Vechain Technology has gone ahead and formed an exclusive collaboration with Frac, which is an absolute top-of-the-line platform in terms of the valuable fractional asset trading market.
As per a Vechain forecast, through this collaboration, the platform will be witnessing improved safety features, as well as better-established verification. Frac, on its part, is involved in the fractionalization of high-end real-time assets. This is inclusive of items like wines, as well as whiskey, precious stones, luxury cars, and a whole lot of other goods. The initial phase is to mint them in the form of NFTs, followed by the building of fungible units for every asset with which it is possible to carry out activities related to trading on the decentralized trading platform of Frac.
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The solutions that come with Vechain Technology help to work on the safety aspects related to Frac’s platform through the integration of NFC chips. These are responsible for certifying the genuineness of the products that will be involved in trading. Frac, which is basically created on the Helium blockchain, is known to utilize the network for certifying GPS data, as well as making sure of assets’ location-related facts. Vechain Technology is working closely with Helium in order to come out with an all-inclusive solution in terms of the trust that is related to the fractional asset trading market.
One of the main concerns regarding fractional asset trading is the factor of genuineness in terms of the assets. For this, Frac uses phygitalization with the help of the NFC chips and builds a duplicate digital version of the concerned assets. With the listing of the assets on the blockchain, Frac is able to set up an unchangeable record regarding their genuineness. For this, VeChain Technology’s anti-tamper options come into use. Traders are left satisfied that the assets have not been fiddled with or exchanged. In this scenario, Frac goes the extra mile by taking the help of an IoT/GPS live stream dashboard which has been boosted by Helium. The amalgamation of these blockchains helps in creating an entirely safe and trustful scenario.
Where Frac is concerned, it is an NFT framework project that is situated in Singapore and is involved with high-end assets. It then fractionalizes them for building fungible tokens that can be traded.
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Vechain Technology, on the other hand, is a BaaS service provider, and its main focus is on bespoke NFC chips, along with very effective blockchain tools, an example of which is the Vechain ToolChain.
