VeChain has facilitated for the first global use case in terms of vaccinations. Some of the users feel that this use case will trigger a bullish trend for VET.
VeChain Foundation tweeted: “The first 100 COVID-19 vaccination records for medical personnel at The Mediterranean Hospital of Cyprus are now securely stored on the VeChain public blockchain. With this tech, govs and individuals are assured of the quality and validity of results.
It is worth checking the Mediterranean Hospital of Cyprus’ Digital Certificate concerning the vaccinations against Covid-19 via E-HCert Application to understand the process better.
The Mediterranean Hospital of Cyprus announced that 100 doctors and personnel of the Hospital received on 4th of January 2021 their first dose of the Covid-19 Vaccine. VeChainThor Blockchain issued the digital certification for the vaccination on their HCert app indicative of a major transformation in the healthcare industry.
Important to note that previously in June 2020, more than 8000 people received their COVID-19 RT-PCR Tests results, through the E-HCert.
VeChain are focused on solving real world economic problems, which is very visible from the different projects they are involved in.
The meta-transaction features are native to VeChain Thor blockchain’s core protocol, like the multi-party payment, multi-task transaction, controllable transaction lifecycle, transaction dependency thus making the development more user-friendly for enterprise adoption.
Proof of Authority is a unique feature of VeChain – The authority Masternode Operators have an aligned interest in the development of VeChain ecosystem therefore help maintain the VeChainThor protocol per the order of the governance policy. Thus, the PoA addresses the enterprise’ common concerns related to inefficient upgrade and waste of energy.
The identity of the authority Masternodes are strictly verified by the foundation. The built in smart contract controls the processes. When the masternodes do not upgrade it is thus possible to avoid hard forks.
Only low computation power is required to achieve the network security and consensus integrity. The Authority Master Nodes is a part of the ecosystem of Academic Research Partners, blockchain developers, enterprise users, business and technical partners, and community contributors.
The two-token system of VET+VTHO has a major role to play to separate the cost of using the blockchain from the market speculation process.
The blockchain resource utilization is correlated and the cost is more predictable with the monitoring of the VTHO supply and demand process. In addition to this, the foundation’s governance mechanism stabilizes the cost.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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