VeChain partnered with a risk management company named DNV GL and they announced that they will work on a public blockchain technology to improve drug traceability, security, and monitoring. This solution will first be implemented in China but if everything works out it will eventually be implemented worldwide.
China desperately needs a solution. The country went under a vaccine safety scandal where it was discovered that manufacturers illegally produced rabies vaccines and later were administrated to thousands of Chinese children. The worst part is that this isn’t the first time manufacturers have done this. This is a major problem for the country for years. Just a few years ago, there was a massive police action where they caught over 300 illegal distributors selling vaccines. Million of these vaccines were stored improperly which can later become harmful.
This is why the country is planning to include blockchain technology as one of the best ways to solve this problem. VeChain developed a blockchain traceability provider in Shanghai and by 2020 VeChain is required to achieve the goal. The way it will work is by IoT devices that will record all the data in the manufacture and transport in every possible level thus the data will be recorded on the VeChain blockchain and will eliminate potential risks of wrongful data recording.
VeChain enables accurate backtracking, targeted recall, ID for each vaccine and risk management to enable targeted monitoring. This invention has the potential to prevent and even eliminate future scandals and bring better and higher quality medical products to the people.
Market Sees Red, Losing $1 Billion Overnight While Bitcoin Remains At $3,600
Crypto Analysts: 2019 May Be A Year Of Bitcoin Accumulation
“Similar to 2015, 2019 may be the year of accumulation.’’Another crypto researcher Willy Woo said that while a crash of bitcoin to $3,122 could lead to an increase in volume, it won’t show signs of starting of the accumulation period. He pointed out:
‘’Despite the technical setup that suggests bullishness is possible, there’s not a lot on-chain volume to fuel a prolonged up move. What we saw in the last 7 weeks was a spike of on-chain volume driven by volatility, coins moving to exchanges to trade. The initial volume spike false signalled a faster detox and an earlier end to the bear market, but in fact it was a volatility side effect. That move from $6k to $3k created immense trade volume, but it was in no way a signal that accumulation volume had begun.’’Until evidence for the accumulation of crypto assets shows up, there are still expectations of high volatility levels.
Dmitry Medvedev: ‘’We Should Watch Closely What Happens To Cryptocurrency’’
‘’But this, of course, is not a reason to bury cryptocurrencies. There are both light sides and dark sides, as in any social phenomenon, in any economic institute. And we should just watch closely what happens to them.’’He continued to discuss social inequalities and how the global digital transformation is speeding up saying the cryptocurrency is a part of that fast-going phenomena. The news comes right after major media outlets published the story of Russia’s plan to purchase $10 billion worth of BTC. Turns out that the news was fake. The Russian economist from the Presidential Academy of National Economy and Public Administration Vladislav Ginko pointed out that he strongly believes that Russia might use Bitcoin to fight economic sanctions and this story swamped the media and got massively exaggerated. Russia is, however, preparing a crypto bill that will provide stable cryptocurrency regulation in the next two months. The Duma State will be drafting a regulatory framework in February to regulate ICOs and crypto crowdfunding.
Nearly 1.5 Million People Used dApps In 2018, More Than A Half Being On Ethereum
"TRON is the most ambitious in the dapp field, with a $2 billion Project Genesis launched in the second half of the year. In addition, it spends $100 million on TronArcade to promote its dapp ecosystem."TRON (TRX) launched 97 decentralized applications in 2018, while its ecosystem and community have been growing at an alarming rate. This week, TRX was added to OKCoin, which is one of the largest US exchanges, in order to be traded against fiat, Bitcoin and Ethereum. The report also showed that gambling accounted for $3 billion in transactions over the course of 2018 in dApps.
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