VeChain Secures New Patent Grant In US

VeChain, a leading blockchain platform focused on supply chain management, has secured another major U.S.-approved patent.

VeChain [VET], a prominent blockchain platform centered around supply chain management, has secured another major patent approval in the United States. The patent specifically pertains to the recording of temperature data during cold chain transportation and was granted on 15 October 2024, bearing the patent number US 12,118,129 B2.

VeChain secures new patent grant in US This marks VeChain’s third patent in the last three months, obtained through its offshore subsidiary, China-based NanoJClean Technology. The latest innovation by NanoJClean is geared towards enhancing the security, authenticity, and efficiency of collecting temperature data during the transportation of goods within a cold chain. As such, it serves as a critical tool for industries such as pharmaceuticals and food safety.

The patent grants VeChain exclusive rights to a method and system for collecting and storing temperature data. As per the VeChain patent abstract, “Collecting and storing temperature data includes acquiring a starting time at a temperature recording time period and acquiring temperature data for each time stamp.”

The system compresses multiple temperature data points into a smaller storage footprint to optimize efficiency. “Multiple temperature data points may correspond to one piece of compressed data so that each piece of temperature data only occupies a small amount of storage space,” the abstract noted.

With the integration of blockchain, VeChain ensures the data’s security and prevents tampering. The patent abstract further stated, “A blockchain-based verification for the collected temperature data ensures the security and authenticity of the data collection and prevents the data from being tampered with.”

Furthermore, VeChain’s latest patent highlights its dedication to solving real-world problems through blockchain technology, the CNF report noted. The ability to compress data without compromising integrity marks a significant breakthrough.

As mentioned in the patent, “The target compressed data corresponding to the temperature recording time period is obtained by compressing the temperature data.” This enables efficient storage while maintaining accuracy for the transportation of perishable goods. The innovation addresses a key challenge in blockchain adoption for supply chains—maintaining a balance between data integrity and storage limitations.

Potential impact on VET price This latest development adds to VeChain’s growing presence within the blockchain domain. VeChain has maintained a strong focus on integrating blockchain solutions into global trade and supply chains, CNF reported.

NanoJClean Technology, the subsidiary responsible for this innovation, specializes in blockchain-enabled food traceability and has been an early contributor to VeChain’s network.

Meanwhile, VeChain’s community remained optimistic about the platform and VET’s future as the company continues to secure groundbreaking patents. A renowned market analyst, known as Egrag, recently predicted a massive price surge for the VeChain token. He anticipated a potential 4,297% increase, which could drive the VET price to $1.

However, at press time, the VET price experienced a 2.85% decrease to trade at $0.02274 on Wednesday, 23 October.