Real-world collaborations have seen partnering companies thriving and breaking new grounds in the fintech industry.
In a bid to seek long-term sustainability, Salesforce has announced a collaboration with VeChain Blockchain for widespread adoption. The partnership has triggered a price increase for Vechain (VET).
VeChain is experiencing a market boom
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Since February a wide range of use cases as well as enterprise-level adoption has worked in favor of VeChain. The company operates a supply chain platform powered by blockchain technology, which utilizes the Internet of Things (IoT) and distributed governance technology to enhance supply chain management systems.
VET has surged by over 70% since the past two weeks after a minor retracement. Prices have surged further as investors take advantage of every retracement in prices to collect tokens at a discount.
As a result of the increasing buy pressure, the token recently reached an all-time high of $0.130, and there is an indication it may cross this level.
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Seamless data sharing
Salesforce took a strategic decision to offer seamless and open data sharing across multiple platforms. This seemed to have triggered the recent price upswing in the token.
Chief executive officer of VeChain Sunny Lu commented on the partnership, saying that it will improve VET utility exponentially.
He added that Salesforce is now making the first trial test on the VeChainThor public blockchain, adding that the company is happy about the Salesforce integration because of the size of the company.
Salesforce has millions of customers, and its valuation has crossed $100 million. The company also has experience and expertise within the industry in different areas.
However, Lu is more interested in the future capabilities of Salesforce, as it has the potential of building thousands of applications on the VeChainThor Blockchain in the future.