According to a statement released on Friday VeChainannounced that it has partnered with UCO Network to build blockchain infrastructure for the biofuels industry.
UCO said in a press release, “UCO Network and the VeChain Foundation’s full compliance with its Environmental, Social and Governance objectives have been the decisive differentiators that contributed to the establishment of this natural and exciting partnership.”
🚨Partnership Announcement🚨 #UCOnenetwork is excited to announce it is teaming up with #VeChain $VETthe leading global sustainability-focused blockchain Foundation🙌
Find out more👇https://t.co/47snaaocm9@vechainofficial @sunshinelu24 @Bacco1977Dublin @im_dimneo
— UCO Network (@UCONetwork) September 16, 2022
Koinfinans.com As we have reported, UCO Network also stands out as the first blockchain-based biofuel platform in line with Environmental, Social and Governance objectives. European Union Renewable Energy Directive II Focusing on automatic compatibility with the company, the company offers used “edible oil traceability” solutions and produces remarkable solutions in this regard. According to the network, the platform uses a combination of Blockchain and IoT technologies. Accordingly, this also strives to reduce the risk of used cooking oil supply chain fraud.
VeChainThor will also be a Tier 1 blockchain partner of UCO Network. Network; It will use functions of multilateral payment, multitasking transaction, controllable transaction lifecycle and transaction dependency. As a result, these will make UCO Network’s layer 1 development much more user-friendly.
In addition to all this, VeChain’s PoA (Proof of Authority) consensus mechanism also addresses UCO Network’s concerns about inefficient upgrade processes and wasted energy, according to the press release.
VeChain has established several new partnerships over the past few months. This includes TruTrace, OrionOne, and Amazon Web Services. Additionally, VeChain’s ToolChain has a sponsorship with the UFC worth over $100 million.
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