VeChain’s Founder, Sunny Lu, has revealed his vision for the protocol, emphasizing its commitment to sustainability and incentivizing positive behavior. Lu believes that in the future, billions of users will adopt VeChain’s solution, driven by the integration of incentives.
In an exclusive interview with Ajwritescrypto on YouTube, Lu highlights the importance of creating a platform where individuals are rewarded for embracing sustainable practices. He sees this as not only beneficial but also morally imperative for the future. Lu shares the success of a sustainability campaign conducted by VeChain, where participants were given NFTs as rewards for documenting their positive actions.
The challenge encouraged community members to record their positive behavior, resulting in over 2,400 people participating. As a collective effort, this led to significant reductions in carbon dioxide emissions and water consumption. Lu believes that these small actions, when combined, can have a substantial impact.
Lu reveals that the recent launch of VeBetterDAO aims to reward individuals for sustainable behavior, rather than imposing additional charges. He believes that charging higher fees for using sustainable alternatives is the wrong approach as it hinders adoption. Drawing on the experiences of major companies like BMW and Walmart, Lu believes that the lessons learned from the global supply chain can be applied to building a sustainable enterprise.
VeChain’s approach to promoting sustainable practices involves incentivizing even minor actions, such as using reusable coffee cups or choosing electric vehicles. Lu explains that VeBetterDAO focuses on iterations, snowball campaigns, and X2earn, which incentivizes users through rewards. He hints at the upcoming launch of four hackathons this year, with a focus on integrating non-crypto users into the network.
Lu envisions VeBetterDAO evolving over time to incorporate additional functionalities, drawing inspiration from successful platforms like WeChat. While he acknowledges the challenges of bringing more utility to the blockchain, he remains determined to overcome them due to the overall benefits and enormous potential they offer.
Lu cites a BCG report that estimates the sustainability sector will be worth $26 trillion by 2030, with a significant portion dedicated to the reproduction, renovation, or recycling of clothes, computers, and transportation. He envisions a future where billions of individuals incorporate VeChain’s products into their daily lives, engaging in sustainable actions and being rewarded for their contributions.
Despite challenges and negative perceptions surrounding crypto and blockchain, Lu remains optimistic about the future. He draws parallels between people’s initial perception of crypto and the internet, believing that with time and education, perceptions will shift, allowing the true potential of blockchain technology to be realized in promoting positive change and sustainability.
Analysts predict that the growing adoption of the VeChain model will drive its price on a bullish trajectory. At present, VET is down by 5.69% in the past 24 hours, with a market capitalization of $3,163,567,027, according to data from Marketcap.