Shortly after sealing a historic deal, UFC, the professional mixed martial arts organization acknowledges VeChain as the leader in enabling the real-life application of blockchain technology.
The Ultimate Fighting Championship (UFC) brand notes that the blockchain company is aiming to change the world through the numerous and unique solutions it is building in different fields.
VeChain Leading the Blockchain Industry Movement
VeChain, the official blockchain partner of the UFC has proven to be a unique blockchain project, with zero percent downtime in four years. For this reason and more, UFC claims that the layer 1 smart contract platform will greatly impact the world and that its solutions will foster blockchain mass adoption.
Reports show that VeChain is building solutions in a wide range of fields including sustainability initiatives, decentralization finance (DeFi), carbon management, medicine, automobile, inventory management, energy, food safety, and traceability.
Following the introduction of the VeChainThor public blockchain in June 2018, alongside its native token VET, VeChainThor has seen growing adoption.
More so, its capacity has been stretched to support solutions in the aforementioned fields in particular. Further development is underway to improve the blockchain network’s block finality property.
According to the VeChain co-founder, Sunny Lu, VeChain is a smart contract platform that is powerful and versatile with unique features.
Also, VeChainThor is designed to tackle the challenges facing the real-world adoption of blockchain technology. “VeChain is used by real-world clientele in a commercial environment at scale, not smoke and mirrors as per a majority of crypto projects,” he added.
As revealed in a report, VeChain has also landed commercial contracts with major enterprises and governments such as Walmart and China.
Read More: China Adopts VeChain Toolchain for Food Safety and Traceability
Furthermore, Sunny Lu noted that “VeChain has a close working relationship with major consulting firms like DNV and PWC, who have been crucial in helping land contracts with Fortune 500 companies and governments across the globe.”
Companies like Frank And Oak (F&A) employ VeChainThor to provide complete transparency and accountability to consumers. By leveraging the VeChainThor, F&A meets elevated standards of ‘verified ethical and environmental action.’
As previously reported by TimesTabloid, VeChain has onboarded a much-needed solution for the luxury goods industry. This solution tackles the problems of theft and counterfeits in the luxury goods sector.
Interestingly, using VeChain’s near-field communication technology, SBTG, a footwear brand ensures the authenticity of products while also sharing supplementary information with shoppers.
While the impact of VeChain is already visible, the world’s leading enterprise-grade Layer 1 smart contract platform, is striving to have more significant impacts across the globe. This led to its partnership with the combat sports company, UFC.
Related: Sunny Lu’s Reaction to Mega Deal with UFC: It’s A Historic Moment for VeChain
VeChain’s Partnership With UFC
In early June, the historic global marketing partnership between UFC, the world’s premier mixed martial arts organization, and the leading global sustainability-focused blockchain foundation was sealed. VeChain co-founder Sunny Lu noted that the partnership was historic with several mutual benefits attached.
The partnership allows VeChain to tap into UFC’s vast audience thereby giving the blockchain project greater exposure to a global audience filled with young entrepreneurs and business owners. Also, VeChain will receive massive integration into UFC assets.
To increase its blockchain capacity to pilot more real-life applications of blockchain technology, VeChain’s team is on course to improve its unique and existing Proof-of-Authority (PoA) consensus algorithm. This impending upgrade dubbed ‘Finality With One Bit (FOB) is a Block Finality Solution.