What is VeChain?

VeChain’s vision

“Building a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high speed value transferring. (VeChain is Much more than anti-counterfeiting)”

VeChain Whitepaper

Link.

VeChain partners

• PWC
• DNV GL
• Kuehne + Nagel
• China Unicom
• Microsoft
• Chinese Government National Level Partnership
• Renault
• BMW (Strong rumor that is currently under NDA)
• And many more

Why invest in VeChain?

The interesting thing about VEN is that it was previously a subsidiary of China’s biggest blockchain company BitSe. That makes it a brother to the QTUM Foundation, Blockchain & Infrastructure. VEN is the Supply Chain Technology that will be implemented onto the blockchain. With this brings the following: Existing BitSe partners, industry connections and customers Existing QTUM partners, industry connections and investors The QTUM and VEN Partnership will become somewhat of a powerhouse team and will definitely give Waltonchain a run for its money. That isn’t to say that there isn’t space in the market for both of them though, as supply chains are monumental in scale and VEN already have offices in France, Singapore and Hong Kong and have deployed 111 nodes in 5 countries across the world (China, Korea, Japan, England & Germany).

The Technology

VeChain was designed in Q2 of 2015. Since then it has rolled out multiple smart contract templates and its VeChain smart chip, which will be used to track all products on the blockchain. The VeChain smart chip is essentially an NFC chip, RFID tracker or QR code that tracks whatever it is attached to and protects them from tampering, counterfeiting and ensures that their entire life cycle is stored securely on the blockchain. It essentially makes it easy to track, collect, and store data that otherwise had to be inputted manually with great difficulty. Not to mention, barcodes are very outdated when you look at the way in which technology is moving.

Within 5 years, we believe you’ll be able to scan a product in a store with NFC and see its entire history – who made it – what with – how it got here – and how long it took.

What’s next?

VeChain 3rd generation smart chips. BaaS (Blockchain as a Service) Cloud platform launches. More business implementation cases, new partnerships.

The use cases:

Liquor Luxury Goods Automotive Retail Transport & Cold-Chain Agriculture Logistics & Shipping As briefly discussed above, the number of problems that the above industries face due to supply chains are alarming. From food poisoning to counterfeit products and theft, these are all solved by adding a layer of accountability. By adding these VeChain smart chips, consumers are granted peace of mind and access to the entire history of the product.

Where to buy VEN?

Buy it on the Binance exchange.