VeChain (VET) is unique in may ways when comparing against other crypto blockchain products and development taking place as they have two fronts working at once. We have the VeChain team in Europe and we also have NanoJClean based in China working independently all on the same mission which is to grow the VeChain use cases and adoption.
I was reading an article last night about NanoJClean (Chinese Vet, but still VeChain) and the sustainability of the fashion industry. If you look up all he top fashion houses like Prada and Gucci etc they are looking and devising ways to be more sustainable through their manufacturing and sourcing processes.
This is where the world is heading as consumers are becoming more and more concerned due to the going green bashing we see weekly. I do get it, but I just don't agree with how it is being done and know carbon emissions are going to be the new business tax governments benefit from. This kicks off in Europe starting in 2025 so this is just around the corner and not years off.
The VeChain has been a leading light in the Carbon Emissions field with their work and development alongside the EU making sure they are at the front of the queue. NanoJClean has been working in China which is still VeChain even though they are run as a separate business using their own revenue to cover their running costs. This is actually quite important as you have 2 companies working and developing using the same blockchain expanding it's growth.
The article highlighted areas in the fashion industry stating some facts which obviously need to change or improve on. If you take 1 pair of jeans the numbers are quite alarming what goes into the manufacturing process. This includes fabric and cotton manufacturing to the end product hitting the store shelves.
- 3781 liters of water.
- 33.4 Kg/s of carbon or the equivalent of driving 100Km's in your car.
The fashion industry consumes 215 trillion liters of water each year and account for 20% of the waste water. The industry creates roughly 5% of the worlds green house gases currently which are expected to rise unless change takes place. Digitalizing the factory processes will help, but they need to find a solution for the water consumption.
What NanoJClean are working on is having ready made platforms on the blockchain for fashion houses to use in order to help improve sustainability through innovation. The fashion industry needs to come up with different solutions that see the production processes change reducing not only the water consumption but the carbon being omitted. No one quite knows the tax implications that will be imposed shortly and they need to change and fast in order to remain competitive.
Fashion houses will have the data at hand being able to see what various fabrics, manufacturing processes and design have on their final impact when it comes to carbon. Understanding that each process will be different is the key to finding out the solutions to reducing their overall costs.
The new generation apparently want to know more information about their clothes rom materials, recycled materials and waste. I must admit this never crossed my mind when buying clothes and never will yet this is the crazy world we live in today.
In 2020 the fashion industry signed a fashion alliance with over 200 fashion houses onboard with the aim of going greener. 80% have introduced carbon emission policies to help reduce their footprint but only a fraction know how much carbon they are creating. I suspect these fashion houses are in Europe as this is being forced on them and they need to start pulling a finger out before 2025.
I think it is a good thing if we think healthier but the results at the end of the day may be just unrealistic. How many times do we see something greener that actually is not greener at all and gives the illusion of doing good. I am not sold on all this climate nonsense as we have been hearing the same story for 40 years.
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Interesting stuff. I'm glad that I made a small investment in this token. I'd like to put some more in, but I want to keep building my stake elsewhere.
I am thinking the same right now as this one can wait a while as it is not going anywhere for a good year or so.
Will be very exciting to see how this works out. Am bullish for VEC but we will have to wait and see if they really pull all this business or at least bigger parts of it.
I think the end result is not in doubt to who they are working with (EU) and their blockchain will be forced to be used for carbon emissions. Plus the partnerships they have with PwC and the United Nations.
That's nice
I don't know if I can still invest
Can I?
VeChain is still cheap compared to its ATH.
Yes this is still dirt cheap at around 2 c each it is only going to start doing well when it sees adoption happening in 2025. We have time on this project.
It's so sad that climate change and the associated discussions around this topic are nothing new to us, yet nothing of substance has been accomplished thus far. Illusion is a great word of the progress seen by those in the corporate sector as a whole. Of course, there may be exceptions.. but at the end of the day, greed is still in control of the planet and that sux! Thanks for sharing. Good read!
They are doing very well. We have been watching them for a long time and now their targets are very good. It will be seen going up. It is because of the team effort that the project is successful and that people love to know about them and that they are putting in a lot of special effort.
Great content I wish to invest but I am actually going through some challenges.