Blockchain
Unveiling Vechain’s ‘Web3 For Better’ Sustainability Whitepaper, Co-Developed with Boston Consulting Group
San Marino, San Marino–(Newsfile Corp. – April 3, 2023) – Vechain recently launched its new sustainability-focused whitepaper (summarised here), co-developed with Boston Consulting Group, entitled ‘Web3 For Better’. In it, Vechain outlines a comprehensive vision for achieving sustainable development by building a ‘Blockchain Biosphere’ – a modular series of ‘ecosystems’ consisting of stakeholders, from individuals to enterprises, tackling specific sustainability challenges that utilise ‘nudge economics’ to drive desired outcomes.
Figure 1: Unveiling Vechain’s ‘Web3 For Better’ Sustainability Whitepaper, Co-developed with Boston Consulting Group
Vechain is well known for its commercial blockchain solutions, built for some of the world’s largest enterprises. By partnering with BCG, Vechain will leverage their expertise and reputation in the ESG/sustainability field and tap into a vast client network looking to spearhead a green revolution using blockchain.
Blockchain Biospheres Approach to Sustainability
Vechain’s Blockchain Biosphere is the evolution of earlier concepts such as Vechain’s Carbon Credit DApp where drivers of electric vehicles could upload journey data and have their carbon offset calculated by smart contracts. Vechain later launched an updated version in San Marino following an invitation by the San Marino government to help it become the world’s first carbon neutral country.
By leveraging the transparency and provenance capabilities of blockchain, Vechain’s blockchain biospheres factor in the ‘positive externalities’ of consumer decision-making such as the ethics or sustainability of a good or service. By doing so, Vechain is redefining value by incorporating the idiosyncrasies of individuals often excluded from legacy valuation models. Companies generate better brand stickiness and consumers gain trust in products, helping to create an ecosystem of engagement. Vechain introduces a powerful way to drive sustainable behaviour by creating direct relationships between ecosystem partners who can leverage web3 technologies to offer new ways to engage with their communities.
Powerful Tools Enable the Future of Sustainability
Vechain’s new sustainability ecosystems will be enabled by powerful new tools, such the imminently launched Web3-as-a-service platform, VORJ.
VORJ was built to help ‘Web2’ businesses quickly and easily deploy Web3 services. The platform allows users to simply click, compile and deploy solutions via a simple and friendly UI, creating fungible/non-fungible tokens, minting OpenZeppelin compatible smart contracts or other products with minimal technical knowledge requirements. In doing so, Vechain removes a large obstacle for businesses looking to build blockchain-powered solutions.
VeWorld, Vechain’s powerful new Web Wallet (mobile and desktop versions coming Q3) also offer game-changing features such as URL-based fee delegation – allowing individuals to use Vechain’s blockchain without paying transaction fees, thus removing a key obstacle to adoption.
Other key technical upgrades include the recently deployed carbon footprint explorer, an official sustainability-focused NFT marketplace, data oracles, a DAO development framework and deployment of popular Ethereum tools, including Hardhat and Remix, with many more in the works.
Adoption Through System Integrators
A key adoption vector for Vechain is system integrators. A dedicated team is focused on working with ERPs to integrate Vechain’s web3-as-a-service products and drive adoption at global scale.
This approach, in tandem with an extensive network of strategic partners, places Vechain at the helm of enterprise blockchain development, and aims to see Vechain thrive as a core player in the Web3-sustainability revolution.
About Vechain
Vechain, headquartered in San Marino, Europe, is the curator of VechainThor, a world leading smart contract platform spearheading the real world adoption of blockchain technology.
Through leveraging the capabilities of ‘trustless’ data (information without intermediaries), smart contracts and IoT technologies, VechainThor has enabled solutions across a wide array of fields. Vechain now turns its attention to the greatest challenge of all – building digital ecosystems to drive sustainability and digital transformation at global scale.
Visit https://www.vechain.org to learn more.
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This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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