What Is VeChain?

VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products and information By leveraging on blockchain technology, VeChain strives to build a trust-free and distributed business ecosystem, which is self-circulating and scalable.

Through effective collaborations, enterprises can enjoy the benefits of transparency and value flows at high-speed rates VeChain has evolved with multiple technical iterations and have amassed significant industrial experience in rolling out real-world applications since 2015. We are as strong as our portfolio of partners. VeChain intends to model these successful implementation cases as industry templates, plus the funds raised from ICO will be used to achieve rapid scalability, as we foresee more enterprises and business activities to be operating on VeChain’s platform.

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The VeChain team and the VeChain blockchain platform has been in operation for more than two years. Fortunately, having ventured into the world of Blockchain, it is not a mere buzzword or a foreign concept, we have met many passionate people who share the same goal and lots of enterprise partners who dare to explore the benefits of this new technology. Through the years, VeChain had the privilege to work with many enterprises and have accumulated plenty of experience in project implementation across various industries.

Our software development team operates in Agile, as we adapt and add more developments incrementally to serve our clients better. We are relentless in the pursuit of being the world's first blockchain company to change the world for the better. Our original vision has never been changed. The dream is still the same as before:

The VeChain Foundation (hereinafter referred to as the Foundation) is a non - profit entity established in Singapore in July 2017. The foundation will act as VeChain’s sponsor entity, it is committed to VeChain’s development, construction and governance, ensuring transparency, advocating the safety and harmonious development of open source communities.

The general blockchain community aims at a high degree of autonomy or decentralization, allowing community participants to diversify their decision-making advice and to vote on important matters. However, such behavior is inefficient or unresolved because of the diversity of participants' opinions, which is not conducive to the continuous iteration and evolution of the Blockchain technology.

Moreover, the bifurcation behavior of the blockchain is caused by the serious divergence of views. The solution of "hard forking" has made people question the idea of "de-centering" of "Ethereum” and even "Blockchain". This way of governance is not so much a "democracy" as an "anarchy." VeChain development team highly regards blockchain’s decentralizing nature, yet intends to adopt some traditional corporate governance and thus improve the efficient formulation and implementation of the VeChain development and strategy for the benefit of the community to prevent and avoid serious blockchain design philosophy differences and irreconcilability.

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The VeChain team commissioned a trusted third party organization to assist the team in setting up Foundation entities in Singapore and to maintain the day-to-day operations and reporting of the entity architecture. After establishing the Foundation, it selects the appropriate members of the community to join the functional Steering Committee of the foundation to participate in its management and decision-making.

To build a trust-free and distributed business ecosystem by enabling the flow of information and values at high-speeds through collaboration with enterprises.

There is accord in the digital currency space that digital currencies are in an air pocket. The main inquiry is, what precisely will happen when the air pocket blasted? Indeed, nobody knows without a doubt, yet an informed figure would disclose to you that in a general sense sound coins will survive, while "shitcoins" will vanish from the market.

VeChain, the world's driving blockchain-empowered item administration stage, reforms how items go through the inventory network. Utilizing blockchain innovation, VeChain makes it straightforward and secure for item makers to gather, oversee and share vital item information with sellers and buyers all through the lifecycle of an item.

Built up two years back in Singapore, VeChain's vision is to make more noteworthy market straightforwardness and furnish shoppers with access to more point by point data about the items they purchase, offer and associate with. By having an entire 360 degree perspective of the inventory network, with all segments safely recorded and put away in a sealed dispersed record, retailers and makers can be sure of the quality and legitimacy of their items, ensuring customers that what they are purchasing is truly what they think it is.

To accomplish its goal-oriented vision, VeChain has built up an effective blockchain-empowered undertaking programming stage. The VeChain stage empowers makers to allocate items with extraordinary characters, which at that point permit makers, inventory network accomplices and even customers to associate with the item through the stage. It utilizes blockchain innovation to guarantee the security of the information gathered, dispensing private keys to all members inside the inventory network.

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An item on the VeChain stage is relegated an exceptional ID, which is put away at the same time in the blockchain, and set on the item with a NFC chip, RFID tag or QR code. Anytime amid the item's life, the chip, tag or code can be associated with, regardless of whether it's a dissemination or retail accomplice finding out cluster enrollment, or a customer adapting more about an item's provenance. The organization conceives an expansive scope of utilizations, including brand security, hostile to fake, and sustenance wellbeing.

VeChain Features

Focused On A High Growth Market

Vechain (VEN) is focused on smart contracts, and wants to specialize on ICOs and DAPPs. This is one of the most practical aspect of blockchain to date, and also among the fastest growing. Therefore, as the number of ICOs increases, smart contract platform such as Vechain are guaranteed to grow.

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The other two smart contract platforms NEO and Ethereum have already gained momentum, Vechain is next. Its impressive price rise in the last few days is a good indicator of this fact.

Partnering With Major Corporations

Cryptocurrencies are yearning for real life adoption for the industry to grow. That’s why any announcement by a crypto platform that it is partnering with a corporation pushes up prices. Case in point was the IOTA rally after it announced that it was partnering with Microsoft on a project.

Now imagine how great deal it is when a digital currency platform partners with multiple major corporations, and in diverse industries. That’s a guarantee for astronomical value growth, right? Well, that’s exactly what is happening to Vechain. The platform has partnered with multiple corporations from different industries. Currently it has partnerships with companies from industries as diverse as healthcare, finance and real estate. This is a pointer to a crypto platform that has achieved what many other cryptos have been unable to achieve, and that’s the provision of solutions that people can use in day-to-day life.

Good Books of the Chinese Government

If you have been into cryptos for some time, then you know that China has been on a war path with cryptocurrencies. It started with a ban on ICOs and is currently looking to centralize cryptocurrency trading. However, there are certain coins and that seem to have found favor with the Chinese government. One of them is NEO, which is one of the reason why it has grown in value in recent months. However, on this front, Vechain seems to have bypassed all other coins, including NEO.

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It has clinched a deal with the Chinese government, something that even NEO has never managed to do. Yes, you got that right. Vechain is partnering with the Chinese government on a deal that will involve China’s tobacco monopoly. This is a company owned by the Chinese national government, which makes Vechain a pioneer in striking a deal with the second largest economy in the world. You can only guess how this affect Vechain’s price!

Getting Started With VeChain

A lot of things are happening in the world of blockchain and cryptocurrency right now, and no one can keep tabs on everything. VeChain is one of those projects which seemingly emerged out of nowhere and is now the 25th largest cryptocurrency by market cap. No one will deny that any blockchain-based project is of great interest to the world, although there are some questions as to what sets VeChain apart exactly.

It is not all that easy to come across information which describes what VeChain does exactly. According to its website, VeChain is the world’s leading blockchain platform for products and information. That is a vague statement which echoes a fair few companies in the blockchain industry right now. Leveraging the blockchain to build a trust-free and distributed business ecosystem doesn’t explain much either. It does appear the team focuses on scalable solutions, which is a positive note.

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As one would expect, most people are interested in finding out whether or not VeChain has a working product. After all, a lot of blockchain-based ventures are nothing more than a proof of concept at this stage. With VeChain, things are very different, in a good way. A total of three products have been developed using this blockchain, all of which seemingly focus on entirely different markets. It’s good to see companies explore use cases outside of the financial sector these days.

Firstly, there is an API gateway service, which is used by a Chinese company in connection with importing goods. We have seen people explore the option of using blockchain in the supply chain industry, and this seems to check some of the boxes in this regard. Additionally, VeChain is used by PricewaterhouseCoopers for “third party services”, which is another major validation of what this technology is capable of.

Last but not least, it seems VeChain also plays a part in the Liaoning Academy of Agricultural Sciences’ distributed data storage. All of these projects are pretty significant in their own way, although they may not necessarily be all that appealing to the masses. It will be interesting to see how all of this plays out in the long run, but so far, it seems VeChain is doing exactly what it advertises. Bringing the blockchain to the masses is still a very steep challenge, to say the least.

As is always the case with blockchain-based projects, one has to wonder what the future holds for VeChain. It seems the project will soon undergo a major rebranding to VeChain Thor Blockchain. This means the existing VEN tokens will be converted to VET tokens.

Moreover, there will be a proof-of-authority consensus model to ensure future developments are aligned with the vision of the VeChain Foundation. Additionally, there will be nodes and masternodes, albeit in very limited fashion. It’s an interesting turn of events which may or may not have a positive impact on this particular project.

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VeChain (soon to be VeChain Thor) prides itself on being the leading blockchain platform for products and information. VeChain began primarily as a supply chain company. However, they have recently announced plans to evolve into a DApp platform as well (more on this later). They have a mission to build “a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high speed value transferring.”

Established in Singapore in 2015, VeChain is one of the first blockchain technology companies found in the world, which means that the vast majority of the VeChain team has years of experience. This also means that they have had more time than other businesses to perfect their technology and deliver products that users truly want.

The project has been around for over two years and has already proven itself with successful blockchain implementation in various industries, including luxury goods, agriculture, logistics, food/drug, and governments.

Using the technology, you can ensure the authenticity and quality of goods, track items through a supply chain, as well as maintain the quality control of food products.

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Headquartered in Shanghai, VeChain has offices in France, Hong Kong, Singapore and other countries, allowing for global implementation of projects.

VeChain utilizes the blockchain to provide benefits for a range of industries, including luxury goods, the automotive sector, agriculture, logistics and retail. VeChain helps by addressing a specific concern associated with each particular sector while providing a solution. For example, in the liquor industry food safety is a crucial concern in trade relations where consumer health and safety are often questioned in the process of expanding trade and market access. Specifically, companies worry about how to stop counterfeiting, smuggling, unauthorized sale and how to make tracking and tracing more effective.

Let’s think about a bottle of wine. VeChain provides the solution by using the blockchain to track wine and authenticate the service by monitoring each wine bottle throughout production, transportation, importation, and distribution, which will allow you to identify any weak points in the chain, improve efficiency and more quickly respond to disruptions. Businesses can save money associated with losses due to counterfeits, while consumers can easily access information about where it was made and when and how it made its way onto the shelf in front of you.

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As another example, let’s look at the automotive industry. This industry shows an entirely different solution that VeChain can provide, although equally important. This industry is very slow to digitalize and traditional collaboration is the norm. For example, in most cases information like car maintenance records is still frequently stored via physical papers whereas VeChain could provide digital profiles for each car based on its unique ID. It then creates profile authorization depending on the stages of car ownership. In this way, all the relevant information about the particular car will be in a digital profile operated via smart contracts.

Let’s turn to agriculture for yet another useful application of VeChain technology. China’s agriculture industry is facing a series of challenges including decentralized and limited production scale, not enough product safety, low labor productivity, poor quality of products, and inappropriate use of fertiliser and pesticides causing pollution to the environment. VeChain utilizes the blockchain and its cloud services to help agriculture companies to enhance the planting method, improve the quantity and quality of the crops, decreases the impact of pesticides and fertilizers, and increase product margin.

VeChain also outlined on its website that they offer specific solutions for the retail, luxury goods, cold-chain logistics, and general logistics industries.

VeChain Thor

At the end of 2017, VeChain announced plans for a rebrand to VeChain Thor. Actually, the rebranding is scheduled to take place in February 26th, 2018. VeChain Thor is going to move the company beyond the supply chain into Enterprise DApp solutions, similar to Ethereum, which is in trying to push the company a notch higher to compete with the likes of Ethereum in terms of solving business solutions. The VeChain Thor platform will use two different tokens:

The VeChain Token (VET) is designed for companies as the smart payment currency to run business activities on the blockchain. During the transition period, the companies that hold more VET will be given higher priority and more rights on the new VeChain Thor blockchain.

On the other hand, the Thor Power (THOR) will be given to VET holders. They can use it to perform smart contracts and run applications on the blockchain. This is similar to the way NEO produces the GAS token for its holders.

A further 23% of tokens go to enterprise investors who will use the future VeChain Token (VEN) as a key development target in their business activities. An additional 12% of tokens go to the continuous operation of the system, as well as technological development to be reserved for various operating costs and development of the VeChain. 9% of tokens go to private investors who are very influential in the community, and they will help a lot in technology and business development, 10% to business implementations, and the remaining 5% to cofounders and development team (as a reward).

How To Get A VeChain Wallet?

VeChain (VEN) is one of the leading blockchain networks globally designed for information and products. It is actually one of the most promising ICO platforms for decentralized transaction in information and products. One of the greatest achievements is taking the scalability level a notch higher to 10,000 tx/s.

Due to the promising future of this crypto coin, there are a number of influential companies which have established partnerships with VeChain. These companies include: PwC, MICROSOFT, DNV GL, HYPERLEDGER, RENAULT, China Unicom, Jiangsu Printed Electronics Co. Ltd and Hubei Sanxin Cultural Media Ltd among several others. With such a huge support, this is the coin to watch in 2018.

However, you should note that VeChain (VEN) is an ERC20 token; meaning it is based on the Ethereum smart contracts mechanism. Therefore, there is a set of rules that VeChain coin has to implement; the common list of rules defined by ERC20. And again, VEN can easily function within the Ethereum network.

For you to invest in VeChain you first get a place where you can buy VeChain and then you definitely have to get a trusted wallet where you can store your VeChain coins.

Exchanges where you can buy VeChain include: Binance, Liqui, QRYPTOS, Huobi.pro, HitBTC, VNBIG, Kucoin, BigOne, Lbank and COSS.

For wallets where you can store your VeChain, below are the Best Vechain wallets:

These are mainly open source Ethereum wallets with room to also accommodate Dapps. MyEtherWallet is the most commonly used wallet since it offers great features, especially for the ERD20 tokens which VeChain is among them. The ledger wallet offers hardware wallets for a number of cryptocurrencies among them the Vechain coin, VEN.

Some of these wallets like the Trezor offer an offline private key storage location while others like MyEtherWallet and Ledger Wallet have a mobile private key location.

Moreover, all these wallets except for Parity wallet, offer cold storage. This means that the coins are normally stored in an offline location which is very important for security, especially for investors dealing with large amounts of VeChain (VEN).

However, there have been a question that has been lingering in people’s minds since VeChain announced that they are keen on working on re-branding the ecosystem so that instead of the single VEN token, there shall be two tokens namely: VeChain Toke (VET) and the Thor Power (THOR). And the question is whether these tokens still be storable in the wallets where VEN could be stored?

VeChain Resources

How To Buy VeChain?

Purchasing VeChain is easy to do through the Coinbase and KuCoin exchanges.

After you have purchased VeChain, it can be stored on the exchange itself, but for larger purchases we recommend storing coins on your own personal offline wallet.

Below are the 5 easy steps to buy VeChain (VEN) coins. The steps include 1) Signing up to Coinbase, 2) Signing up to KuCoin, 3) Transferring Bitcoin to KuCoin, 4) Purchasing VeChain, and 5) Securely storing your VeChain coins.

STEP 1: SIGN UP TO COINBASE

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The first step is to setup a Coinbase account so you can convert USD into BTC or ETH. Then you need to transfer your BTC to the KuCoin exchange where VeChain can be purchased.

Once the BTC is in your KuCoin account, you will be able to buy VeChain.

STEP 2: SIGN UP TO KUCOIN

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Next you need to signup to KuCoin, the exchange which VeChain can be purchased on. Once Bitcoin is transferred from your Coinbase account to the KuCoin exchange, you are ready to buy VeChain.

STEP 3: TRANSFER BITCOIN TO YOUR KUCOIN ACCOUNT

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To transfer Bitcoin into your KuCoin account, log into KuCoin and click on “Assets” on the top menu.

Scroll down the list of coins until you find Bitcoin (BTC) and click “Deposit.”

Copy the address.

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Now go back to Coinbase > click Accounts > select BTC Wallet > click Send > select the amount you want to transfer to KuCoin > paste the unique address your previously copied from your KuCoin account and click Continue.

STEP 4: PURCHASE VECHAIN COINS

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Now that you have BTC in your KuCoin account, it's time to buy VeChain.

In KuCoin, click on “Markets” on the top header menu then insert “VEN” in the search field and select “VEN/BTC“(you have to be logged in).

Next, insert the amount of VeChain you would like to purchase and click “Buy.”

Congrats, you now own VeChain!

STEP 5: STORE ON A SECURE WALLET

You can keep your VeChain coins on KuCoin, but an offline wallet is recommended for larger purchases.

We recommend Trezor and Ledger wallets.

It’s definitely the safest and best option. Everything is offline. It doesn’t cover everything but it’s very good.

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Latest VeChain News

Statement by VeChain Foundation Regarding FUSION Project

Recently, the VeChain Foundation was informed by some of our community members that the Project called FUSION has been claiming that they are related to the VeChain Foundation, which is causing a lot confusion. Therefore, we feel it is imperative to make it clear that the VeChain Foundation including all VeChain team members are in no way associated with the FUSION project or its team members in any form such as investment, partnership, collaboration.

The VeChain project was started and always been led and operated by Sunny Lu. The VeChain project was then spun off legally and operationally and ran by the VeChain Foundation which then selected Sunny Lu as the General Secretary to continue leading the project. The current VeChain project development plan and the VeChain community was single-handedly created by VeChain Foundation team, lead by Sunny Lu. We DO NOT allow the FUSION project or its founder DJ Qian to use the name of VeChain in any of its marketing or token sale.

Since Sunny took the General Secretary role of the VeChain Foundation, we brought on PwC and DNV GL as strategic partners to help transition its currently functioning blockchain with paid customers into a public blockchain platform for qualified dApps.

We want to reiterate that the VeChain Foundation is committed to promoting the transparency in the project development, governance, community development. Under the guidance of our strategic partners, we always take transparency, legal and regulatory compliance as the first priority. Please DO NOT rely on the information on any channels other than the following:

VeChain website: www.vechain.com

VeChain official twitter: @vechainofficial

VeChain weibo: @唯链基金会_VeChainFoundation

VeChain official wechat account: 唯链VeChainFoundation

Please always check the official channels for the latest updates. If you find any suspicious information that claims to be related to the VeChain project. Please send email to [email protected]

Thanks for your continuous support for the VeChain project !

VeChain Foundation