Today two major and positive developments for Vechain have been announced. The day started this morning with a statement from Binance that American customers can trade in VET again.
That turned out to be just the beginning, as it was announced this afternoon that the VeChain blockchain solution will play a crucial role in a deal between China and France.
VeChain in America
Normally this is big news for VeChain traders, but now it seems to be a footnote. For a few months, due to regulations, Americans can no longer use the Binance exchange. That’s why a special American branch of the stock exchange has been opened. Slowly more and more new coins are added to this. VeChain was added today.
https://t.co/AZwoBOy3iq Will List @vechainofficial $ FAThttps://t.co/xRuOYZOtj3 pic.twitter.com/T9U6fxjfbC
– Binance.US (@BinanceAmerica) November 7, 2019
VeChain in China and France
Two weeks ago, Chinese President Xi was positive about the use of blockchain. This created a positive vibe in the cryptomarkets. The price of bitcoin even increased by more than 35% within a few hours.
But now President Xi has put the deed to the floor. VeChain provides a public blockchain solution, together with ASI group and DNV GL. The idea is that France and China have signed a trade agreement with the aim of allowing France to export more food and drink to China. The VeChain blockchain ensures that French food and beverage products enter the B2B market in a transparent and traceable way.
Announcing Foodgates, a cross-continental logistics & trade platform powered by #VeChain. Together with @DNVGL & ASI Group, it was an honor to serve #blockchain authenticated beef to Chinese President Xi Jinping & French President Emmanuel Macron at #CIIE.https: //t.co/mKhHPg79FA
– VeChain Foundation (@vechainofficial) November 7, 2019
Already taken into use
The announcement was made at a press conference during the China International Import Expo 2019 (CIIE). French President Macron and President Xi Jinping were both present at the CIIE earlier this week. A small demo has even been held. President Xi was served a piece of meat from Limousin Promotion.
The meat was imported using the blockchain solution from VeChain, among others.
According to France 24, China is currently the 7th largest trading partner in France. In 2018, China imported 24.5 billion French goods. At the time of writing, the price of VeChain has risen by more than 10% in the last 24 hours.
More information about the deal between France and China and the role of VeChain can be found in this message from VeChain.
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