VeChain and TruTrace Announce List of Industries on Blockchain

Paigambar Mohan Raj
Source: PR Newswire

As per a recent Tweet, VeChain and TruTrace have finally announced the list of industries they will integrate into the blockchain platform. TruTrace is a Canadian SaaS (software as a service) firm. As per the announcement, the platform will onboard TruTrace’s legal cannabis, food, apparel, and pharmaceutical industries.

Food, apparel, pharmaceuticals, and even the emerging legal cannabis market, are basic essential goods. These products are an integral part of human life and sustenance. Bringing these industries to the blockchain had to happen at some point or the other. It was only a matter of time before we heard such news about basic requirements being moved to web3.

Furthermore, the VeChain and TruTrace partnership is not new. The two companies announced their collaboration in late August 2022. As per the announcement, the two firms will work to integrate their complementary technologies and promote blockchain adoption.

VeChain pushing blockchain adoption?

There is no doubt that blockchain technology is definitely the way of the future. And as such, companies and service providers are amping up their game to be prepared for web3 and a future on the blockchain. Thus, TryTrace integrating some of its industries onto the blockchain is no surprise.

Moreover, their decision to partner with VeChain might also pay off as the platform has announced a host of other partnerships as well, which signals a sign of trust and belief. VeChain most recently announced a partnership with OrionOne, a SaaS (software as a service) firm.

Moreover, VeChain also recently partnered with UCO Network to build blockchain infrastructure for the biofuel sector. Thus the blockchain platform is not only catering to basic essentials, as in the case of TruTrace, but also to the energy sector.

At press time, VeChain’s native token VET was trading at $0.02262810, down by 2.1% in the last 24 hours.