The going rate at time of this writing is 5¢, my my my how things have changed for this scrappy project. A quick recap, VeChain, is positioning itself as the blockchain of enterprise. Their competition is stiff, and entrenched, IBM, Oracle, SAP and the like. So just how has this little once relatively obscure crypto been doing these past few years?
The answer is get the red blanket cause the matador is staring down a BULL! The outlook for this coin is very promising and, in a shameless plug, tracking very close to my predictions 2 years ago. So lets recap some major signals that this coin is ready to break!!!
- IBM has withdrawn its blockchain department, yes you read that right. VeChain survived and IBM folded. That leaves only a few major players in the enterprise software space in the race and VET has a serious first mover advantage.
- Forbes listed it as a top 5 crypto to have. This goes without saying as many FOMO/Low information investors will simply buy it and in large quantities. That kind of clout is huge in a new space such as cryptoland.
- Amazon has a deployable image in its Aws repository.
- Crypto.com has listed VeChain as one of the candidates for its loan program
The last one believe it or not is most telling. Before I explain why I want to first explain how loans work in the Fortune 500 or Ultra High Net Worth (UHNW) individual space. There are several loan structures they prefer. One of which is the collateralized loan, they will use art, precious metals, or like the less well to do, land holdings to secure a loan. Normal people use a similar structure for a Mortgage or Home Equity loan. So with that as a frame of reference let us examine, the candidates crypto.com uses for its lending program
- CRO (their exchange coin)
Excluding CRO as exchanges always allow their own coin special privileges, them using VeChain in this structure is very telling. Setting up such a program is very expensive, and very risky. Most obviously, if the loan becomes more expensive than the coin, the borrower could just forfeit the loan. There is depending on the countries also certain regulatory hurdles to overcome that can be expensive. So they must have a very good reason to include VeChain in that illustrious list .
So to sum it up, we are now seeing that VeChain is not only getting the technological trappings of adoption (listing as an image for deployment in Amazon Web Services) but the financial infrastructure needed for wide adoption. Most importantly, the services needed to adopt it into normal wealth management practices by UHNW individuals and corporate clientele are being created. The outlook for this project is even brighter NOW than it was 2 years ago. I know of no other project that has all of these relationships to leverage for its users!!