VeChain announces super important to elections to decide about the bright future for VET and the community

  • One of VeChain’s planned initiatives is the decentralization of the VeChainThor governance core model, and the first step to achieving this goal is to elect the Steering Committee board members.
  • As the first public blockchain that drives the deployment of sustainable applications, the VeChainThor empowers the real-world economy to utilize web3 technology and enable true digital sustainability.

In a recent tweet, the VeChain foundation’s official Twitter account revealed it would organize an ask-me-anything (AMA) session soon as the 2023 Steering Committee elections draw closer. Hence, the foundation wants the VeChain community members to submit their questions for any candidates.

Accomplishments despite harsh conditions

In the last few years, some unprecedented events have affected and continue to affect global economies. Such events include the COVID-19 pandemic, rising inflation, economic meltdown, supply chain disruption, and geopolitical turmoil across Europe. However, the VeChain foundation remained resilient despite these unwanted events.

Also Read: VeChain: Hundreds of billion-$-companies use VeCarbon to manage carbon emissions for a sustainable future

During this period, VeChain has launched several new tools and technologies and has made several new partnerships, with more planned in the near term. Also, its treasury has reached a valuation of $400 million. Furthermore, VeChain launched a new corporate image and sustainability goals during this period.

Meanwhile, it continues to expand its physical locations across Europe, with the latest additions in Ireland and San Marino. Other accomplishments of the blockchain include a sharp increase in the number of foundation developers, the PoA2.0 upgrade, and the implementation of the Finality gadget.

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Nevertheless, the foundation isn’t resting on its achievements. It plans to launch more digital sustainability programs, which aligns with its goal of promoting broader adoption of blockchain technology. One of VeChain’s planned initiatives is decentralizing the VeChainthor governance core model.

Accordingly, the first step to achieving this goal is to elect the Steering Committee board members.

Decentralization of VeChainthor governance model

According to the VeChain whitepaper, the Steering Committee board will oversee the operations of the VeChain foundation, and the decisions of the board members are crucial to the operations and strategies of the VeChain foundation. The VeChain community stakeholders vote to select members of this committee.

According to a medium post by VeChain, the Steering Committee members will guide and propose strategies to the VeChain foundation on how the foundation can achieve its core objectives, such as enabling Web2 firms to leverage blockchain technology to achieve their sustainability goals. Also, the committee would be involved in the decisions that lead to accomplishing these goals.

As the first public blockchain that drives the deployment of sustainable applications, the VeChainthor empowers the real-world economy to utilize web3 technology and enable true digital sustainability through its current and future projects, technologies, and tools. Hence, the committee member must be experienced professionals with the requisite knowledge to accomplish these objectives.

Related: VeChain: Trillion dollar industries and companies will be disrupted by VET’ like Walmart, BMW and Microsoft

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The medium blog post also shares details of how interested VeChain community members can apply to become Steering Committee board members. The post also explained the scrutinization process for each candidate before they become candidates for election. The post didn’t specify whether there would be an independent electoral body for the election process.

Meanwhile, our data shows that the news has positively impacted the price of the network’s native token (VET). VET is up 0.5 percent in the last 24 hours and trades at $0.0201.

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