VeChain Thor bags partnership with Japan’s NTT Docomo amid dropping trading volumes

VeChain trading volume has been dropping in the last few days. For instance, since August 3 the trading volume has declined 57.3% to $19,746,000. The declines are also reflected in market capitalization which has dropped from $834 million to $736 million in the same period. VET/USD is currently trading at $0.0132 while according to the CoinMarketCap; it is up 0.21% in the last 24 hours.

VeChain Thor (VET) recently rebranded itself from VeChain (VEN) after launching its mainnet. The new website details that “VeChain is a leading global enterprise level public blockchain platform.” It “aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model as well as advanced IoT integration, and pioneers in real-world applications.”

In the latest news, VeChain Thor has entered into a partnership with the leading mobile phone company in Japan, NTT Docomo. The company was incepted in 1991 by Nippon Telegraph and Telephone as a mobile phone business in the country. The Japanese government has shares in NTT, while NTT owns the majority of the shares in Docomo. Currently, the company boasts of having over 76.3 million subscribers.

NTT Docomo is planning to upgrade its service to 5G (a high-speed network) before 2020 and the partnership with VeChain Thor will play a significant role in achieving the goal.

“Our goal is to enhance and enrich our current data services capacity within traceability, supply chain management, and smartphones for our users. With our ongoing effort to bring traceability use cases in Japan into our ecosystem, the 5G program will bring additional value to VeChain’s presence in the region”.

VeChain Thor is the 21^st largest cryptocurrency project in the market. It has grown rapidly over the years since it was launched as VeChain in November 2016. It achieved a ground-breaking milestone my becoming a partner with the Chinese government via the regional government of Guiyang. It became a part of PricewaterhouseCoopers (PWC) incubation program last year in May. And exactly a year from then, PWC purchased a stake in the cryptocurrency company. Other strategic partnerships include BMW and the Oxford University.