VeChain partners with Amazon – Will it drive VET price to $0.50?

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• Market players in the Carbon footprint management sector are enhancing carbon traceability through blockchain technology.
• Amazon cloud technology will collaborate with the shanghai exploration chain to explore the implementation of trust carbon management for enterprises.

The popularity of blockchain technology in the carbon footprint management market keeps growing steadily. As a result, many service providers in this space are exploring using blockchain technology to enhance carbon traceability.

Blockchain technology helps with live tracking and analysis of energy consumption. Earlier in the year, the VeChain foundation and Amazon web services partnered to explore a carbon-neutral digital infrastructure to enable firms to manage their carbon footprint and achieve their emission targets.

VeCarbon x Amazon Cloud Technology

“Amazon Cloud Technology will join hands with Shanghai Exploration Chain to explore the way of trusted carbon management for enterprises under the background of dual carbon.” 🤝#VeChain $VET #Sustainability #Green #Tech #RunsOnVeChain pic.twitter.com/Jn0ClSYlo0

— eisenreich (@eisenreich) November 2, 2022

Amazon is taking the partnership further by collaborating with the Shanghai exploration chain through its Amazon cloud technology unit. Through this latest partnership, Amazon will start providing trusted carbon management for enterprises using dual carbon – a key feature of VeChain’s VeCarbon.

Society has undergone significant development through “digitalization” and “intelligence.” Meanwhile, there would be a continuous improvement in intelligence and digitalization technologies to provide greater possibilities. Such technologies include cloud computing, big data, network, and cloud.

As one of the leaders in the cloud technology space, Amazon cloud technology is using its years of experience in this field to enable users to explore digital innovation. Thus, they can access more opportunities. One way Amazon helps users to explore these digital innovations is through its acceleration week innovation.

Attendees of this event can tap into Amazon’s network to establish communication bridges, interact with one another and connect with Amazon cloud technology partners. In addition, users can expect to explore and build unlimited partnership possibilities. The next edition of Amazon cloud technology’s “acceleration week” started on October 31 and ends today, November 4, 2022.

This event aims to harness industry players’ experience and expertise to develop the next-gen infrastructure. The event has been exciting, with over 20 partners sharing their insights either at the architecture stage or the modern application development stage.

Achieving carbon neutrality goals

With corporate carbon management one vital essence of the “innovation acceleration week,” the deployment of VeCarbon is inevitable. VeCarbon builds carbon-neutral digital systems with blockchain technology. Also, it provides trusted carbon emission solutions in measurement, reporting, and verification.

The VeCarbon team consists of seasoned experts in carbon asset development and management. The VeCarbon management platform is built on VeChainThor’s blockchain technology. Thus, it helps entities (whether government or private) to achieve low-carbon transformation.

This innovation is good news for China-based companies as they seek to revamp their business models and reduce their carbon footprints. Chinese authorities have set carbon neutrality goals for all companies based across the country.

The VeCarbon has been deployed across various industries and application scenarios from June 2021 till date. Meanwhile, Amazon web services will continue to provide technical support for VeCarbon as it seeks to achieve its lofty ambitions of providing global large-scale analytics and storage solutions to entities.

These positive developments are positively impacting VET already. Meanwhile, Vechain’s native token is up 6.14 percent in the last 24 hours and trades at $0.0249.