HomeNewsCryptocurrencyVeChain News #1: Kidomi, Shopify, Award, Oregon Farmers, Real Estate, DeFi

VeChain News #1: Kidomi, Shopify, Award, Oregon Farmers, Real Estate, DeFi

A lot of the alternative cryptocurrency projects have a lot of active developments to keep an eye on. Most of these changes are not getting the attention they rightfully deserve.

For VeChain, it appears that a lot of recent developments have taken place behind the scenes. It is evident that this ecosystem continues to fire on all cylinders.

PlayTable Welcomes Kidomi

Nearly a year ago, there was a lot of excitement for PlayTable. It is a different way of looking at gaming, particularly for children. This physical gaming table is powered by the VeChain Thor blockchain. So far, it has received  a lot of praise, yet the gaming library needs to keep growing. 

A new offering has been announced by the 8Hours Foundation this week. It is known as Kidomi, and provides digital entertainment for children of all ages. PlayTable users will also get free and unlimited access to the game for one full year. This product is developed by Fingerprint Digital.

Shopify Plugin 

Other big news this week was shared by Real Items Foundation. This startup based in San Francisco is looking to test a new Shopify plugin. What makes it so special is how it utilizes VeChain technology to ensure the authenticity of items sold to shoppers.  

This process is completed by generating non-fungible tokens, or NFTs. These tokens are pegged to physical assets and can be tracked via the blockchain. Once a consumer receives an item, they can scan the NFT to verify it is authentic. 

Recognition in China

The VeChain ecosystem can be used to achieve many different goals. One particular mini-App on WeChat focuses on climate change. Known as the Low Carbon Ecosystem, it rewards users for climate-friendly activities. A very noble venture that deserves more recognition in general. 

Speaking of which, the project has been awarded in China in early January 2020. ODaily, a local media portal, organized their Blockchain Awards Ceremony. VeChain’s Low Carbon Ecosystem won the “best Blockchain Charity Event” award. A prominent notch in the belt on the quest to promote climate action.

The Oregon Farmers Project

In the state of Oregon, VeChain technology is making inroads. A group of farmers is now using this blockchain to track their crops. Intel has provided remote sensors in crates of berries to monitor locations, temperature, and other environmental factors in real-time.

While the article doesn’t make an official mention, the team has confirmed this is powered by VeChain. Experiments like these will determine the viability of this technology. Using supply chain IoT solutions makes a lot of sense. It is often a cost-effective and easily workable solution.

Real Estate Push

It is evident that blockchain technology is of great interest to many different service providers. It can even span industries one wouldn’t normally associate with this technology.  In terms of real estate, there are a few different opportunities ahead for VeChain. In fact, the Vechain Thor blockchain is already being used by Jur.

This particular company is now working with HKCY Hotels Ltd to purchase Cyprus real estate over the Vechain Thor blockchain. A marketplace of Secure Commercial Agreements has been created. HKCY Hotels Ltd is building properties worth over 160 million euro. With the help of Jur, the sale of property will be recorded on the blockchain. Additionally, it will allow for crypto payments, including transactions denominated in VET. 

Unlocking DeFi Solutions

In the cryptocurrency space, DeFi is generating a lot of hype. It is a new set of financial solutions based on blockchain technology. For now, it is something most people access through the Ethereum blockchain.

In the video above, however, VeChain CEO Sunny Lu confirmed DeFi is coming to this ecosystem as well. It will take some time, but the prospects are very promising.  Unlocking DeFi through VeChain will certainly introduce a lot of interesting options.

JP Buntinx
JP Buntinx
JP Buntinx is passionate about cryptocurrencies, fintech, blockchain, and finance. He currently resides in Belgium.
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