VeChain

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<ul> 
 <li>Months after we reported on the approval of VeChain’s Carbon Trading Patent application, a new petition for a mobile automated inventory container bin and system has also been approved.&nbsp;</li> 
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<ul> 
 <li>According to the document, this invention would address the challenges of inaccuracies that come with the manual process of counting items and recording them in a ledger.&nbsp;</li> 
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A new patent for a mobile automated inventory container bin and system powered by the <a href="https://www.crypto-news-flash.com/vechainthors-dual-token-innovative-approach-vet-stores-value-vtho-fuels-transactions-heres-how-it-works/" target="_blank" rel="noopener">VeChainThor blockchain</a> has been scored by supply chain management giant, <a href="https://www.crypto-news-flash.com/what-is-vechain-vet-blockchain-as-a-service/" target="_blank" rel="noopener">VeChain (VET)</a>, underscoring its commitment to offsetting the challenges of inventory control and tracking for companies.&nbsp; 
<a href="https://twitter.com/hashtag/VeChain?src=hash&amp;ref_src=twsrc%5Etfw">#VeChain</a> scored a new patent on July 2, 2024, for a mobile automated inventory container bin system powered by the VeChain Thor blockchain. Innovation is ramping up with Sunny Lu and the whole team! <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"> Read more: <a href="https://t.co/3Kv5XDlMQx">https://t.co/3Kv5XDlMQx</a> <a href="https://t.co/n9PopbSasx">pic.twitter.com/n9PopbSasx</a>— Collin Brown (@CollinBrownXRP) <a href="https://twitter.com/CollinBrownXRP/status/1809469798889271553?ref_src=twsrc%5Etfw">July 6, 2024</a> 
In the background section of the invention as captured in the <a href="https://ppubs.uspto.gov/dirsearch-public/print/downloadPdf/12026661" target="_blank" rel="nofollow noopener">petition</a>, VeChain pointed out the existing gap within the manual process of counting items and inputting the information onto a ledger. According to the report, this is mostly labor-intensive and results in inaccuracies as items used or removed are usually not indicated. 
 Some systems have been introduced to use barcodes that are not affixed by the items to be scanned by a hand-held scanner. Unfortunately, this initiative also fails to locate unscanned items removed and placed in different locations.&nbsp; 
To address this, the invention at the center of the patent has been equipped by VeChain with a method and system that would dynamically monitor the location of items placed in movable containers or bins. The proposed invention would also provide a system or method to automatically track items from storage location to container or bin.&nbsp; 
<h3 id="more-discovery-on-the-latest-patent-by-vechain">More Discovery on the Latest Patent by VeChain</h3> 
Our review of the mobile automated inventory container bin and system patent also shows that the invention could track the container itself to monitor its movement through the entire life cycle of the product. Most importantly, the system has been designed to adapt to the invention count system that is used to supply travel-related events such as airplanes and buses.&nbsp; 
An excerpt of the document reads: 
<blockquote>
 In one configuration, a primary container may be provided with a wireless device that could utilise or read RFID and or NFC with asset tracking and an authentic tag. When tagged items are placed within or removed from the primary container, the wireless device would automatically read or inventory the items. A secondary container may also include a wireless device and further include an embedded antenna to boost the signal of tagged items placed within or removed from the secondary container.
</blockquote> 
Over the years, VeChain has developed several use cases across different fields with some of its real-world applications centered on supply chain management, counterfeit prevention, agriculture, and the automotive industry. In the future, its potential is predicted to extend beyond the current use cases for maximum benefit in the healthcare industry, logistics, and smart cities.&nbsp; 
Its effort towards other areas including environmental efficiency is evident in its recent approval of the Carbon Trading Patent application by the U.S. federal agency Patent and Trademark Office (USPTO). <a href="https://www.crypto-news-flash.com/vechains-sustainability-efforts-new-patent-offers-solutions-for-carbon-emission-challenges/" target="_blank" rel="noopener">As reported by Crypto News Flash</a>, the earlier petition was focused on registering methods, devices, blockchain nodes, as well as systems for carbon recording and trading. Interestingly, its VeChainThor also achieved a historic milestone, recording a low carbon footprint of 4.46 t CO2e/year in 2022.&nbsp; 
Contrary to the sustainability and supply chain advancement, the native token of VeChain, VET, has struggled to break out from its extensive bearish formation as it declined by 12.6% in the last seven days to trade at $0.0239.&nbsp; 

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VeChain Secures Patent for Mobile Inventory System on Blockchain

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