Difference between revisions of "VeChain"

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Revision as of 16:12, 7 July 2018


VeChain Foundation
Vechain-logo.jpg
Founded 2017
Headquarters Singapore
Key People Sunny Lu, CEO
Employees Approx. 50
Products VEN, VeChain Blockchain Network
Twitter @vechainofficial
StockTwits VEN.X
LinkedIn Profile
Facebook VechainThor
Website https://www.vechain.org/
Releases [press@vechain.com Company News]
Blog https://medium.com/@vechainofficial

VeChain is a startup project for a blockchain-based decentralized application platform designed to improve shipping and manufacturing practices. It is an application that seeks to utilize various IoT devices and networks by connecting them to a single distributed ledger. It is designed so that existing businesses can integrate their payment and data management systems with the VeChain protocol.[1]

Background

VeChain's initial design was conceptualized in 2015, then launched in June 2016. An iOS version of the Vechain application was released along with the VeChain Dashboard the following September.

VeChain is planning to release VeChainThor in Q2 2018, along with the official VeChain wallet.[2][3]

Overview

VeChain is a blockchain-powered decentralized application project. Powered by its native coin, VEN, VeChain combines computer chips and blockchain technology. Using various devices, VeChain allows manufacturers to record every step of a product's production, shipping, and distribution using the transparency and immutability of a blockchain. The company developing VeChain has announced partnerships with BMW, Michigan State University, Oxford Universtiy Math, PwC Asia, and the Chinese consulting firm NRCC.[4]

VeChain's goal is to apply blockchain and IoT technology in order to improve supply-chain management for multiple industries.[5]

VeChain's VEN is also one of the only cryptocurrencies to have seen significant net growth between January and June 2018; in that time, the market cap of bitcoin and Ethereum fell by 44% and 40% respectively, while VeChain's market cap increased 28% in that time.[6]

References