China: Media Portal Awards VeChain’s “Low Carbon Ecosystem” for Charity Work

VeChain (VET) and DNV GL’s jointly developed Low Carbon Ecosystem was awarded the “best blockchain charity event,” by Chinese media portal Odaily at the 2019 Blockchain Awards Ceremony. This, according to a report by VeChain101 published on January 16, 2020.

VeChain Platform Bags Chinese Award

VeChain’s goodwill in China seems to be on a continual surge as recently, the blockchain project’s WeChat Mini-App named Low Carbon Ecosystem (LCE) was awarded in China for charity work.

Notably, in September 2019, LCE partnered with Shanghai People’s Broadcasting Station (News 990) and an array of other municipal bureaus to bring to rural parts of China school uniforms and supplies. Per sources close to the matter, the supplies were donated by local primary and middle schools in Shanghai. In return, donations made through VeChain’s LCE were used to cover the expenses related to shipping, transportation, and other components of logistics.

For the uninitiated, users can use LCE to earn points daily. Users can spend these points by donating to charitable programs or toward discounts in the Low Carbon Shop.

Recognition of a venture like LCE by the Chinese media is a testimony to the level of goodwill VeChain enjoys within the Chinese blockchain-ecosystem. It’s also important to note that Chinese leader Xi Jinping has repeatedly emphasized the potential positive benefits of distributed ledger technology (DLT).

VeChain’s efforts in alleviating the socio-economic structure of the Chinese economy also carry with them a morally and politically theme which would further put the project in the populace’s good books.

Recent VeChain Developments

VeChain is arguably the most prominent DLT project which intends to disrupt supply chain space with blockchain technology. The Singapore-based venture aims to leverage DLT to reduce the opaqueness associated with global supply chain systems.

On November 8, 2019, BTCManager reported how VeChain and allies had unveiled a blockchain-powered cross-continental trade solution.

On a recent note, BTCManager informed its audience how VeChainThor launched a new DLT-enabled decentralized voting platform dubbed VeVote in a bid to foster transparency within the VeChain ecosystem.

At press time, VET sits at 30th position on the CoinMarketCap crypto table, trading at $0.0063.