VeChain uses a mix of blockchain technology and built-in smart chips to keep track of items throughout their lifecycle. Smart chips can be implemented in various IoT items such as NFC 999 chips, RFID trackers, or QR codes. While this may not be like the most exciting technology, it is essential to ensure product quality across the industry. Let's look at the luxury goods sector as just one example.
The luxury goods industry is forged with counterfeit goods - worth over $ 450 billion. With items like a Louis Vuitton bag that changes hands several times during production and distribution, you need to believe that person before you deliver something authentic.
VeChain, like other blockers, eliminates the need for this trust. At each step of the process, you can scan the smart chip on each item to ensure you receive what it should be. Because blockchain is an unchangeable book, you can trust that you receive accurate information.
This is only temporary
How to Vechain analysis that produces Profit
VeChain (VEN) has completed five impulse waves. The Elliott Wave states that after five waves there is a necessary correction of a, b, c. This means that the correction will be zig zag (5,3,5), falt (3,3,5), triangle (a, b, c, d, e) or a combination.
There are 36 possible Elliott Wave calculations that allow and possibly about 2.7% get the correct one. This is a good reason for HOLD as long as the correction occurs so as to achieve the most ideal time to take advantage, in this case at the end of the fifth wave.
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The chart below shows the consolidation phase in progress. Possibly, this will be a triangle and once the wave a, b, c, d, e finish, the increase is expected to reach the highest price so far.
This is the prediction of the price for the future. Wave is able to bring the price up to $ 13.62 or 117% profit potential.
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