Hot on the heels of President Xi’s blessing of blockchain technology two weeks ago, Singapore-based supply chain crypto VeChain has been given a favourable mention in a leading Chinese newspaper.

The People’s Daily, one of the most popular daily reads in China, cites the company as a “world leader” in blockchain technology.

Created in 2015, the Vechain’s mission is to provide transparency and trust in supply chain & logistics.

It’s Price has surged in the past fortnight from a low of $0.0028 to $0.0077 cents at the time of press.

This price explosion is in no doubt due to President Xi giving his blessing to blockchain technology and innovation.

The Chinese president said that China must “seize the opportunity“ of Blockchain in his yearly address to Chinese Congress two weeks ago.

The news caused Bitcoin’s value to increase by 42% in just 24 hours. It’s largest such increase since 2011 and the fourth largest in its 11 year history.

 

 

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