VeChain Foundation Meets With China’s Government Officials: Report

The VeChain Foundation meets with China’s Government officials but many in the industry wondered why after the tweets emerged as we can see more in our latest VeChain news today.

The VeChain foundation confirmed that they will be meeting with government officials from china from three different districts. The representatives from Shanghai, Changing, and Huangpu visited the office in Singapore and the reports show that VeChain Foundation meets with the representatives due to potential transformative collaborations. The organization claimed to be ready to help all sectors from private companies to governments.

Another report published by the Chinese website ChainNews stated that the Deputy Director for the Changing District Pan Min praised the technology VeChain has and the business development. The meeting was attended by the Chief Scientists of Vechain Technology Ziheng Zhou, Bing Wang who is the Director of Human Resources, the executive assistant to the CEO Diyun Gong, and the Director of Marketing and Public Relationship Yiyun Zia.

From the public sector, the meeting was attained by the members of Commerce, Construction, Science and Technology as well as other government officials. They were tasked with explaining the use cases as well as the busienss models and how Vechain will make a difference in the corporate sector while in the meeting, the participants also discussed how VeChain’s products helped to offset the impact of the COVID-19 pandemic and the platform’s potential to bring more incentives to drive a low-carbon emission ecosystem.

The platform saw a huge boom in China according to the reports by the state-backed TV Station Shanghai Media Group with the news channel making reports on the role in a 5-year national plan to develop the blockchain capabilities. Right after the crash on the market some of the altcoins were available at a discount as the investors said. Nasdaq’s report titled “7 Low-cost altcoins that still have solid potential in 2021” listed Bitcoin, Cardano, Ethereum, and VeChain.

VeChain is a permissioned blockchain platform that is based on the Ethereum blockchain and was developed by the Chinese Baas company BitSe based in Shanghai founded by former IBM managers as well as managers from Alibaba and Louis Vitton. The developers of Vechaim aimed at eliminating the threat of the market of counterfeit goods due to the smart contract possibilities and blockchain technology.