VeChain unveils VET 3.0 white paper with special focus on…

  • Blockchain protocol VeChain, in collaboration with BCG, released a white paper on VET 3.0
  • The 72-page white paper includes a detailed roadmap of the VeChain protocol’s focus for the next few years

Blockchain protocol VeChain, in collaboration with global management firm Boston Consulting Group (BCG), has issued White paper for VET 3.0.

The 72-page white paper contains a detailed roadmap of the focus of the VeChain protocol for the next few years, with the main message centered on sustainability. According to the white paper, VeChain will create initiatives to provide people with the necessary information to participate in the sustainability program.

The VeChain protocol, which started in 2015, identifies the environment, social conditions, labor conditions, governance and business model as the main identifiers of its sustainability needs.

Small individual efforts, such as reducing personal food waste, are expected to multiply throughout the community. Blockchain solutions will be integrated with municipal initiatives to help people donate non-perishable food. According to the white paper, VeChain is looking for strategic partnerships in the next few years.

In terms of management, the VeChain team plans to expand its technology development and business development units. The People, Finance and Legal functions are also expanding. It is also expanding its engagement team to create new sustainable communities.

Towards sustainability in the crypto-space

In an industry criticized for its energy-intensive operations, VeChain claims to make a conscious effort to run a sustainability-oriented program. Due to the promises and established alliances of VET 3.0, the protocol should have many opportunities to fulfill this goal in the next few years.

The white paper also says that VeChain intends to form strategic alliances over the next few years. The protocol also intends to provide partnerships between beacons to rapidly generate awareness and recognition.

However, VeChain is not the only blockchain protocol that follows a sustainable policy. As a result of Ethereum’s concerted effort to move to a Proof of Stake (PoS) system, it is more than 99% more energy efficient than Bitcoin. Other protocols also continue to focus on initiatives that help manage their carbon emissions.

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