{"id":24564,"date":"2018-01-14T11:47:49","date_gmt":"2018-01-14T19:47:49","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=24564"},"modified":"2019-12-02T14:27:11","modified_gmt":"2019-12-02T14:27:11","slug":"vetting-vechain-blockchain-platform-products-information","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/vetting-vechain-blockchain-platform-products-information\/","title":{"rendered":"Vetting VeChain – a Blockchain Platform for Products and Information"},"content":{"rendered":"

In an increasingly crowded but frustratingly similar ICO environment, platforms are looking for ways to differentiate themselves. Many companies have risen to prominence following the same playbook, using similar designs, and publishing the same-sounding articles. Now that the total value of the entire cryptocurrency market<\/a> is approaching $1 trillion, there is at least some semblance of a change.<\/p>\n

Ironically, that change is usability. Go figure.<\/p>\n

People are paying more attention to platforms that boast a working product, have an established audience, and have a clear vision for achieving success. Ripple\u2019s recent surge<\/a> is evidence of this.<\/p>\n

Therefore, many people are looking for blockchain platforms that have enterprise-level initiatives in mind and that have the technical capability to see them through. One of the obvious applications for this is in supply chain management.<\/p>\n

Research and consulting firm, Deloitte<\/a>, recommends that<\/p>\n

\u201cUsing blockchain in the supply chain can help participants record price, date, location, quality, certification, and other relevant information to more effectively manage the supply chain.\u201d<\/p><\/blockquote>\n

That\u2019s what VeChain<\/a> is striving to impact.<\/p>\n

\"VeChain
So far, VeChain\u2019s token<\/a> has followed other digital tokens by surging in value after its launch. Initially priced around $0.25, by Christmas, 1 VET was worth about $1.50. 2018 has been extremely prosperous for VET token holders. Since the new year, VET quadrupled in price, and it\u2019s now trading at more than $6.00.<\/figcaption><\/figure>\n

A Blockchain for the Supply Chain<\/h2>\n
\"\"<\/a>
VeChain<\/a> is a product identification management solution on the blockchain.<\/figcaption><\/figure>\n

VeChain<\/a> is a blockchain platform secures the supply chain by verifying product authenticity. Using their VeChain<\/a> Identity technology, they can effectively track shipments through tags that are readable using NFC, QR, or RFI identifiers.<\/p>\n

By outfitting a particular product with one of these tags, companies and customers can track this item throughout its production cycle and shipping journey. This is particularly useful for specialized products like certified organic grocery items or other products whose integrity is uniquely valuable.<\/p>\n

VeChain's<\/a>\u00a0ability to insert itself into the battle over counterfeit or mislabeled goods could be a significant value-add for business, and it may have an outsized ability to help it expand as an enterprise solution.<\/p>\n

How does Vechain work? Watch this short video (1:34):<\/p>\n