VeChain (VET) Price May Hit Record High Following Partnership with BMW and Deloitte

VeChain has been in Headlines these days, sometimes due to its price predictions and sometimes due to its major partnerships associated with Big names, continuing the legacy, The VeChain project has now announced that Deloitte will join its network to develop its own blockchain solution in the VeChainThor network. The leading audit company has announced its migration from the Ethereum network.

Deloitte-VeChain Partnership

During the VeChain Summit 2019 in San Francisco, the news about VeChain-Deloitte comes into the light through a Tweet, The summit was organized for widespread adoption of VeChain, where they further explained how VeChainThor could be used for a variety of innovative future applications and solutions, such as ToolChain, which VeChain says allows companies to launch solutions in under 30 minutes. Antonio Senatore, CTO of Blockchain Global, Deloitte Board Member, will also join VeChain’s Advisory Board.

Deloitte is one of the “Big Four” professional services firms and other Big Four members, Pricewaterhouse Coopers, is also working with VeChain to find blockchain solutions. Deloitte is the largest of these four groups and all members — Ernst and Young and KPMG being the other two — are currently exploring the possibility of implementing blockchain technology.

BMW-VeChain Partnership

The leading German automaker made the announcement during VeChain Summit 2019 and said VerifyCar will publish every interaction with a car in VeChainThor’s public ledger. The application will help you deal with odometer fraud, which is a big problem in the automotive industry.

According to a company official, almost a third of the vehicles sold in Germany have been manipulated with their odometer and as the value of a used car depends on the number of kilometers traveled, the resulting effect is an economic fraud of approximately $ 3,400 per vehicle. VerifyCar is a digital passport that will allow customers to verify the car’s odometer and maintenance history.

BMW has introduced a mileage verification tool based on the VeChain blockchain called VerifyCar. The tool will be used to allow buyers to verify the actual history of a car.

VeChain’s Significant Progress in 2019

The VeChain project made significant progress in 2019, forging numerous partnerships and revealing attractive solutions for companies like ToolChain, and also integrating its NFC chips into Adidas’ official sneakers for the new Game of Thrones season. Getting Deloitte, which generated revenue of about $ 43 billion in 2018, works with VeChainThor is no small feat either, and offers some validation of the potential of the project.

VeChain Thor Price Prediction

BMW generated 97 billion euros in revenue and Deloitte generated revenues of more than $ 43 billion last year. Having these big players in VeChain Network will serve as a beacon for more companies to explore the blockchain of VeChain Thor. This would lead to an increase in adoption of VeChain’s blockchain and possibly a long-term forecast of VeChain Thor’s price forecast.

Right now, VeChain is trading at $ 0.007006. It increased by 1.10% against the US dollar and by 3.87% compared to the price of the BTC. The volume of transactions over a 24-hour period is $ 388,538,192 and the market capitalization is $ 16,885,075. With more news from VeChain like this, the VET token could reach the $ 45 level, as predicted by smartereum.