Today, I want to talk about one of my favorite coins: VeChain.
I will be writing about coins I am interested in, but this is not in any way an investment advice. Do your own research before investing !
Let's the due diligence begin !
Project / Idea
The world’s leading enterprise-level blockchain solution provider
Project Details
- The business model: monitor, track, improve, manage, and audit a product and or system throughout its lifecycle.
- Vechain has an accumulated enterprise of solutions in industries such as pharmaceuticals, liquor, automotive, luxury, retail, logistics, supply-chain, and more.
- VeChain rebranded to VeThor (1 VEN = 100 VET)
- VET is likened to the fuel or the blood which supports VeChain’s distributed platform. All participants must use VET to get products and services.
- VET was the first blockchain company to create a disaster recovery plan and the first to partner with the Chinese government.
- The VeChain mainnet started at the end of Q2. At that point all (business) activity was transferred to their own chain. - - - The VeChain Thor blockchain is a twin token system consisting of the VeChainToken (VET) and VeThor token (VTHO). VeThor is generated by holding VET, similar to the way GAS is distributed among NEO holders.
- Plair, Mustangchain, and Bitocean; the first three ICO’s confirmed to launch on the VeChainThor platform.
Partnerships / Clients
Unilever, Saint Gobain, Danone, Michelin, Lesaffre, Eternal Asia, Pernod Ricard…
Competitors
WaltonChain, WABI, MODUM, SEAL, Ambrosus, OriginTrail
Applications
- The real appeal of Vechain is that they have a working product and they are solving a real-world problem, in counterfeiting
- Vechain has carved a niche in the luxury goods management solution space, but they are also branching out to: Automotive, Medical & Healthcare, Cold chain logistics, Liquor, Agriculture...
--LIQUOR: VeChain created a tracking & authentication platform for wine bottles, data of the wine at every step of the production process was stored on the blockchain.
--LUXURY GOODS: Sunny's former experience as CIO at LVMH China gave him great insights and he led the developing team to build a series of industry-specific blockchain solutions for the Luxury segment --> Already used by a French Prestigious & Luxury Brand.
--AUTO: he car has a unique ID on the VeChain platform, this digital profile contains all related data of the car and operates the digital profile via smart contracts which is very useful in the near future where insurers and financing institutions are involved --> Renault & BMW Partnerships
--RETAIL: The products now have the ability to communicate a brands' history and craftsmanship or sustainable practices which is reflected with the time-stamps of the product's history from production to the store --> BABYGHOST
AGRICULTURE: VeChain provides the solution of blockchain-enabled cloud services for the certification of environmentally friendly and organic agriculture products --> Liaoning Academy of Agricultural Sciences
--COLD-CHAIN: By installing smart sensors on the transportation vehicle, key information such as temperature, humidity even steadiness during the cold-chain logistics can be collected and recorded on the blockchain in real-time.
--LOGISTICS: Leveraging on blockchain technology, various parties in the logistics cycles can access information on a transparent and immutable yet very secure platform with a private key --> Partnership with A Global Logistics Service Provider
Team
- Sunny Lu: CEO at Vechain, was the former CIO/CTO for Louis Vuitton for over 5 years.
- CFO & COO at Vechain were senior managers at PwC
Roadmap
- MainNet was released on 30th June 2018
- Q4 2018: VeChain Crosschain, Sidechain Technology
Critics
Competition
Rating
Ranked 18th on CMC
Check Out my Other Crypto Reviews:
-Cardano: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-cardano-ada
-Basic Token Attention: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-basic-token-attention-bat
-Hacken: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-hacken-hkn
-QuantStamps: https://steemit.com/cryptocurrency/@adalhi/crypto-fundamental-review-quantstamp-qsp