VeChain unveils VET 3.0 whitepaper with special focus on…
- Blockchain protocol VeChain, in collaboration with the BCG, issued the whitepaper for VET 3.0
- The 72-page whitepaper includes a detailed roadmap of the VeChain protocol’s focus for the next few years
Blockchain protocol VeChain, in collaboration with the global management firm Boston Consulting Group (BCG), has issued a whitepaper for VET 3.0.
The 72-page whitepaper contains a detailed roadmap of the VeChain protocol’s focus for the next few years, with the main message centred on sustainability. According to the whitepaper, VeChain will create initiatives to provide individuals with the necessary information to participate in the sustainability agenda.
The VeChain protocol, which began in 2015, identifies the environment, social conditions, labour conditions, governance, and business model as primary identifiers of its sustainability needs.
Small individual efforts, such as reducing personal food waste, are expected to multiply throughout the community. Blockchain solutions will be integrated with municipal initiatives to assist people in donating perishable food. According to the whitepaper, VeChain is looking for strategic partnerships in the next few years.
In terms of governance, the VeChain team plans to expand its tech development and business development units. People, Finance, and Legal functions are also being expanded. It is also expanding its engagement team in order to create new sustainable communities.
Towards sustainability in the crypto-space
In an industry criticised for its energy-intensive operations, VeChain claims to be making conscious efforts to drive a sustainability-driven agenda. Because of VET 3.0’s promises and established alliances, the protocol should have plenty of opportunities to fulfil this purpose over the next few years.
The whitepaper also said that VeChain intends to form strategic alliances over the next several years. The protocol also intends to secure lighthouse enterprise partnerships in order to quickly generate awareness and recognition.
However, VeChain is not the only blockchain protocol pursuing a sustainable policy. As a result of Ethereum’s deliberate effort to transition to the proof-of-stake (PoS) system, it is more than 99% more energy efficient than Bitcoin. Other protocols are also continuing to focus on initiatives that aid in the management of their carbon emissions.