Following the decision of Chinese President Xi Jinping, who asked to put blockchain technology at the forefront of the requirements to be paid attention to by the Chinese government.

VeChain token (VET) has seen a remarkable rally since then, with the cryptocurrency up 176%.

And the bullish momentum could continue as the VeChain Foundation continues to expand the utility of its token.

Integrating VeChain within the context of game development:

announce Jamie Thompson, British writer and winner of the 2012 Ronald Dahl Laughter Award, said that one of his best-selling book series of the 1980s is “The Way of the Tiger”, which will be re-branded and renamed “Arena of Death”.

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In a press release, Thomson revealed that the game book will be developed into a blockchain card game powered by VeChain.

Thomson asserted:

We were relaunching the series in the form of a computer game but this new blockchain technology, made more sense.

Imagine playingmagic gatheringBut with a real card, it really belongs to you.

Or if we say that there are only 100 prints of a card with an item or skill, you really know that there are only 100 of them.

This author wants to take advantage of the growing popularity of icons in the gaming world.

Just as many other games, such as “Gods Unchained” have been able to benefit from the use of blockchain technology.

The decision to launch the game on the VeChain protocol is mainly related to scalability and ease of development.

According to Thomson, VeChain makes digital cards and in-game items possible without having to deal with all the cryptic and complex stuff.

Tracking Solutions Offered by VeChain:

VeChain is also expanding its use to a wide range of industries thanks to its “ToolChain” system for “blockchain-as-a-service.”

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It is a solution that provides various services for any business, including supply chain management, process control as well as data filing and certification.

In August 2018, VeChain began working on drug tracking, using the technology for monitoring, security, and audits.

The idea was to help the pharmaceutical industry in China, which has been tainted by numerous scandals regarding falsely documented and illegally sold vaccines.

A report by the Chinese government-run Shenzhou News Agency revealed that in mid-November the nationwide vaccine tracking system will be announced, which is scheduled to be launched in March 2020.

According to Lian Jiangying, deputy director of the National Medical Products Administration:

The system will cover information about the entire supply chain of products of all domestic vaccine manufacturers and vaccination information from health departments.

The establishment of the national system will integrate the entire process of vaccine production, circulation and vaccination so that vaccines can be traced.

It will also make it possible to improve visibility into order status, shipment status and inventories of vaccine providers, for better oversight by the authorities.

Additionally, VeChain unveiled the first cross-continental logistics and trading solution based on blockchain for the food and beverage industry early last month.

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It will work with Foodgates to provide verification and validation information about the entire life cycle of different products.

Kevin Fang, COO of VeChain says:

The stability of the VET blockchain along with verifiable information makes it a unique solution.

Users will be able to track any product such as: beef from “choosing cows, slaughtering, packing, crossing continents, shipping all the way to restaurants.”

As the VeChain Foundation continues to expand the utility of (VET) to solve real-world issues, the price of this cryptocurrency has skyrocketed.

Over the past 36 hours, the cryptocurrency has risen more than 36% to $0.0078.

VET Coin Technical Analysis:

Investors seem to be very optimistic about the future of VeChain.

This cryptocurrency recently reached its highest point in more than five months based on “the amount of social interest.”

Up to 260 posts are posted per hour, according to data fromLunarCRUSH“.

The majority of these publications carry positive statements about VET.

This has managed to drive the upside around this cryptocurrency further, in the last two days, VET has reached 3,114 on the LunarCRUSH confidence scale.

And now, it ranks first among all other encoders in terms of performance.

The VET price position can also be viewed as a golden cross developed on the 1 day chart.

This technical formation occurred in late October between the 7, 30 and 50 day moving averages.

As the short-term moving average crossed above the long-term moving average, it indicated a bullish breakout that resulted in a massive rally of 176%.

Although VeChain recently reclaimed more than 40 percent, the 50-day moving average was able to act as a support.

Now, VET is back above the 7-day moving average, indicating that the uptrend will continue.

moving forward:

The VeChain Foundation continues to prove the true benefit of VET.

This may be the main driver behind the massive rally that VET has experienced over the past couple of months.

Although VeChain founder Sunny Lou recently stated that 99% of the value of the VET token is related to speculation, the organization is taking great strides to create value for society by developing realistic solutions, this may be the main reason why VeChain is technically making further progress.

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