Supply chain-focused blockchain project VeChain (VET) will deliver keynote at the World Artificial Intelligence Conference (WAIC) 2020 organized by the Shanghai Municipal People’s Government from July 9-11.
Conference to Be Attended by Tech Juggernauts
VeChain (VET) is a Singapore-based distributed ledger technology (DLT) project aiming to leverage the benefits of blockchain to eliminate the pain points in the existing global supply chain infrastructure.
According to an announcement made on July 3, VeChain will be opening the first blockchain technology session at the WAIC with its session called “blockchainize the future, power the economy.”
The conference will be co-hosted by the Shanghai Municipal Commission of Economy and Informatization, Shanghai Finance Information Association, and various other large enterprises and organizations.
Some of the tech heavyweights primed to attend this year’s WAIC include Microsoft, Amazon, Alibaba, Tencent, and Huawei, among others.
VeChain Looking to Make Itself Heard on the Grand Stage
That China has been deepening its feet in the blockchain space is no secret. Earlier this year in April, China’s National Development and Reform Commission (NDRC) – the cabinet-level department that develops strategies for the direction of the Chinese economy – included blockchain technology in its definition of “new infrastructure.”
The Chinese investment in the aforementioned new infrastructure is expected to account for approximately 7% to 12% of all infrastructure spending. According to an estimate by the China International Capital Corporation (CICC), the investment in new infrastructure is expected to be in the range of 1-1.8 trillion yuan ( 1 trillion yuan equals approx. $141 billion).
Given the high-profile nature of the conference and the upcoming blockchain boom in China, VeChain would want to make the most of the opportunity presented to them. The announcement reads in part:
“VeChain will capitalize on this massive opportunity to pitch and share our experience and solutions to all stakeholders attending the conference. We are confident that our reputation and experience in solving pain points in the business world will convince even more partners to come onboard and expand our networking opportunities.”
Bottom line, the conference is a welcome opportunity for VeChain to make itself in the flourishing Chinese blockchain ecosystem. The project has already created a considerable din in the Chinese DLT industry by inking with companies across .
The WAIC could catapult VeChain into the next level, possibly helping it on-board more coveted clients and partners.