VeChain releases ‘Web3 for Better’ whitepaper outlining new sustainable vision News ▸ VeChain ▸ Technology
VeChain releases ‘Web3 for Better’ whitepaper outlining new sustainable vision
VeChain wants to build a blockchain that balances economic growth, environmental care, and social welfare.
2 min read
Updated: Mar. 6, 2023 at 7:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
VeChain has released its revised whitepaper detailing a new focus on Web3 and sustainability.
Whitepaper 3.0, dubbed “Web3 for Better,” envisioned capturing Web3 technologies to create sustainable supply chains and promote ecological initiatives.
It mentions “phygital,” which is an amalgamation of the words physical and digital, describing the merger of physical and digital experiences to create “new concepts of value and new ways of collaborating.”
“In the future, everyday life will be defined by a merger between the physical and digital worlds. Web3 is a phygital environment powered by blockchain, IoT and other technologies.”
New VeChain roadmap is live
The latest VeChain whitepaper includes a roadmap for preparing the network to tackle global sustainability challenges and realize its phygital vision.
The role of third-party developers and strategic partners is critical to achieving this vision. The existing developer tools suite includes a Web3 adapter, standard openZeppelin smart contract libraries, Web3-as-services, a dApp interface, wallets and mobile SDKs, and a testnet, which already provides devs with everything needed to build on the chain.
VeChain added that it would also continue incentivizing developers through hackathons, bug bounties, grants, and accelerator programs.
“Together, we drive quick blockchain and Web3 adoption in the business world by closing the gap between business needs and technological offerings and progressively testing and learning through real world use cases.”
The roadmap runs from 2023 to Q1 2024 and is divided into three subsections, sustainable infrastructure, technology features, and sustainable ecosystems applications.
Notable roadmap entries include a DEX/DeFi, wallet browser extension, Ethereum token bridge, and an NFT marketplace.
A sustainable future
Although sustainability is typically associated with ecological matters, such as recycling and emission reductions, VeChain said sustainability is a much broader concept and encompasses balancing economic growth, environmental care, and social welfare.
“Sustainability entails granting access to essential goods and services to all people, protecting vulnerable individuals and communities, providing humane working conditions to employees, ensuring that consumer products and services are healthy and safe, and enabling the regeneration of natural resources.”
By utilizing the promise of Web3 and hitting roadmap goals, it is hoped that the chain can bring about a new era of global, accountable communities that operate sustainably.
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Samuel Wan
Samuel Wan, a finance professional turned full-time crypto content creator, values individual autonomy and personal freedom in his pursuits.
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VeChain is an enterprise-focused blockchain ecosystem that aims to enhance supply chain management by connecting blockchain technology with the real world through ‘a comprehensive governance structure, a robust economic model, and advanced IoT integration’.
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