This is how carbon emissions data reported by companies is legitimized and verified.

Thus, VeChain and its tool help remove the trust issue in this important area, increase transparency, and improve the collection of data for a supply chain. Later, the data can be used by enterprises to track down the sector on the supply chain that needs to performed better to offset carbon emissions.

VeChain’s Digital Carbon Footprint SaaS Service allows enterprise users to log key data and integrate it with world-leading third party assurance providers within VeChain’s partnership network.

The VeChain Foundation claims that carbon emissions and responsible corporate social decisions have become a “massive global focus”. This has been increased by the COVID-19 pandemic.

Therefore, consumers need tools that provide reliable information about these key items. Thus, their solution, the VeChain ecosystem, companies, and their reputation, and ecofriendly practices, all benefit from this technology. The Foundation stated:

VeChain’s services provide an opportunity for businesses to amplify transparency and dramatically change the way consumers view carbon labelling. By leveraging VeChain’s intuitive Digital Carbon Footprint SaaS platform.

VeChain (VET) On A 50% Monthly Rally, Next Potential Price Target

In the coming decades, as China and the entire world try to migrate to more sustainable economies, VeChain and its solution could gain more importance. Decision-making, as the Foundation said, at a national and corporate level is becoming more “data-driven”.

Therefore, scalable platforms, such as the Digital Carbon Footprint SaaS Service, could be a must for any company to carry on operating in a world that demands more transparency, and more social awareness.

Over the past months, VeChain has consolidated and launched several solutions and partnerships. As NewsBTC reported, their collaboration with the Republic Of San Marino to provide COVID-19 vaccination certificates secure by blockchain VeChainThor.

Its native token VET seems to have positively reacted to these events, as it records a 52% profit in the 30-day chart and 6.7% profit over the past two weeks.

At the time of writing, VET trades at $0.11 after a retracement following the general sentiment in the market.

As pseudonym trader VeChain Justin showed in the chart below, VET must reclaim the green area around $0.12 to reclaim support and have a chance at further appreciation. More downside could lead the token back below the $0,10 levels.

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

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