VeChain Joins INATBA’s AI & Blockchain Task Force, Paving the Way for a Secure Future with Prominent Organizations

VeChain (VET) has been selected as one of the distinguished organizations to participate in a task force dedicated to the integration of artificial intelligence (AI) and blockchain technology. The task force aims to address the challenges associated with this convergence while exploring the boundless opportunities it presents. VeChain joins more than 10 respected organizations and institutions in this 11-month program, which will run from February to December 2024. The participants include AML Incubator, Caisse de Dépôts, European Commission, Fraunhofer Society, Fujitsu, HTW Berlin, Kunfud, Lexia Avvocati, Quinnipiac School of Business, Republic of Slovenia Ministry of Economic Development and Technology, thebrainbehind, thinkBLOCKtank, United Nations Joint Staff Pension Fund, Universidad Rey Juan Carlos, Universita Di Pavia, Cheqd, University of West Attica, Validvent, Vechain, and the World Trade Organization. The task force’s agenda includes producing a comprehensive report, formulating a position statement, developing strategies and policy recommendations, showcasing real-world use cases, and hosting webinars and events.
The integration of AI and blockchain technology has been widely praised as a significant innovation in the current landscape. This combination enhances data privacy and transparency while unlocking numerous opportunities. The task force has been entrusted with optimizing understanding and improving ethical standards to ensure the responsible use of these transformative technologies. By generating strategic insights and actionable recommendations, the task force aims to strengthen integration, enhance security, and advocate for ethical deployment. Positioned as a leader in this complex field, the AI & Blockchain Convergences Task Force promotes understanding, ethical standards, and visionary innovation.
It is worth noting that the International Association for Trusted Blockchain Applications (INATBA) was established in 2019 by the European Commission to promote the adoption of blockchain and distributed ledger technology (DLT) in Europe. Since its inception, INATBA has made significant contributions to the regulatory framework and policy-making, including initiatives such as Markets in Crypto Asset Regulation (MICA), Transfer of Funds Regulation (TFOR), electronic Identification, Authentication and Trust Services (eIDAS), CHAISE Project, EU Pact for Skills, Academic & Governmental Advisory Bodies, and a diverse global community of industry professionals.
Following the announcement of VeChain’s participation in the task force, the price of VET experienced a 3.6% increase. At the time of writing, VET was trading at $0.048971, with the market exhibiting an equal balance between buyers and sellers. Crypto analyst Egrag Crypto predicts that VET could see a substantial gain of 40X or 50X in the near future. Drawing on historical data, Egrag suggests that VeChain could replicate the remarkable 5,892% surge witnessed in 2019, potentially propelling the asset to $0.9. The analyst also speculates that VET could surge by 140X if it replicates the 2021 movement, which saw a price increase of 14,638%.
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