in

Cryptocurrency : VeChain (VET) could partner with Chinese government to expand blockchain

The officials include the leaders of Huangpu, Changning and Shanghai districts. According to the company, they planned to discuss possible transformative partnerships.

The Chinese government has been very vocal about its dislike of cryptocurrency trading and mining lately, but the country’s love for Blockchain technology is obvious.

Looking for quick news, tips, and market analysis? Sign up for the Invezz newsletter today.

The country recently banned the mining of Bitcoin and other cryptocurrencies in the country. However, government officials recently visited the Blockchain platform VeChain (VET / USD), praising its technology.

Possible transformative partnerships

It’s no secret that China has prioritized blockchain technology and the launch of its central bank digital currency (CBDC). However, the country is firmly against the growth of Bitcoin (BTC / USD) and other cryptocurrencies due to their perceived high risk.

The VeChain Foundation stated that officials from three districts in China visited its Singapore offices. The officials include the leaders of Huangpu, Changning and the Shanghai district. According to the company, they planned to discuss possible transformative partnerships.

“The VeChain blockchain is always ready to serve the community, businesses, governments and more,” stated the network.

The company stated that it is ready to serve more business, government and community. According to the report, officials expressed their belief that blockchain technology has an important role to play in the future of the digital economy.

Officials also expressed their admiration for the technology and confirmed VeChain’s technology business development direction.

Growth potential for VeChain

This recognition, according to the firm, could help VeChain grow rapidly in the technology space.

It is even more important to know that China has the largest population and the second largest economy in the world. It is also expected to become the world’s largest economy.

The adoption in China will put VeChain in a serious dispute as the world’s largest blockchain, based on the size of the market it could control.

This type of news can boost VeChain’s operations and customer base. The platform already has 1 million accounts and is only three years old.

Invest in cryptocurrencies, stocks, ETFs, and more, in minutes with our preferred broker, eToro

7/10

67% of retail CFD accounts lose money

Morena and her allies get 185 districts … at the moment

Martic and Rogers take the place in the quarterfinals at the expense of Fichman and Olmos