In a recent tweet, Collin Brown, a prominent blockchain researcher, highlighted the pioneering role of blockchain-based firm VeChain in the rapidly growing logistics market.
VeChain Could Lead the $18 Trillion Logistics Market
In his tweet, Brown emphasized that VeChain is at the forefront of innovation in the logistics industry.
🚀 VeChain Leads the Way in $18.23 Trillion Logistics Market 🌐✨
With a market poised to reach $18.23 trillion by 2030, #VeChain is at the forefront of logistics innovation. Utilizing blockchain, smart contracts, and IoT, VeChain ensures transparency, authenticity, and… pic.twitter.com/7G33xtX9PP
— Collin Brown (@CollinBrownXRP) October 13, 2023
The researcher argued that VeChain will lead the market by using blockchain technology, smart contracts and the Internet of Things (IoT) to ensure transparency, authenticity and compliance in the supply chain.
Brown specifically noted VeChain's position in the supply chain market, which research predicts will reach a staggering $18.23 trillion by 2030.
To support his claim, Brown gave several examples of VeChain's success stories in the logistics market.
He noted that Walmart uses the platform to track fresh produce, BMW authenticates luxury cars, and DNV GL performs seafood sustainability certification.
Brown also noted that PricewaterhouseCoopers (PwC) uses VeChain to secure luxury goods.
The blockchain researcher shared his views on VeChain following a report from Precedence Research, a reputable strategic market analysis firm operating in Canada and India.
The report highlighted the potential of the logistics market. The report emphasized that the global logistics market has a value of $7.98 trillion by 2022.
According to estimates from Precedence Research, the supply chain market is expected to reach a staggering $18.23 trillion by 2030.
*This is not investment advice.
