Crypto

VeChain Technology can be Useful During the Coronavirus Crisis

During the coronavirus crisis, cryptocurrency and blockchain startups can play a crucial role. VeChain is using its native technology to verify COVID-19 masks are legitimate first and foremost.

There are a lot of concerns regarding materials and equipment needed during the coronavirus crisis.

The Role of VeChain During the Coronavirus Crisis

Particularly where face masks are concerned, there is a batch of “approved ones” and ample others that simply don’t meet requirements.

Distinguishing between the two sets can often only be done after the fact, which is far from ideal.

VeChain, the blockchain company, is looking to change that narrative in a positive manner.

Through its native technology, the team will keep track of KN95 masks being produced in China.

This is achieved by working directly with production facilities in the US and China, as well as Real Items.

Related Post

That latter company is a startup in San Francisco.

Its main focus lies with adding verifiable QR codes to boxes of KN95 masks.

All of these codes contain data that is recorded on the VeChain blockchain.

By scanning the code on the box, retailers will be able to determine if the products are genuine.

An interesting approach, although it needs to be scaled to a global level fairly quickly.

Many countries deal with fake or inadequate coronavirus face masks, a situation that needs to come to an end sooner rather than later.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

TRON Leads All Blockchains in November Fees as Perpetuals Trading Surges 271%

TRON ended November as the top blockchain by fees, extending its dominance in payment infrastructure…

22 hours ago

Prediction Markets Hit New All-Time Highs as November Volume Surges to $14.3B

Prediction markets just locked in another breakout month. November closed with $14.3 billion in total…

22 hours ago

Trust Wallet Launches Native Predictions: A New Era for On-Chain Betting

Trust Wallet is stepping into a completely new lane. The CZ-owned self-custody wallet has launched…

2 days ago

Kraken Acquires Backed to Supercharge Tokenized Equities as xStocks Enters Its Next Phase

Kraken has announced the acquisition of Backed, the tokenization platform behind some of the fastest-growing…

2 days ago

Sui Pauses & AVAX Rebounds While Zero Knowledge Proof’s 200M Daily Presale Auction Goes Live, Sparking Massive Buyer Rush

Sui Pauses & AVAX Rebounds While Zero Knowledge Proof’s 200M Daily Presale Auction Goes Live,…

3 days ago

Europe Takes Down Cryptomixer: A $1.4B Bitcoin Laundering Machine Falls After Eight Years

Europe just shut down one of crypto’s longest-running shadows. Germany and Switzerland, backed by Europol,…

3 days ago