VeChain (VET) Foundation:  ICYMI: In keeping with China’s 13th 5-year plan, adoption of blockchain technology is considered a national priority. In May, Shanghai Changning and Huangpu District Gov. reps came to our offices to discuss VeChain’s blockchain-based services.

Recollecting the past event:  Shanghai Changning and Huangpu District Government reps made a visit to our office, and we were glad to discuss about potential transformative collaborations. The VeChain blockchain is ever-ready to serve the community, enterprises, govts and more.

Community response:  There’s been a lot of in case you missed It’s lately. Breadcrumbs before an announcement? Feels like we’re building up towards something big!

This just looks like a Bull Trap.  It just looks like there is a Bitcoin ban and there comes Vechain.  Will Vechain replace Bitcoin in China?  VeChain is’t a crypto / BTC VeChain is a layer1 BlockChain. And VeChain is approved by China to be used for BRI, CAFA, MyStory and many more.

For those who are new, VeChain Technology is an enterprise- focused BaaS company with global entities (China, SEA, Europe, USA), more enterprise adoption of VeChain Toolchain drives utility of the L1 protocol.

The VeChain Foundation is a not for profit organisation incorp. in Singapore which focuses on the growth of the VeChain ecosystem by ensuring info and resources are available to VeChain developers, technology partners and the general crypto community.

Technically, VeChainThor ($VET) is a proprietary L1 smart contract platform which is EVM compatible and has unique features that eases the use of blockchain (MPP, MTT). The community is strongly encouraged to build and create their own dApps in defi, gaming, etc.

Someone who is just new after reading the news about VeChain were like:  It isn’t clear for me, so what’s the conclusion of this post? Can you explain it simple?

A sarcastic reply read:  VeChain Foundation is non-profit and the steering committee is full of investors of VeChain Tech, the profit company. All collaborations and deals are with VeChain Tech. Nonetheless, I like VeChain, but this is the full picture.

Cannot understand the FUD of China. They only ban the trading of crypto currency, not the blockchain technology. You cannot trade Apple shares in China, but Chinese are still buying IPhone.  Does that affect Apple’ shares price? Projects with real use case will win.

Blockchain advancement is engrained in China’s development plans. There is a massive need for blockchain developers and young students are flocking to blockchain education and profession. VeChain is involved in both aspects.