Thursday, June 17, 2021

Sunny Lu to Mark Cuban: VeChain (VET) Transforms Technology Value into Business Value

Sunny Lu, the CEO of VeChain (VET), has stated that transforming technology value into business value is the mission of the leading enterprise blockchain platform.

Lu made this remark some minutes ago in response to the series of tweets shared by Mark Cuban, the billionaire owner of the popular basketball team, Dallas Mavericks, in relation to the growth of cryptocurrencies in the nascent industry.

Read Also: Mark Cuban Explains Why He Thinks Ethereum (ETH) Price Has a Chance to Blow up Even Bigger

In the series of tweets, Cuban described the necessity of users for each crypto platform. He stated that having more transactions per second (TPS) and lower gas fees is not enough, adding that crypto projects have to create demand for people to use their products.

Mark Cuban noted:

“Crypto and each implementation is evolving in real time from “what is the potential utility” to “What is the current utility and how many users does it have”. Tokens/Coin prices are now less a bet on the future and more a reflection of real demand.

“Crypto is a product driven business. Each platform has to create demand for it’s products/applications that outperform the non crypto equivalents. Like any business, it needs customers, sales and profits.”

Read Also: Charles Hoskinson Engages Billionaire Mark Cuban Who Asked about Cardano (ADA) Use Cases

VeChain (VET) Transforms Technology Value into Business Value

As expected, the tweet gained vast responses from cryptocurrency community members. The CEO of VeChain (VET), Sunny Lu, also seized the opportunity to share the vision of the leading enterprise blockchain platform with the crypto-friendly billionaire, Mark Cuban.

In response to the tweets, Lu concurred with Cuban’s opinion, stating that VeChain’s mission is related to merging values in both technology and business, such as many other builders across the world.

Sunny Lu tweeted, “True. Transforming technology value to be business value is the mission of VeChain along with many builders in the world!”

Read Also: Sunny Lu: DNV and PWC Customers Will First Consider VeChain If They Want To Use Blockchain

Meanwhile, Sunny Lu has reiterated the capability of blockchains, especially VeChain, in the quest to decarbonize the world and realize a carbon-neutral environment.

This goes in line with the controversial topic in relation to Bitcoin’s carbon footprint, which was initiated by Elon Musk, the CEO of Tesla, about two days ago.

According to Sunny Lu, blockchain and VeChain can bring a significant change to the decarbonization sector, adding that vital change can emerge through digitizing individual’s effort to sustainability.


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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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