CRYPTO REVIEW : VECHAIN VEN/VET, REAL USE CASES

crypto-eskimo (25)in #vechain • 7 years ago (edited)

VECHAIN BRIEF PRESENTATION :

Many ICO’s come up with a project, that may, or may not work or be carried out, no matter how well written is the whitepaper.
VECHAIN is a kind of cryptoasset that already has a working product, and partnerships with big companies.
It tells a lot about the solidity of the solution they bring to the negociation table.

Using a tamper-proof distributed ledger, VeChain makes it easy to record and share products data, providing transparency between manufacturers, vendors and consumers, who can be confident that what they are purchasing is really what they think it is.

So, below, we’ll ASK vechain

What real-world issues do you intend to solve?
What solution do you propose that we haven’t tried yet?
What’s makes you think you are the right guy for the job?

SO, WHAT IS THE PROBLEM?
Here is an example :
Counterfeit liquor is a deadly issue, making A LOT of victims.
Usually a felonious organization make a product that looks indistinguishable to a well-known liquor brand.
The bottles are filled with dangerous chemicals like antifreeze, methanol, or isopropyl, which can cause blindness or death.
Consumers get sick or die from drinking these shady liquors. Also, trust in the legit brand can drop, because their is no way of knowing which products are real, and which are counterfeit.

Solutions have been tried, such as sticking QR codes on the bottles. But let’s be honnest here, it’s not much trouble for the counterfaiter to print a QR code linking to a fake website claiming the product is legit.
This applies to any goods that are subject to counterfeiting, improper storage, or other issues.

OK, NOW WHAT CAN YOU DO TO SOLVE THESE ISSUES? WE ALREADY TRIED IT ALL!

VeChain has developed a powerful blockchain-enabled software platform.
The goal is to use a blockchain, so information is available to anyone, from production, shipment, storage and sales process.
Manufacturers assign products with unique IDs, which is stored in the blockchain, and placed on the product with a QR CODE, RFID or NFC chip.
It then allow partners and consumers to interact with the product’s chip through the blockchain, and guarantees the data cannot be tampered, by allocating private keys to all participants, whether it’s a retail partner checking batch number, or a consumer learning more about a product’s origin.
This applys to a broad range of applications, from brand protection, to food safety and car history, to name a few.

EXAMPLE:

You buy a nice bottle of quality french wine.
With VECHAIN the bottle’s packaging provides you with information telling you how that bottle ended up in your hands: where it was made, on what date it was bottled, how it has been stored, which wholesaler bought it, who that wholesaler sold it to, when and for how much.

Concerning other goods, the complete lifecycle of the product could be tracked on the ledger.
So when you buy a second-hand car, you know exactly what your getting for your money (mileage, insurance hystory, previous owners, etc.).
Since this information is tored on a open ledger public blockchain, it is impossible to tamper the database.

OK IT ALL SOUNDS GREAT, BUT HOW CAN YOU KEEP UP WITH THESE PROMISES?

Given the current state of logistics in the world, there is certainly a lot of growth that could be seen. We will witness larger amounts of adoption in the coming years, which is a great opportunity for early adopters.

So, what does VECHAIN offers that others don’t you ask ?

One of the earliest company to see the potential of blockchain technology.
top-notch blockchain team
Proven blockchain implementation experiences in industries such as agriculture, luxury goods, and alcohol.
Branches all across the world such as France, Singapore and Hong Kong
Relatively transparent and symmetrical information
Reduce the potential trust issue between different parties
Each person and each enterprise can find their own place. Based on their contribution and value, they can receive fair reward.
The economic value is in a loop that keeps growing, accompanied by the development of commercial activities with -
high-speed transmission.
Partnerships with well established companies (ressources below).