• The VeChain ecosystem intends to solve significant problems experienced in scaling global industrial sectors through blockchain technology.
• The VeCarbon has built-in 24 industry greenhouse gas emission accounting standards and ISO14064 templates from the National Development and Reform Commission.

The VeChain (VET) network has received a crucial operation certificate from CTI Testing and Certification Group Co., Ltd on its

VeCarbon carbon management system, which Shanghai Tanlian Technology Co., Ltd independently developed. According to the announcement, VeChain’s carbon management SaaS system received a go-ahead certification from CTI – a globally trusted and designated certification body.

As such, VeChain is poised for mainstream adoption. Furthermore, the VET ecosystem has proved to be a crucial network for IoT at a global scale.

“VeCarbon carbon management system meets the needs of carbon emission calculation, management and assessment in power generation, chemical, cement, steel, machinery, electronics, food, public buildings and other industries in terms of method compliance, result accuracy and functional completeness,” VeCarbon noted.

The VeChain ecosystem intends to solve significant problems experienced in scaling global industrial sectors through blockchain technology. Moreover, the VeCarbon carbon management system is well poised to be adopted by worldwide industries utilising technology to scale through a clean environment.

Notably, VeCarbon has built-in 24 industry greenhouse gas emission accounting standards and ISO14064 templates from the National Development and Reform Commission.

VeChain and the Market Outlook

Having begun in 2015, VeChain has developed into a billion-dollar industry with a market cap of approximately $1.18 billion on Tuesday. According to our latest crypto price oracles, VET is exchanging at about $0.01637307, 79 per cent down in the past year. With a price increase of approximately 754.9 per cent in the past three years, the crypto asset is well poised for a new ATH in the next few years.

Moreover, real-world utility is expected to play a crucial role in the next crypto bull market, aside from habitual speculation. Notably, VET is ranked 34 by valuation, with the last 24 hours’ trading volume at about $42,794,291.

The VeChain ecosystem works closely with global lawmakers to achieve desired regulatory approvals. Furthermore, the FTX implosion has awakened regulators’ attention to cryptocurrency and blockchain technology. 

With a promise of helping governments regulate other industries through reduced carbon emissions, VeChain has been identified as one of the blockchains that will thrive in the long haul. 

Meanwhile, the cryptocurrency bear market is expected to press harder until Bitcoin price shows signs of a rising trend, particularly in the weekly timeframe. On Tuesday, Bitcoin price was exchanged around $16,800, as strategists anticipate an end-of-year rally.

Nonetheless, as the traditional stock industry continues to show weaknesses in reported earnings across markets, analysts forecast the crypto market will show a similar trend for the better part of the 2023 first half.