VeChain Bags China’s Green Innovation Technology 2020 Award

Leading enterprise-friendly public blockchain platform VeChain announced today in a tweet that it has been declared the winner of this year’s Innovative Green Technology award at the China Green Economy Summit 2020. 

The event was hosted at the Shenzhen Convention and Exhibition Center by the Chinese government in collaboration with several government agencies, including the country’s Ministry of Commerce, Ministry of Science and Technology, the National Development and Reform Commission.  

Other government institutions supporting the event include the Ministry of Agriculture and Rural Affairs, the Chinese Academy of Sciences, the Chinese Academy of Engineering, and the Shenzhen Municipal People’s Government. 

VeChain’s head of Sustainable Business, Tang Min, said at the event that developing green products is pivotal to the survival of a business. 

According to Min, assisting companies in developing green digital strategy will be utilized in resolving technical issues and further create a clearer picture of their corporate needs. 

VeChain’s sustainability solution gets recognition 

Also, the firm noted in the announcement that its Project Manager, Luke Tang, briefed the attendees about its recently launched Blockchain-enabled Sustainability Solution. 

Built on VeChain’s one-stop data Blockchain-as-a-Service (BaaS) platform, the solution is dedicated to powering green businesses and its sustainable practices to consumers and financial regulators, and policymakers.  

Recall that VeChain launched the service in August as consumer behavior shifts towards adopting greener and more sustainable products due to increased awareness about the effects of climate change. 

Based on a survey conducted by the IBM Institute of Business Value in June 2020, more consumers are ready to change their shopping habits to reduce environmental impact. 

VeChain’s emergence as a winner of the innovative green technology award shows the firm’s consistency in developing environmentally friendly blockchain-related projects. 

The firm is involved in developing several blockchain-related projects, and its tech has been utilized in diverse industries, especially in the supply chain. 

Last month, Shanghai-based public healthcare service Renji Hospital tapped VeChain’s technology to power the world’s first blockchain intelligent tumor treatment center.