VeChain (VET) has been selected as one of the participants in a task force dedicated to integrating artificial intelligence (AI) and blockchain technology. This prestigious group, consisting of over 10 renowned organizations and institutions, including the European Commission and the United Nations Joint Staff Pension Fund, will collaborate to produce a comprehensive report, develop strategies and policy recommendations, and showcase real-world use cases of AI and blockchain integration. The task force, which will operate from February to December 2024, aims to address the challenges and explore the limitless opportunities presented by the convergence of AI and blockchain.
The integration of AI and blockchain has been hailed as a groundbreaking innovation, offering improved data privacy, transparency, and numerous opportunities. To ensure the ethical and responsible use of these technologies, the task force will focus on enhancing understanding and establishing ethical standards. By generating strategic insights and actionable recommendations, the task force aims to promote integration, strengthen security, and advocate for the ethical deployment of AI and blockchain.
It is worth noting that the International Association for Trusted Blockchain Applications (INATBA), which launched in 2019, has played a crucial role in advocating for blockchain and distributed ledger technology (DLT) adoption in Europe. Through its contributions to regulatory frameworks and policy-making initiatives, INATBA has fostered the growth and development of the blockchain industry.
In response to the announcement of VeChain’s participation in the task force, the price of VET experienced a 3.6% increase. Currently trading at $0.048971, VET’s market is characterized by equal influence from both bulls and bears. Notably, crypto analyst Egrag Crypto predicts a significant gain of 40X or 50X for VET in the near future, comparing it to the impressive surge of 5,892% recorded in 2019. If this prediction materializes, VET could potentially reach $0.9. Furthermore, Egrag Crypto suggests that VET has the potential to surge by 140X, similar to the 14,638% increase observed in 2021.
As VeChain continues to make strides in the industry, it remains an asset to watch for potential investors. The task force’s efforts to promote ethical integration and innovation in AI and blockchain further solidify VeChain’s position as a leading player in the field.
