VeChain (VEN) — a blockchain-based supply chain enhancement platform — announced its new collaboration with the world-renowned Oxford University. The team up comes as part of VeResearch, which is an initiative designed to assist with the technological development of VeChain’s rebranded Thor platform.
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Oxford University to Assist Development
The Mathematical Institute at Oxford University will contribute to the mathematical proofs and mathematical models inherent to VeChain’s future operations. The partnership announcement was noted during a streamed event.
The Institute is the supply chain play’s second academic partner, the first being Michigan State University. Earlier this year, the project and MSU signed a partnership to similarly develop its ecosystem further.
Peter Zhou, VeChain’s Chief Scientist, stated:
“VeChain always seeks top academic partners. Oxford is no doubt the top of the top. My personal take is blockchain technology had been developed over the years among more and more computer genius and professionals, however, we see very few people from academies emerge into this space over the past few years.”
The researchers at Oxford will work on designing a proof for scaling the Thor ecosystem, VeChain’s new rebrand. In addition to that, the research team will also work on smart contract proofs and designs. However, as per the partnership, the developed intellectual property will remain the property of VeChain.
VeChain Rebrands, Partners with BMW
On March 1st, 2018, the VeChain THOR (VET) rebrand was formally enacted. Besides that and the collaboration with Oxford University, project CEO Sunny Lu also notably announced a partnership with German car manufacturer BMW.
The aforementioned Zhou asserted:
“We believe the innovation of the blockchain can see huge improvements with involvement from research from the top academies, such as Oxford, Cambridge, U.C. Berkeley, MIT, Stanford, etc. This is one of the directions VeChain is trying to push forward, while VeChain is happy to demonstrate our commercial landing ability to these top academies we are also attracting them to be devoted human capital, time and other resources into this technology.”
Moreover, recently the South Korean exchange Coinnest also listed VeChain Thor tokens. The tokens had done very well since December last year. And with major partnerships with powerhouses like BMW and Oxford University, the project appears set to continue a strong performance in 2018.
Will VET be able to continue the flow of growth throughout the year? Let us know your views in the comments section below.
Images via Engadget, Tech Advisor