V Systems 2023 Year-End Report

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V Systems

6 min readDec 29, 2023

29 December 2023–2023 has been a year of adjustments. Approximately one year ago, the crypto industry was shaken by the collapse of one of the biggest exchanges worldwide, FTX, with all of the consequences that such a disastrous event entailed for the projects, developers, and investors involved in it.

Regulators worldwide have continued to refine their legislation and policies on Web3 innovations in blockchain and Web3. While some countries experienced tightening regulations, some others welcomed new projects and provided regulatory clarity. Prominent among them is Hong Kong and its ambition to become a global crypto hub, as we’ve covered in our Global Perspectives series and witnessed at the Hong Kong Fintech Week 2023.

As expected by some and desired by many, the new crypto bull run has just started, igniting renewed hope for yet another cycle of Web3 growth to support and promote the adoption of blockchain and other relevant technologies, including Real-World Asset Tokenization, GameFi, and DeFi. While we are continuously looking to polish and refine our products, we believe we are well-equipped to make the most of the new bull run and strengthen our project to face any challenge ahead.

V Systems — Despite the challenges that this year was ridden with, we have focused on building resilience and consolidating our technology with new case studies and more tech stack capabilities. This is why our team at V Systems has considerably focused on one thing: development.

We have worked on the optimization of our products and tools, such as Titan Wallet browser extension for VSYS tokens and NFTs. We have explored the synergies with other technologies, e.g., Artificial Intelligence (AI). We have also soft-launched new products, i.e., our Kubernetes-based container service VKube. The official launch is scheduled for Jan 8, 2024.

In 2023, we have put our heads down and focused on work. We researched, we developed new features and products, and we continued planning long-term for the future of V Systems. We are confident in the future of the ecosystem, and we will work to give back to the community to thank you for the support we have received.
— Sunny King

As we embarked on the new cycle in early 2023, we maintained a flexible stance and adjusted our plans as we developed further. This is why we decided to focus on specific products as well as enterprise adoption and postponed the development of other features preliminarily considered for implementation in 2023.

Through our enterprise solutions entity, Coded Solution, we have consistently worked on promoting the institutional adoption of blockchain technology. Thanks to our efforts, we have successfully onboarded new clients — from SMEs to giant corporations (we would love to tell you more about them but we are NDA-bound) — and explored new case studies to better understand the needs of different industries, including e-commerce, web applications, ESGs, banking, and finance.

Below you can find a breakdown of our work and achievements in 2023.

Project Development & Accomplishments

Q1 and Q2 2023

Development of an Entertainment DAO project
Launch of Materia — Tokenisation ERP platform
Development of Chait Chat — Chat GPT-based AI chatbot

Q3 2023

Issuance of 3000 additional GoldZip Tokens
VIO Beta Launch to PWA on Mainnet
Development of a new NFT game
Optimization of Titan Wallet Lite on PWA
Rolled out VKube first third-party use case — a social app for community engagement

Q4 2023

EBRIC MOU Signing Ceremony at MDX Grand Finale Event for ESG Tokenization Reward Program
Soft launch of VKube (under VCloud) for VSYS community

Awards & events

Q1

Hong Kong Government’s Cyberport Management Company Limited (HKCMCL) for our proposed “Virtual Asset Management and STO Portal” project
FOMO Asia HK300+ co-organized blockchain & web3 event
Blockchain Solutions winner of FinTech Awards 2022 by ETNet

Q2

Participation in RESURGENCE — Hong Kong’s Premier Networking Event for Financial Leaders
HK media roundtable panel in Rethinking: Next Generation Payments event by FIS Worldpay
Outstanding SME Award in Digital Transformation / Technology by ETNet on Intelligent and Innovative SME Business Awards 2023

Q3 and Q4

Panel discussions at Hong Kong Web3 Financial Application Series by The Y. Elites Association Hong Kong
Booth at the Hong Kong Fintech Week 2023 (read more), Singapore Fintech Festival, Malaysia MDEC MDX Grand Finale, Selangor Smart City & Digital Economy Convention (SDEC)
1st Prize in Outstanding Cross-Border Financial Services Awards by The Chinese Financial Association of Hong Kong
3rd Prize for a Web3 Travel Solution in an Innovation Hackathon by Web3.0 Institute of Web3.0 Hong Kong

Our Marketing Efforts

Q3–4

Content marketing — case studies, policy analysis, event participation
Branding — polished V Systems design
Website — started the revamping of the V Systems website (design and content)

More marketing activities will be implemented in 2024.

Built on V Systems: Tachyon Protocol

Q1 to Q4

Performed multiple product optimizations and upgrades for Android/iOS clients
Comprehensive optimization and upgrade for IPX Staking
IPX Staking 2.0 launched on Android client
Optimization of the Tachyon Protocol to improve connection speed and stability
Optimization and upgrade of the Tachyon Server Node to ensure the stability of the node
Reached cooperation with some well-known cloud vendors to jointly build TachyonNode
Improve Tachyon global network nodes to ensure the overall stability of the network
Researched distributed storage-related technologies and made technical reserves for Tachyon Storage
Investigated distributed DNS-related technologies and made technical reserves for Tachyon DNS

In the upcoming year, we will focus on exploring next-generation, flexible architecture solutions, doubling our marketing efforts, and polishing our current product suite. Stay tuned for more details on our 2024 roadmap, to be published in the coming weeks.

In the meantime, we wish you all a Happy New Year!

Any questions or inquiries regarding our network, projects, or collaborations? Shoot us an email at support@v.systems

About V Systems

www.v.systems

V Systems (VSYS) is an open-source network that supports decentralized applications’ efficient and agile development. It is designed for real-world use cases, making it possible to create, send, trade, and track tangible or intangible assets in a digital form. VSYS can handle millions of transactions each day and runs on a decentralized, open network.

Stay Connected

Twitter: https://twitter.com/VSYSCoin
Telegram: https://t.me/VSYSOfficialGroup
Medium: https://medium.com/vsystems
YouTube: https://www.youtube.com/channel/UC3tnJX2dztNKh2yJxFVSDAw
Reddit: https://www.reddit.com/r/V_SYSTEMS/
Github: https://github.com/virtualeconomy/v-systems

VSYS coin

Coinmarketcap: https://coinmarketcap.com/currencies/v-systems/
Coingecko: https://www.coingecko.com/en/coins/v-systems