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Breaking News: ‘Crypto Week’ Takes A Hit: US House Fails To Advance Key Acts

VeChain Announces The World’s First National eNFT Adoption, Why It Could Be Huge for VET

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
VeChain VET

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The VeChain Foundation and DNV Assurance have partnered with the Republic of San Marino to issue Digital COVID-19 vaccination certificates. Approved via a law on June 16th, this solution will provide its citizens with a digital certificate “in line with the European Union standards”.

The certificates will be issued via Enterprise Non-Fungible Tokens (eNFTs), a type of digital asset based on the blockchain VeChainThor. The eNFTs have designed with the purpose of leveraging blockchain technology to impact everyday life and allow companies to design products as a bundle of physical goods, enable digital products, and more.

The San Marino Digital Covid Certificate will cover vaccination against Covid-19, and whether a person has been infected in the past or has received a negative result when tested for this disease. According to the VeChain Foundation, every certificate will be valid for 1 week 15 days after the first vaccination dose.

If a person has received the second dose of the vaccine, the certificate will be valid for 9 months. Local authorities can issue the certificate according to the users’ request, on paper or digital former. The President of San Marino Innovation, Lorenzo Spadoni said:

The San Marino Digital Covid Certificate is an important tool that aligns the Republic with the technological standards used by the European Union, assuring total interoperability while also adding a ‘universal’ certification method based on blockchain technology.

How Will The VeChain Based San Marino Certificate Work?

The certificate will operate with two QR codes, said the VeChain Foundation. One created to comply with international standards approved by the EU, as Spadoni claimed. This code can only be verified by member states entities.

The second QR code will be verifiable by everyone. In order to go through this process, a persona can scan the code with “any device” with access to a web app. Therein, the certificate can be validated. The VeChain Foundation added:

This is enabled by linking to a Non-Fungible Token (NFT), i.e. a unique and non-repeatable certificate of digital authenticity guaranteeing immutability and accessibility by being registered on VeChainThor public blockchain.

As part of the infrastructure that supports this initiative, the partners built a national information system. Thus, the system supports the issuance, validation, and enables citizens to access the information directly from the national electronic health records. Sunny Lu, CEO of VeChain, said:

Not long after we brought up the idea of enterprise NFT, Digital Covid Certificate presents a perfect case in this sector, which is a also new solution to help the government gain ground in the fight against COVID-19.

The announcement has been celebrated by the Foundation and the VeChain community. One of the members called this partnership the “biggest mainstream adoption of Blockchain in recent history”. The user highlighted its importance in terms of adoption and VeChainThor’s potential to host scalable and useful applications.

https://twitter.com/BredGarlicHouse/status/1410626841379999745

At the time of writing, VET trades at $0,08 with sideways movement in the 1-hour chart. In the 7-day chart, VET records an 11.1% profit.

VeChain VET VETUSDT
VET with small losses in the daily chart. Source: VETUSDT Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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