A study on sustainable medicinal plant supply chains

VeChain has been cited in the latest academic research as a reputable technology used to efficiently track the journey of medicinal products from cultivation to consumption.
The study mentions the recent use of VeChain to track and authenticate wine products.

VeChain (VET) earned another mention in a high-profile academic study titled “Exploring the Blockchain Green Revolution in Medicinal Herb Supply Chains”. According to a document shared by crypto researcher Eisenreich, blockchain could be integrated into the cultivation, agriculture, conservation and propagation of medicinal plants and organic farming to provide transformative solutions to address important challenges in the industry.

VeChain was featured in a recent magazine article, ‘Exploring the Green Blockchain Revolution in Medicinal Herb Supply Chains’ 🔖
Full Pdf 👇https://t.co/Wug83XBzOp#vechain $VET #Blockchain #Tech #Sustainability pic.twitter.com/jm5UK15MXu— rich in iron (@eisenreich) January 1, 2025

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Based on our document analysis, the authors sought to examine the potential of blockchain technology to drive good practice by improving supply chain traceability, promoting fair trade and verifying provenance through smart contracts. Meanwhile, the study appreciated the development of a transparent blockchain platform called HerBChain to improve the quality of medicines.

According to the document, this HerBChain platform enables the documentation of six critical stages of production and distribution of herbal products, including traditional Chinese medicine institutions, manufacturers, laboratories, distributors and retailers. Fascinatingly, distributors and merchants are indicated to be using VeChain chips to authenticate products.

Meanwhile, VeChain has been used in a variety of industries, with use cases spanning various fields, including tracking and authenticating wine products. In the medicinal plants sector, VeChain could enable customers to track the journey of medicinal products from cultivation to consumption. In addition, consumers can effectively verify that the product is legal and handled with care.

The study also cited a recent partnership between IBM Food Trust and Walmart to create a blockchain-based food tracking system.

Initially focused on food products, this platform demonstrates the potential of similar initiatives in the medicinal plant sector and ensures transparency and quality assurance.

A few weeks before this recognition, VeChain secured another US patent through NanoJClean subsidiary operating in China. According to our research, this patent related to an advanced method for “separation and recovery of a key, software product, storage media and system.”

Vechain (VET) price analysis

In response, VeChain’s native token, VET, recorded 11% rise on its 24-hour price chart after trading below a key resistance level for some time. At press time the asset was trading at $0.04813 as it prints a negative return of 27% on your monthly price chart.

According to the EGRAG CRYPTO analyst, this asset could soon explode and reach $1. In his previous thesis, EGRAG CRYPTO pointed out that VET is entering wave 3 of the Elliott wave structure, signaling an upcoming rise. He also revealed that the asset showed that the previous cycle clone technique reached $1.6.

I applied the cloning technique to the blue arrow pattern of the previous cycle, and the current price suggests that VET may be preparing for some exciting moves…VET Triple Bottom: Clone Pattern ($1.6). I applied the clone technique to the blue arrow pattern of the previous cycle and the current price suggests that VET may be preparing for some exciting moves. The pattern shows a potential rise to 0.115c.