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VeChain - Big Game Player

There is a ton of projects in the crypto industry, leveraging on blockchain and making lots of money with no working project. VeChain surely is not one of them. These projects are slowly phasing out and turning investors to bag holders. VeChain is one project that investors would do well to hold on to for the long haul – a top project that already has practical use cases.

What is VeChain Foundation?

Founded in 2015 by CEO, Sunny Lu, who was the former CIO of Louis Vuitton in China, VeChain is a platform built to disrupt the entire supply chain management processes. Using the blockchain which is a transparent ledger, VeChain provides secure and immutable data storage for the entire supply chains. Business within the platform can seamlessly interact and transact with each other without any third party, while cost inefficiencies are easily solved. The supply chain data stored on the VeChain platform can be easily accessed by businesses through their private keys. Another interesting thing about VeChain is their drive for further future development. They have plans to allow dApps and ICOs on their platforms, as well as IoT (Internet of Things). This would make VeChain an all-inclusive blockchain platform providing business solutions.

Practical use case of VeChain

With VeChain, customers and retailers can easily determine the authenticity of a product with the help of a VeChain Smart Chip in the product. When it comes to luxury goods, “fake product” is one of the biggest challenges. It takes a large chunk of the revenues. The fact that VeChain solves this problem of revenue for luxury goods, and that of quality for customers, while providing all background information about the product makes it a highly needed platform.

Strong team

One of the reasons why VeChain will be massive is because they have a great team backing the project. Not only do they have the vision, but they are also capable of executing. Having crushed every milestone they have set, the project has gained some major adoptions, with the likelihood of even more massive adoptions in the pipeline. This shows the seriousness with the project, which a lot of blockchain projects are lacking.

Partnerships

While already having a working platform, VeChain has secured some high-profile partnerships that would help boost the adoption of the platform. More important is that of one of the mostly anti-crypto authorities, the Chinese government which gives them a major competitive advantage in the market. These partnerships are an indication of where this awesome project is headed. You can purchase VeChain tokens on exchanges like Binance, Huobi, Kucoin, HitBTC and some others. With all these information, VeChain (VET) is surely one project to keep an eye on.