VeChain Confirms Partnership with BMW

During the rebranding event, VeChain CEO confirmed the rumors about VeChain and BMW partnership
27 February 2018   2932

Blockchain-based supply chain enhancement platform VeChain official announced the partnership with the German car manufacturing giant BMW. It was confirmed by VeChain CEO Sunny Lu during the event.

Before the announcement, rumors of the partnership between VeChain and BMW had been circulating in the cryptocurrency market for a while now.

After all, BMW is not the first car manufacturing company to partner with a blockchain firm. Not a long time ago, Volkswagen partnered with the Berlin-based blockchain firm IOTA, to utilize the latter’s massive data pool.

More than that, VeChain rebranded itself to VeChain Thor, a marketing stunt which has proven successful for many projects.

Besides the partnership with BMW, VeChain (currently VeChain Thor) has also announced a collaboration with Oxford University. The university will help with the technological development of the VeChain Thor platform as part of VeResearch.

Furthermore, yesterday, South Korean crypto exchange Coinnest listed VeChain Thor tokens.

Bakkt to Release Consumer App This Year

The app can be used for a wide range of tasks, e.g., crypto and securities trading, virtual goods purchase, etc
23 January 2020   90

Institutional Investor Platform Bakkt will release an app for retail investors this year, with which users can pay with cryptocurrency.

According to the president of Bakkt Adam White at the World Economic Forum in Davos, the application can be used for a wide range of tasks. In addition to trading cryptocurrencies, it will support various virtual “goods” like points of loyalty programs.

In addition, in the future it is possible to add securities trading, as well as the creation of a portal for shops and merchants. That is, the application will be more like a traditional fintech product like PayPal than a solution from a cryptocurrency exchange.

Although the Bakkt platform was originally created for institutional investors, the new director of Mike Blandina is very serious about entering the retail market. Earlier, he said that the application for retail investors should be released in the first half of 2020.

I do not think we are there yet. What gives me optimism is that we are seeing a lot of developer interest. I am confident that someone is going to find something.

 

Adam White

President of Bakkt

 White added that the cryptocurrency market is still underdeveloped.