Sunny Lu, the CEO of VeChain, has given tips on how the popular blockchain project is planning to use its technology to change the world.
According to Lu, VeChain is already making a significant impact globally as its tech has been deployed in various sectors, including supply chain, carbon management, decentralized finance (DeFi), etc.
However, he noted that VeChain’s impact on the world in the future will be more significant than what the company has done in the past.
Lu made the exclusive comment in a recent interview with UFC, a leading mixed martial arts organization.
— VeChain Foundation (@vechainofficial) August 1, 2022
VeChain’s Committed to Changing the World
Lu noted that VeChain would create an incentivized ecosystem in San Marino. This would see residents based in San Marino rewarded with tokens for maintaining positive environmental behavior.
The tokens can be exchanged for fiat and will be used in the purchase of goods and services. Notably, the project is part of San Marino’s 2030 UN Sustainable Development Goal (SDG).
He said VeChain would deploy its technology for carbon recording in the future. With this in place, Lu noted that there would be a more effective carbon market in the coming years.
Additionally, VeChain would also focus on plastic reclamation from the hydrosphere. This will be made possible through the use of VeChain’s technology. Interestingly, the tech would also contribute to converting plastics into new products.
Another aspect VeChain is looking at deploying its tech to is to help companies enhance their brand engagement with their customers.
Companies will be allowed to leverage VeChain’s tech to enable their customers to choose products that align with their spending habits.
Lu disclosed that VeChain would also eliminate fraudulent activity in secondary luxury markets via the use of embedded NFC chips. Through this initiative, there will be prevention of resale fraud, which will keep buyers safe.
VeChain Partners UFC
It is noteworthy that Lu’s interview comes following VeChain’s partnership with UFC. As reported by TheCryptoBasic, the mixed martial arts organization announced that it had chosen VeChain to become its first official Layer-1 partner.
“This is just the beginning of a long-term partnership with UFC. We are looking forward to changing the world together,” Lu said.