VeChain (VET) Secures Patent for Property Rights Confirmation

• VeChain (VET) secures another US patent through NanoJClean for its latest invention, which uses blockchain-based methods to confirm property rights.
• Analysts have predicted that VET could hit $1 from the current level once it mirrors the previous market cycle.

VeChain strengthens its patent portfolio as its offshore subsidiary NanoJClean secures approval for its patent application covering “Property Right Confirmation and Transfer Methods and Systems Electronic Device and Storage Medium.” According to the document shared by VeChain holder “AprilStrawberry”, the patent approved on March 4 pertains to offsetting the existing challenges of proving property ownership.

Summary of Background and Solution

The patent application publication highlighted three main defects in the existing process of confirming, implementing, and safeguarding property ownership:

1. The long confirmation process, affecting effectiveness.
2. Difficulties in realizing and circulating rights during implementation.
3. Challenges in collecting and tracing evidence when safeguarding a right.

To address these challenges, the invention will use blockchain-based methods to confirm a property right. This includes obtaining the corresponding wallet address based on encoded information, presetting encoded information corresponding to a property, and storing the correspondence between the encoded information and the wallet address in a smart contract on a blockchain.

About a week ago, VeChain secured another patent approval for blockchain workflow node certification through NanoJClean, ensuring security and transparency in digital processes while establishing VeChain as a leading entity in enterprise blockchain solutions. This milestone demonstrates a cross-border innovation strategy while ensuring that intellectual properties created in China receive protection in the US.

In December 2024, VeChain won a patent for a Key Management System (KMA) to enhance the security of transaction information through advanced hardware.

In addition, VeChain has announced Grant 2.0 for blockchain developers building sustainable applications, awarding up to $100,000.

CEO Sunny Lu stated that blockchain technology is a foundation for fostering sustainable behavior.

VET’s Price Analysis

In light of these developments, VET has recorded an impressive 24-hour surge of 6%, moving from $0.024 to $0.027, although daily trading volume is down 25% at $75 million.

Analyst Egrag Crypto suggests that VET could surge to $2.5, with an initial move into the $0.1 level marking a potential MACRO-Bottom, possibly leading to VET hitting $1, similar to movements seen in 2020.