Cryptocurrency News

Why the Weichen Foundation met Chinese government officials


Through his official Twitter handle, Wichen Foundation Confirmed the meeting with government officials of three important Chinese districts. Representatives from Shanghai, Changing and Huangpu visited the organization’s office in Singapore.

Per Report good By the VeChain Foundation, representatives of enterprise blockchain platforms and governments talked about “potentially transformative collaboration”. The organization claimed to be “always ready” to help all sectors, from private companies to governments.

a separate Report good Deputy director of the Chan District, Pan Min, has “repeatedly” praised Wechin’s technology and business development, as published by the Chinese website ChainNews.

The meeting was attended by Weichen Technology chief scientist Dr. Xiheng Zhou, human resources director Bing Wang, marketing and public relations director Yiyun Xia and CEO’s executive assistant Diyun Gong.

From the public sector, the meeting was attended by members of the Construction, Commerce, Science and Technology, and Direct Investment Promotion Committees along with other government officials.

They were tasked with explaining the use cases, their business models and how Wechin could make a difference in the corporate sector. During the meeting, participants also discussed how the Weichen-based products helped offset the impact Kovid-19 Epidemic And the capacity of the stage to Provided incentives to run ecosystems with low carbon emissions.

This platform has seen a boom in China, a. According to Report good By state-backed TV station Shanghai Media Group (SMG). This news channel produced a report on the role of Vechin in a 5-year national plan to develop its blockchain capabilities.

The capacity of Wichen was accepted by Nasdaq

Following the crash in the crypto market, some altcoins are available at a “discount”, as said by optimistic investors. a Report good The “7 Low-Cost Altcoins That Still Have Solid Potential in 2021” published by Nasdaq lists VeChain, Bitcoin, Cardano, Ethereum and others in this ranking.

The report cited a thesis by Pietro Palamara, an academic at the School of Industrial and Information Engineering at the Polytechnic University in Milan, Italy. This academic claimed the following:

WeChat is a licensed blockchain platform based on the Ethereum blockchain, it was developed by Chinese BAS company BitSe based in Shanghai and founded by former managers of IBM, Louis Vuitton and Alibaba. The developers of VeChain aim to completely eliminate the market threat of counterfeit goods using the potential of smart contracts and blockchain technology.

Vet Trades 10% and 13.8% improvement in the daily and weekly charts at $ 0,11. In the monthly chart, VET recorded a loss of 45.9%.

VET is on the decline in the daily chart. Source: VETUSDT Tradingview

This cryptocurrency has been heavily affected by the recent crash, but analyst Justin Bennett is optimistic about its long-term performance. He said:

People forget that $ VET started this correction at + 17,600% from the March 2020 low. Even at 0.04, it will still be 2,400% above the 2020 low. You cannot enjoy those types of benefits without examining the large intestine on the way.





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