VeChain Gets New Patent, VET Token Can Rise?

JAKARTA VeChain (VET) is a blockchain technology platform launched in 2015. The platform is aimed at helping companies manage supply chains and connect them through Internet of Things (IoT) devices. VeChain is here to make business operations more efficient, secure, and transparent.

On December 17, 2024, VeChain obtained a new patent through its China-based subsidiary NanoJClean. This patent is related to the key management system (Key Management System or KMS) which is equipped with a hardware security module (Hardware Security Module or HSM).

Launching CryptoNews, Thursday, December 19, the system will divide the transaction keys into several small parts called sub-keys. This sub-key is then encrypted using public key technology, so that data becomes more secure. Therefore, the VeChain technology system is very useful for companies that need data management or transactions involving many parties.

Previously, VeChain also received a patent for blockchain-based temperature recording technology in October 2024. The technology will store temperature data during freight shipments, such as drugs or food, recorded and verified via blockchain. That way, product quality and safety are expected to be maintained during the delivery process.

With the achievements of these two patents, VeChain seeks to expand the use of blockchain technology in the business sector. VET tokens, which are part of the VeChain ecosystem, are expected to become increasingly popular as their technology adoption increases.

However, currently the crypto market is still under pressure. On Wednesday 18 December, the price of the VET was at US$0.053 (Rp861) per coin. Data from CoinMarketCap noted that the price of the VET fell by almost 9 percent.