VeChain has teamed up with BYD for a carbon ecosystem after adding the insurer PICC to its list of partnerships. VeChain has also just recently released mainnet v1.0.2 hwilst VET has raised over 200% in less than a month since bulls starting racing into the crypto market in August.
VeChain is the 18th biggest cryptocurrency around the globe and is heading towards bigger and more advanced things with the announcement of another partnership.
The CEO of VeChain, Sunny Lu posting a tweet earlier today (5th September 2018) saying:
“I know partnerships cannot satisfy you guys any more, so let’s go app directly. More players will join one by one for this Carbon Ecosystem.”
The manufacturer of batteries, battery-electric busses and electric vehicles, BYD has joined forces with VeChain for its VeChainThor public blockchain platform and DNV GL, A global quality assurance and risk management company.
Sunny Lu said:
“As the global leader in green car manufacturing, BYD offered us the opportunity to pioneer real change. It takes innovators like BYD to make the world a cleaner place. Carbon banking will be a new reality for billions.”
This solution further rewards the vehicle operations with carbon credits based on reduction in carbon and the performance of the driving from the vehicle. This solution is estimated to greatly benefit the government bodies and insurance agencies too.
The President of BYD automotive Intelligent Ecological Research Institute, Shu Youxing said:
“This technology not only improves our current offering but allows us to create completely new markets. The unique aspects that VeChain provides will empower carbon monitoring development and sustainable ecosystems. This solution is a glimpse into what we think we can achieve through this partnership.”