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VeChain was invited to a private meeting with Boston Consulting Group.
VeChain was the only blockchain invited owing to its recent developments.
VeChain (VET) has through innovative means promoted the agenda of Environmental, Social, and Governance (ESG) in the last few years. Its passion for this course has earned it an invite to a private meeting with the Boston Consulting Group and 1800 leaders of global enterprises. Interestingly, VeChain was the only blockchain invited.
In a tweet, VeChain urged enterprises to consider its new development tools to understand why enterprises choose their native token VET. As part of the description of its promotional video from the event, it presented its VORJ.APP to the world.
vorj.app <- Our no-code solution to allow you to deploy #Ethereum-standard tokens, #NFTs or integrate preconfigured APIs/Smart contracts and build projects with ease – for people and businesses alike. Whether beginner or pro, we’re bridging the #Web2 -> #Web3 gap and helping onboard the next billion users to blockchain.
In the promotional video, VeChain stated that it engages everyone in sustainability. Instead of imagining a sustainable, inclusive, and equitable world, VeChain has an innovative approach to get everyone involved to make the world a better place.
Recently, it was reported that the blockchain accounts for 4,459.41 kg in carbon emission and a total of 1,789.58 kg YTD. This puts it ahead of most of the blockchains as it drives adoption through low transaction fees and high throughput.
VeChain with Low Energy Consumption
VeChain’s carbon emissions’ financial implications have been estimated to be $143 YTD. Last year, it was around $357.
Sarah Nabaa, VeChain Singapore GM tweeted in April.
They stopped at the top 8. I think vechain deserves a special mention for solving so many issues faced by most public blockchain protocols – low carbon – scalable , low fees – anyone can use the VeChainThor blockchain – PoA 2.0 consensus mechanism = deterministic finality of transactions – steering committee + AM node holders for on chain governance.
According to VeChain, its VeChainthor infrastructure offers an energy-efficient, user-friendly, and open platform for collaboration. In addition to using its Proof of Authority mechanism to find a balance between speed and scalability, It lowers energy consumption, making it fit for sustainability initiatives.
Over the years, several assessments have demonstrated the platform’s energy efficiency, but we’ll let the numbers speak for themselves. The 2022 carbon footprint of vechain’s core network of 101 authorities’ nodes was calculated to be 4.46 t CO2e/year, ranking vechain as one of the energy-efficient blockchains, using just 0,000216 kWh of electricity per transaction, or roughly 0,004% of other comparable blockchains.
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It can be recalled that in 2021, Hydro Norsk, a Norwegian Aluminium producer, started using products built by DNV on the VeChainthor. Mercedes has also become a buyer of Hydro Norsk’s green aluminum. According to the team, no technology has had such an impact on information sharing since the emergence of the internet. It also claims to be leading the real-world sustainability application and mass adoption of the technology.
As of press time, VET was down by 2.3 percent in the last seven days and trading at $0.019115.
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