It’s a fresh recap on VeChain and its ecosystem!
According to VeChain CEO and co-founder Sunny Lu, “VeChain aims to provide a standardized tool for the enterprises to build and integrate blockchain technology into their business easily. Whether targeted to large organizations or small companies, or even individual business owners, VeChain ToolChain™ helps you realize your exact vision and scale your business with a reasonable cost.”
Vechain is focusing on winning partnerships and building utility.
The recent collaboration with Producers Market is aimed at fighting back and supporting vulnerable farmers in emerging markets with exporting their premium outputs. It targets Latin America and the Caribbean (LAC) agricultural farmers. A powerful transparency application StoryBird powered by VeChain ToolChain™ , the one-stop BaaS Data Platform, make it possible to bridge the gap between the manufacturers and consumers by integrating blockchain technology into the value chain. The app can collect and uploads authentic product information.
Additionally, there’s another significant project, scheduled to launch in September of this year. It’s a D2C (Direct-to-consumer) digital platform in the meat and seafood industry that will be traced by VeChain ToolChain™ from the various product origins around the Americas to consumer’s homes in the United States.
Following a press release made by VeChain, it was revealed that Sam’s Club China, a membership-only premium shopping chain owned by Walmart China has rolled out their variant of the traceability platform, Sam’s Club Blockchain Traceability Platform. Using VeChain ToolChain all stakeholders in the supply chain process will be able to upload key logistics and manufacturing data onto the immutable VeChainThor public blockchain.
Another significant partnership has been formed with one of the leading companies in the global pharmaceutical industry, Bayer China. Bayer’s G4A program and VeChain co-developed CSecure, a blockchain powered Clinical Trial Traceability Platform for drugs.It can monitor user and product data entered into the platform to ensure it is consistent throughout the trial, leading to improved safety and precision.
As a final point, the 5th episode of VeChain BootCamp was held on June 2. Read on to find the link to the video to learn more about the partnership between VeChain and Producers Market.
More news on the recent partnerships including some useful links can be found in the article.
Development
Developer activity (from Coinlib.io):
VeChain Blockchain-based Solutions
Some of VeChain’s blockchain-based solutions with real-world use cases for enterprise businesses include:
Digital Carbon Ecosystem Solution
For Companies Interested in Carbon Reduction
Consumer Confidence Index Platform
For Manufacturers of Fast Moving Consumer Goods (FMCG)
Automotive Passport Solution
For Manufacturers of Automobiles and other OEMs
Retail Solution
For Manufacturers of High-value Retail Products and FMCG
Logistics Solution
For Companies with Complex Logistics, Inventory, and Warehousing Needs
Liquefied Natural Gas Solution
For Manufacturers and Importers of Liquefied Natural Gas
Digital Content Distribution Solution
For Creators and Distributors of Digital Content
Electronic Document Deposit Solution
For Enterprises and Governments
Agriculture Solution
For Farms and Ranches
All of the above mentioned blockchain-based solutions are made possible through the VeChainThor blockchain and VeChain’s prized Blockchain-as-a-Service (BaaS) platform, ToolChain.
ToolChain offers VeChain clients a diverse range of services including product lifecycle management, supply chain process control, data deposit, data certification, and process certification. By offering these services, VeChain can increase efficiency and transparency, instill trust, and reduce costs of supply chains for enterprise businesses and governments across the globe.
VeChain Docs
Everything you need to know about VeChainThor
VeChain Whitepaper 2.0
Social encounters
Recap of VeChain BootCamp Vol.1: Sunny Lu On VeChain ToolChain™’s Role In The Path To Mass Adoption Of Blockchain Technology
The first episode of VeChain BootCamp with the topic “The Missing Part of Mass Adoption — VeChain ToolChain™ ” was successfully held on May 8th. Hosted by VeChain CEO and Co-Founder Sunny Lu, the live streaming webinar introduced the development roadmap of VeChain ToolChain™ from 1.0 to 4.0 — culminating to be the premium business ready standard tool for mass adoption in the entire blockchain industry.
The 2nd episode of the VeChainBootCamp
Watch the video below to learn more about sustainable fashion & VeChain-DNV GL’s collaboration.
The video is here: A New Era of Sustainable Fashion: My Story Enabled Sustainability Practice
The 3rd episode of VeChain BootCamp
How has COVID-19 changed what food producers are looking for? What role will the APAC Provenance Council play and how VeChain fits into the equation?
Whatch the video to find it out:
Blockchain In Food Provenance: A New Ecosystem Play in Post-Covid World
Agenda:
- VeChain as an Enabler
- Guest speaker — David Inderias, CEO of Fresh Supply Co
- Lessons Learnt in 2019
- New Strategies Post Covid-19
- APAC Provinance Council
The 4th episode of VeChain BootCamp
It was held on May 22. Dimitris Neocleous, the Ecosystem Manager at VeChain EU, joined by Christos Panayiotou, Doctor of Medicine & Digital Transformation Consultant at the Mediterranean Hospital of Cyprus, and Ferdinando Chiacchio, Product Manager at I-DANTE LTD, revealed more details on the blockchain-enabled medical data management platform, The E-NewHealthLife and the E-HCert App.
The 5th episode of VeChain BootCamp
From Soil to Sale: How VeChain ToolChain Enables Producers Market to Help D2C Food Brands
You will learn more about the partnership between VeChain and Producers Market
Follow the link to watch the video
Finance
VeChain Stats ( from https://vechainstats.com/ )
As of 5th June, 2020
VeChain’s native cryptocurrency token VET is a utility token for Vechain’s blockchain system.
VET has the following use cases:
VET is used as payment for VeChain’s products and services; meaning the more VET a person or enterprise holds, the higher priority they have when it comes to using VeChain’s resources.
VET is used to transfer value from smart contracts and is used in transactions on decentralized applications powered by VeChain’s public blockchain.
VET can be used to generate a secondary VeChain token called VeThor or Thor Power (VTHO), which provides access to VeChain’s supply chain technology.
VET is used as a trading instrument by cryptocurrency traders. VET is also used by investors as a speculative cryptocurrency investment.
All in all, VeChain’s VET token has lots of utility within the expansive VeChain ecosystem, as well as in the speculative crypto trading markets.
VeChain (VET) Token Launch and Distribution
The VeChain (VET) initial coin offering (ICO) was carried out through August to September 2017, where the project’s native cryptocurrency launched as an ERC-20 token with the ticker symbol VEN, (which was later changed to VET).
The VeChain ICO raised $20 million selling tokens at a rate of 1.0 ETH = 350000.0 VEN.
1 billion VEN tokens were initially created but ~133 million were later burned as a consequence of the initial distribution plan yielding a total supply of 867,162,634 VEN. Out of this total supply, the distribution was as follows:
410 million VEN was sold in the public ICO
90 million VEN was sold in a private sale
128.5 million VEN was sold to ‘enterprise investors’
270 million VEN were allocated to the VeChain team
Following the ICO, VeChain’s mainnet went live in August 2018 and VEN tokens were migrated to VET tokens. VEN token holders received 100 mainnet VET tokens for every 1 VEN, making VeChain’s new total supply: 86,712,634,466 VET.
Official Wallets
It is a light mobile wallet app which provides users with a powerful, secure, simple, fully functional portal of the VeChainThor blockchain.
Main functions include: VET, VTHO and other crypto assets management, X Node transfer, wallet observation, reward claim, etc.
- The VeChainThor Wallet has been undergoing a series of security testing with trusted third party security firms, including functional test, source code review, smart contract audit, session management audit, input security audit, etc.
- VeChainThor wallet provide a secure and effective environment for cryptocurrency transactions. With the function of observe wallet, users can effectively perform VET token swap/node transfer and observe the balance of your crypto assets in a cold storage wallet.
- Node program participants with required VET lock period get a chance to be node holders with VeThor rewarded in VeChainThor wallet.
- Node holder can transfer its node via Designated Transfer or Public Auction;
- Non-Node holder can accept others’ Designated Transfer or purchase a node on the Trading Market.
- you can find tons of selected DApps within wallet. These DApps built on the VeChainThor blockchain，You can use it directly in your wallet.
VeChainThor is the blockchain solution of VeChain, it is their product that is managed and governed by the VeChain Foundation. VeThor is the energy that powers the VeChainThor network. A capture, transfer, nor smart contract can be executed without the use of VeThor. This enables the blockchain to protect itself from bad actors spamming the network rendering it ineffective.
Sync is the official desktop wallet firstly supports Connex. It provides seamless experience for users and developers. Which is designed to provide the superior user experiences for VeChain Apps, and serves as the dApp environment to provide unlimited potential for developers and users.
Third Party Wallets
Contribute to the VeChain ecosystem and earn rewards!
Roadmap
The Foundation is planning to further enhance blockchain integration.
With a focus on data quality, assurance and other innovative and user-friendly business tools, VeChain will deliver next generation digital infrastructure for wide ranging applications, from UN sustainable development goals to digital verification of goods, financial services, international logistics, government/financial infrastructure and more.
VeChain plans to continue with the VET buyback scheme, enhancing, developing and securing the future of VeChainThor as a prominent public blockchain. Updates will be announced in due course.
Partnerships and team members
VeChain Enables Producers Market To Trace Agriculture Products To Support Underserved Farmers Globally
Producers Market chose to implement VeChain ToolChain™ to trace agricultural products to maintain and enhance their export competitiveness in the global marketplace. The main goal is to fight back and support vulnerable farmers in emerging markets with exporting their premium outputs.
The collaboration currently targets Latin America and the Caribbean (LAC) agricultural farmers.
More customers and end-users are looking towards digitized platforms to buy their products now.
Producers Market has chosen VeChain ToolChain™ — the one-stop BaaS Data Platform to bridge the gap between the manufacturers and consumers by integrating blockchain technology into the value chain.
Producers Market aims to empower farmers by establishing a direct market linkage facilitation to incentivize regeneration, from soil to economy to society at large with a powerful transparency application named StoryBird powered by VeChain ToolChain™. It collects and uploads authentic product information onto the VeChainThor Blockchain, which enables all stakeholders in the trade, including the farmers, processors, added-value parties, e-commerce platforms, buyers and end consumers to validate product origin and trace logistics of delivery. This enables a traceable, visible, and transparent digital marketplace for the agricultural market, which allows for agricultural producers, processors, packers, distributors, brands and other added-value stakeholders to publicly list Organization and Product profiles to access global markets.
Using StoryBird allows farmers to advertise their products through visual media such as photos and graphics, and even insert the background history of their farm. The application allows consumers to appreciate the story of the product that they have purchased and allows an unprecedented way of giving life to their product while communicating the effort directly to consumers.
The first significant project is a D2C (Direct-to-consumer) digital platform in the meat and seafood industry that will be traced by VeChain ToolChain™ from the various product origins around the Americas to consumer’s homes in the United States. The project is scheduled to launch in September of this year.
Sunny Lu, CEO and co-founder at VeChain says, “Positioned as the enabler for our partners, VeChain aims to provide a standardized tool for the enterprises to build and integrate blockchain technology into their business easily. Whether targeted to large organizations or small companies, or even individual business owners, VeChain ToolChain™ helps you realize your exact vision and scale your business with a reasonable cost.”
With the growing exports volumes of agricultural products from LAC and other regions, there is a great potential for VeChain ToolChain™ to roll out more partnerships in the future.
If you want to learn more about Producers Market visit their website
Walmart China Brings Together Sam’s Club and VeChain to Take One Step Further Towards Blockchainization With Safe Food Traceability Platform
On June 25th, 2019, Walmart China, PwC China and VeChain jointly announced the establishment of the Walmart China Blockchain Traceability Platform. Following a press release made by VeChain, it was revealed that Sam’s Club China, a membership-only premium shopping chain owned by Walmart China has rolled out their variant of the traceability platform, Sam’s Club Blockchain Traceability Platform.
Using VeChain ToolChain combined with cold-chain IoT and a variety of traditional software and hardware sensors, all stakeholders in the supply chain process will be able to upload key logistics and manufacturing data onto the immutable VeChainThor public blockchain. This allows for tamper-proof record keeping for all parties involved, while simultaneously eliminating information asymmetry from consumers. The end product will be tagged with a secured QR code, in which customers can scan using their smartphones to view the full logistical history of the product, including country of origin, packaging information, storage temperature, and various marketing information including pictures and videos.
With this platform, Sam’s Club is able to assure their members that the products they buy are trusted, safe, and genuinely sourced from their places of origin.
According to Sunny Lu, Co-Founder of VeChain, “A combination of a standardized yet customizable platform is the key to break down the barrier of adoption for blockchain.
With Sam’s Club adopting VeChain’s technology, the VeChain Foundation yet again leads the pack in terms of public blockchain adoption in the industry.
Unlike its positioning in the USA, Sam’s Club in China had been repositioned into a chain of high-end, membership-only shopping clubs. Sam’s Club currently runs 26 outlets in China, and is looking to have 40 to 45 clubs in operation or under construction by the end of 2022. source
Related news: Walmart China Subsidiary Teams Up With VeChain to Trace Food Products
Bayer’s G4A selects VeChain as partner for CSecure clinical trial management platform
Bayer’s G4A startup round in China has produced a partnership with VeChain to collect and track supply chain data for Bayer’s clinical trials. The platform, known as Csecure, can monitor user and product data entered into the platform to ensure it is consistent throughout the trial, leading to improved safety and precision.
Sunny Lu, VeChain CEO, commented on the partnership:
“After this partnership with Bayer, our greatest feeling was their rigor [precisness] towards the medical industry. This precision extends beyond just product design to include precision in communication, and in with communication between Bayer’s related business departments. We can really feel the complete meticulous attitude that Bayer has for the medical and health cause. “
The G4A partnership could have a lot of advantages for VeChain. In addition to CSecure being used internally with Bayer, G4A partners gain access to exclusive mentors, networking opportunities, and regional support. The whole process of engaging with such a large medical organization should bring valuable experience for VeChain’s product development team, as they better understand the professional needs of a leading medical enterprise.
A case for DNV GL & My Story
As a leader in the certification of energy industry processes, DNV GL is a natural choice to verify the supply chains of EV battery and raw material suppliers. Erik Dugstad of the DNV GL Energy Advisory for the Nordic & Baltic region suggested that DNV GL’s My Story would be the perfect tool for battery manufacturers looking to provide customers and end consumers with verification that these eco-friendly vehicles were actually produced in a way that is friendly to the environment. For many buyers, the whole purpose of switching to an EV is to reduce their carbon footprint, and having proof of that on the public blockchain is a great way to build trust in that regard.
In fact, the risk of not providing verification is that as mining processes become more and more damaging, consumers could become disenchanted with EVs altogether, hurting the industry and setting back the natural progression of technology. My Story solves this by first uploading key supply chain data to VeChain’s public blockchain, with DNV GL providing a verification that the process was done correctly and free of human tampering.
70 Years Old Italian Food Brand Deploys VeChain’s Traceability Solution
Projects
The Next Generation AI-powered Intelligent Digital Asset Exchange.
HackenAI — Personal Cyber Security App
HackenAI — a revolutionary, 360° cybersecurity companion that incentivizes users to learn good cybersecurity habits. Powered by the HAI token.
The world’s first blockchain-enabled tabletop game console, where physical pieces come to life. The platform offers a mechanism to interact with software features for tangible benefits.
8Hours Foundation’s mission is to create ways for people to connect and play, strengthen their social fabric through social interactions. They found that the best way to foster social bonds is simply by spending an average of 8 hours a week interacting with each other, and so they set out to the most meaningful experiences there is social play. By creating a new environment that blends physical board games and digital possibilities, they propel social play into the 21st century.
VeriArti is a digital art world and market creating unique tokens, empowering digital artists and collectors, all verified on the leading enterprise blockchain.
Plair is a decentralized global gaming ecosystem platform supporting the gamer’s life built on VeChainThor.
DECENT.bet
Blockchain gaming on the VeChain platform. Play your favorite esports and monetize your passion at http://play.decent.bet.
Please, go to VeChainLinks to learn about more projects built on VET
Other
A list of the major developments and important dates:
Introducing the VeChain Accelerator Program
VeChain Launches Revolutionary One-stop BaaS Platform — VeChain ToolChain
VeChain Launches HSM Based Key Escrow Turnkey Solution
VeChain Summit 2019 Recap Video
Walmart China Takes on Food Safety with VeChainThor Blockchain Technology
Cupids Farm Milk, First Product to Go Live On BrightCode, a VeChainThor Blockchain Solution
VeChain, DNV GL, and Haier IoC Enter Into Tripartite Strategic Partnership
VeChain Attended San Francisco Blockchain Week 2019 and Showcased The New VeChain Builders Website
Social media metrics
Social media activity:
The graph above illustrates changes in the number of VeChain Reddit subscribers, Twitter followers and Facebook likes. The information is taken from Coingecko.com.
This report is not financial advice.
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