Vechain – The Ethereum for Business (China)
Vechain (VET)/(VEN) is a dapp (decentralized Application) platform built on Ethereum that aims to integrate various technologies with Blockchain. This includes the Internet of Things and RFID on luxury items, agricultural goods and logistics among many other things. Its address is listed at 7 Straits View, Marina One East Tower, #05-01, Singapore, 018936. Vechain brands itself as the “Ethereum for business”.
It claims to focus on “Building a trust-free and distributed business ecosystem to enable transparent information flow, efficient collaboration, and high speed value transferring. (VeChain is much more than anti-counterfeiting)”
It has successfully launched its ICO on August 18, 2017 and concluded it on August 31, 2017. At ICO launch it is priced at $0.08 per token and has since increased by $2.66 as of April 2, 2018. This is a staggering 3,225%.*
It is heavily promoted on Youtube by Hong Kong based Michael Gu of Boxmining and others.
The emergence of East Asia based blockchain platforms that are based on Ethereum is an interesting development. Vechain seems to be another one as it has embarked on a partnership with a prospective smart city that China wants to put up in Gui’an New Area, in the province of Guizhou. Just like NEO, this China based Blockchain startup could be banking on the East Asian giant’s drive for putting up insta-smart cities in its territory.
This strategy of partnering with Chinese local governments and smart cities under development make the prospects for Vechain very interesting. These new Chinese smart cities are flush with development money and government support. Gui’an has already been billed as the Chinese Big Data Valley. Companies such as Foxconn and Tencent are setting up shop over there.
We can say that one of Vechain’s strongest suit is market penetration in emerging markets.
Credits and Sources
- Vechain Token. Etherscan.io.
- Lectures 6
- Quizzes 1
- Duration 3 hours
- Skill level All levels
- Language English
- Students 307
- Assessments Yes
Vechain Use Case