VeChain (VEN) Preparing Foray Into Logistic Insurance Market
It’s only six days left before VeCahain (VEN)’s X Node lockup begins, but VeChain already has a different type of lockup in place.
VeChain is partnering LogSafer in a deal that will see the two cooperate as they seek to cut off a huge slice of the approximately $50 billion logistics and insurance market. It is an exciting time to be a VEN holder as things seem to be selling off the market that will surely make the X node lock up such a profitable venture.
The deal with LogSafer was signed on March 13, 2018, and every indication is that it is worth looking forward to. The cooperation will essentially boil down to how best VeChain’s blockchain model can improve the cross-border movement of goods.
If you are looking forward to the VeChain mainnet and the perks that could come with having a locked X node and a blockchain, then thank the VeChain Foundation for keeping the partnership node running. And this time it appears VeChain have genuinely hit the right buttons.
This isn’t to demean the other partnerships that have already been signed. All I am saying that this one just appears ready for take-off, tailor-made for VeChain and its supply chain network.
Well, here is what makes me think LogSafer (YunKeAn) is best for VeChain going forward. LogSafer is an established Chinese company that will enable VeChain to penetrate the supply chain market via the logistics insurance industry.
LogSafer’s reputation in China and around the world means that the company has an operations model to integrate a number of services that interest VeChain’s business model.
All the services are related to the insurance of transit goods, risk identification, and reduction, as well as provision of help with client claims and legal services. Apart from that, LogSafer provides its services all over the world with cross-border supply chain management a major part of their business.
But that’s not why it could prove to be vital for VeChain. The real deal is in what they could lay before VeChain in terms of the client base.
LogSafer works with over 20 major insurance companies around the world, some of the giants in the lucrative shipping and maritime trade.
Furthermore, the company has a vast client base numbering over 2500, all of whom would be available to VeChain. The number may not be that significant, but if half of them integrate VeChain’s blockchain model, then VEN prices would climb as demand increases for THOR.
What’s more important, in my opinion, is that VeChain is able to offer the blockchain platform from which LogSafer will be able to integrate the use of Internet of Things (IoT) and Big Data technology in its framework.
VeChain is looking to close the loop and bring together all the major players in the supply chain management industry. To help achieve this, VeChain hopes companies and other logistics handlers will see the benefit of a decentralized Internet of Things ecosystem.
So, by agreeing on a partnership with China’s leading company in this sector, VeChain has taken one more step towards the loop.
These partnerships will continue to grow, allowing more companies in the ilk of LogSafer to join in and form a decentralized blockchain ecosystem. The aim is that these companies will benefit from a shared economy of data verification and transmission of value.
And at the center of it, all will be VeChain’s Internet of Things and VeChainTHOR. To that end, consumers and manufacturers would both have value. The question then is: Where do you think VEN will be in terms of value?
As we await the mainnet and what else the X node campaign has, remember this:
And so, what should you do? Lock up that X node; VeChain (VEN) is coming to town.
This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your own research and/or consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.