The impact of blockchain on everyday life may not yet be clear to many but in reality it could be the technology that actually takes society to the next level, when it comes to human rights. Take for example the recent case where BMW entered into a deal with Vechain, a deal that is aimed at putting an end to issues of child labor in the sourcing of some of its components. This is a big deal because the world has been struggling with the issue of child-labor for years, a fight that is always hampered by logistical issues in the complex global sourcing system.
On top of that, this deal is likely to open the way for an even better implementation of blockchain technology across other industries. For instance, the clothing industry has struggled with the issue of sweatshops in South East Asia. Incidences of young children being forced to work at almost no pay, while global textile corporations rake in billions are rife. While this may sound like greed on the part of these corporations, it is not always the case. Many are times when these corporations genuinely put in place measures to deal with such issues. Unfortunately corruption and weak governance systems in most third world countries make such efforts an exercise in futility. With blockchain technology and its solutions, such as those provided by Vechain, the global sourcing system is about to becomes trustless. Every product can be accounted for right from the point of sourcing up to the time it reaches the company.Unscrupulous business people who take advantage of the weak oversight systems to exploit the poor, will ultimately be eliminated by this technology.
If you are an investor in Vechain, then this deal should put a smile on your face. For starters, it is likely to open up this coin to ethical investors. There are so many people out there especially institutional investors, who have been sitting it out of the cryptomarket, for ethical reasons. However, with the news of how Vechain has the potential to bring about a fairer global sourcing and supply chain system, you can expect them to flock into this coin in large numbers. Already the value of Vechain is showing signs of a positive momentum after this deal. This is a sign that big money is coming into Vechain. For a savvy investor, this is probably the best time to get into Vechain in anticipation of more, and even bigger partnerships in the future.
Whether you are an investor looking to put some Vechain or just a human rights crusader exploring ways in which, blockchain technology can be used to improve human rights, one thing is clear. The value of Vechain to transform society is massive. With all the loopholes that exist for the exploitation of women and children across the world, this could be the tech that ensures that children get to stay in school,and help transform their societies in future, by getting them out of poverty.