VeChain THOR (VET) – The Ultimate Guide – News, and Partnerships! Must Know These BEFORE You Invest!
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As the crypto market suffers from the speculation bubble that fueled it in 2017 and early 2018, Vechain continues to add partners and legitimacy.
VeChains partnerships span continents, corporations, and even governments and this is just the beginning. VEN is much more than a Supply Chain and Logistics solution.
From partnerships with BMW, the wine industry and even the Chinese government, this is how Vechain (VET) is taking over the world one step at a time.
Keeping the World Honest
VeChain is the brainchild of Sunny Lu. a former Asian division chief information officer of the $170 billion powerhouse Louis Vuitton. the world’s most valuable luxury brand.
At Louis Vuitton, Sunny saw the rampant toll forgeries can take on a brand first hand. It’s one of the most pirated luxury brands in the world.
Based on estimates, Louis Vuitton loses about $4.6 billion in sales and hundreds of millions more in diminished brand value annually due to counterfeiting. The company also spends $17 million per year fighting fakes.
In 2015, Sunny decided to tackle global counterfeiting head-on.
He took his deep industry knowledge and his team to craft a solution that’s already gaining enormous traction. This is where Vechain steps in;
here’s a simple overview of how the VeChain solution works
VeChain provides companies with an encrypted smart chip or QR code with a unique ID.
The company embeds the chip or QR code on the product. Then, it scans the unique product ID and stores it on the blockchain.
The company can track the product during each phase of its life cycle… from origination to user.
Because the blockchain is tamper-proof, companies know the products they send or receive are authentic.
It’s a low-cost, easy-to-use solution. And companies are lining up to use it.
VeChain is a product that the company has been developing since 2015: it is a blockchain-based ledger that helps record large-scale logistics for enterprises.
With an original focus on anti-counterfeiting, Vechain has seen its blockchain idea expand to insurance, automobiles, luxury goods, and more. And it’s being used today – both with physical RFID tags the company has developed and now in part of arecently announced partnershipwith BYD to work on a carbon credit system.
Clearly, one can argue that Vechain is the blockchain platform that is about to change the world as we know it. It is offering solutions that the corporate world has been grappling with for years, and as it continues to resolve them, you can bet that its value will grow. The use-cases are just too astronomical to ignore.
Governments, cities, and multinational companies are already using VeChain’s technology. When the sun shines again on the crypto market projects like VeChain will be among the first to skyrocket higher. And that’s just the beginning.
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Source : https://www.youtube.com/watch?v=PngHnm9SXLA