{"id":3089127,"date":"2024-01-30T04:48:12","date_gmt":"2024-01-30T09:48:12","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/vechain-with-walmart-surpasses-200-million-transactions\/"},"modified":"2024-01-30T04:48:12","modified_gmt":"2024-01-30T09:48:12","slug":"vechain-with-walmart-surpasses-200-million-transactions","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/vechain-with-walmart-surpasses-200-million-transactions\/","title":{"rendered":"VeChain With Walmart Surpasses 200 Million Transactions"},"content":{"rendered":"
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Enterprise-focused blockchain solution VeChain, alongside Walmart China, has achieved a jaw-dropping milestone.<\/strong><\/p>\n

In a tweet, VeChain (VET) said it has helped retail corporation Walmart China to process over 200 million transactions.<\/span><\/p>\n

Notably, the transactions were processed on a private network dubbed Walmart China Blockchain Traceability Platform, a private network built on the VeChainThor blockchain in 2019. <\/span><\/p>\n

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\u201cBy leveraging the power of blockchain technology, VeChain is playing a pivotal role in revolutionizing the food industry with its safer and traceable food solutions. With a strong focus on regulatory compliance, they are helping Walmart to align with their key sustainable goals,\u201d<\/em> VeChain noted in its recent announcement. <\/span><\/p>\n

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VeChain rockets past 200M transactions with Walmart!#VeChain<\/a> is helping lift safer, traceable food with blockchain tech plus strong regulatory compliance, helping align Walmart with key sustainable goals. Another collaboration from VeChain launching a better future! $VET<\/a> pic.twitter.com\/iq3fWekhIS<\/a><\/p>\n

\u2014 vechain (@vechainofficial) January 29, 2024<\/a><\/p>\n<\/blockquote>\n

While the Walmart China blockchain traceability platform has recorded over 200 million transactions, the number of transactions on the VeChain mainnet is currently around 52.84 million.<\/span><\/p>\n

The feat comes barely three months after VeChain secured<\/a> a groundbreaking U.S. patent. The patent, which was approved on October 24, 2023, unveiled VeChain\u2019s plans to introduce a novel method for processing a single transaction with multiple tasks.<\/span><\/p>\n

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Interestingly, the recent transaction milestone achieved by VeChain shows that the leading blockchain solution is starting the year on a high note. Earlier this month, VeChain CEO Sunny Lu expressed optimism for the future of the crypto industry, hailing<\/a> 2024 as a big year for crypto.<\/span><\/p>\n

VeChain Partnership with Walmart<\/span><\/h2>\n

Notably, the VeChain and Walmart partnership started as far back as 2019. Through the collaboration, Walmart customers leveraged VeChain\u2019s tech to enhance the traceability of products\u2019 origin and other details.<\/span><\/p>\n

In addition, VeChain\u2019s technology also enabled Walmart customers to track products from farms to the stores. To track items, users are required to scan the product\u2019s QR codes in order to get its real-time details.<\/span><\/p>\n

Following the success of Walmart\u2019s partnership with VeChain, the duo introduced 23 product lines into the traceability platform, a move that further showcased the real-world applicability of blockchain solutions.<\/span><\/p>\n

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Vechain’s collaboration with Walmart China \ud83c\udde8\ud83c\uddf3 for its #Blockchain<\/a> Traceability Platform was featured in a recent article, ‘FuturProof #224: Enterprise Blockchain \u2013 Walmart (10\/10)’ \ud83d\udd16<\/p>\n

Full Article \ud83d\udc47https:\/\/t.co\/FiFgGIQHD7<\/a>#vechain<\/a> $VET<\/a> #Crypto<\/a> #Bitcoin<\/a> $BTC<\/a> #Technology<\/a> #SCM<\/a> pic.twitter.com\/StiATSDcNs<\/a><\/p>\n

\u2014 eisenreich (@eisenreich) December 6, 2023<\/a><\/p>\n<\/blockquote>\n

Since the partnership was announced, hundreds of Walmart China customers have used VeChain\u2019s technology to track products and obtain other details. This has contributed to the massive surge of the platform\u2019s transaction volume to over 200 million. <\/span><\/p>\n

VeChain\u2019s Solution Leverage in Other Sectors<\/span><\/h2>\n

Beyond food traceability and Walmart, VeChain\u2019s technology has been adopted across several industries, including sports and fashion.<\/span><\/p>\n

In the sports sector, VeChain collaborated<\/a> with Internazionali BNL d\u2019Italia in May to develop VechainThor-powered trophies embedded with NFC chips and assigned NFTs.<\/span><\/p>\n

Furthermore, VeChain and French sports fashion brand Venum established<\/a> an apparel line in November 2023. The initiative, which leverages NFT and NFC, helps to guarantee the authenticity and origin of hoodies, vests, and T-shirts developed by Venum.<\/span><\/p>\n

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Disclaimer<\/strong>: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic\u2019s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.<\/p>\n

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