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VeChain and Walmart will launch a joint project. Against this background, the price of the VET token soared by 24%

VeChain blockchain project together with one of the world's largest consulting firms PricewaterhouseCoopers (PwC) and American retailer Walmart will launch a project to ensure food safety in China. I really wanna wait for official release. And PwC Fellows are quite proud for what we have achieved together. https://t.co/inYlxpo9nO – Sunny LU, VeChain (@ sunshinelu24) June 25, 2019 […]

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VeChain blockchain project together with one of the world's largest consulting firms PricewaterhouseCoopers (PwC) and American retailer Walmart will launch a project to ensure food safety in China.

In particular, Walmart will be engaged in the supply of products to China, and VeChain will provide a blockchain solution to control this process.

Note, the American retailer began experimenting with the introduction of a system that allows you to track information about food products, back in 2016.

CEO VeChain Sunny Lou noted that further details will be known after the official release. He also stressed that this is not only about partnership – companies are working on a joint project and the use of technology to empower clients.

“This is really a massive introduction of [blockchain technology] not only for consumers, but also for more than 500 food suppliers,” Lu wrote on his Twitter.

The head of VeChain also added that the collaboration demonstrates the interest of large enterprises, such as Walmart, in using not only private, but also public blockchains.

Lu said that technically the crosschain protocol between VeChain and the others is ready.

“We are ready for a model of the future. As someone from IBM said: “The future is for the hybrid model,” said the startup CEO.

It is reported that Walmart China has already conducted the first tests using VeChain technology. In the second half of this year, the scale of the project is planned to be expanded by adding such categories of products as meat, vegetables and seafood to it.

It is worth noting that, against the background of this news, the rate of the VET token jumped sharply, rising at a certain point by 40%, updating the maximum in 2019 at $ 0,0103. Later the price was slightly adjusted. At the time of writing, the VET is trading in the $ 0.009045 area.

VET / USD, TradingView data

Recall that in May last year, PwC acquired shares of cryptostartap, and at the end of June the official launch of the VeChain network took place .

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