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VeChain
VeChain

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Review


VeChain (China) is the world's leading Blockchain-as-a-Service (BaaS) platform for enterprises. It has been rolling out real-world applications based on blockchain technology ever since 2015, in a variety of industries, like Pharmaceuticals, Automotive, Luxury & Fashion, Cold-Chain Logistics, Digital Publishing, Agriculture, Food & Drinks, Supply Chain Management, Real Estate, Telecom, etc.

"We are relentless in the pursuit of being the first blockchain company to change the world for the better. Our original vision never changed. Our dream is to build a trust-free and distributed business ecosystem, by enabling the flow of information and values at high-speeds, through collaboration with enterprises."

*  VeChain is an abbreviation derived from the words Verified Chain.
*  This one-page review of VeChain represents an attempt to summarize all the major / official news & achievements that are related to VeChain.

Links

Videos

Documents

Leaders



Chief Executive Officer

Sunny Lu


Between 2002 and 2005 : GNC (Global Network Center) Manager at NetStar China. Between 2006 and 2009 : IT Infrastructure Manager at 3M China. Between 2009 and 2010 : IT Manager at Bacardi China. Between 2010 and 2014 : CTO / O&P (Organization and Projects) Manager at Louis Vuitton China. Between 2014 and 2015 : CIO / IS&T (Information Services and Technology) Director at Louis Vuitton China. Since 2015 : Co-founder / CEO at VeChain.

"VeChain Community, I do not say this lightly, you are the best community we could ask for. Your dedication and exuberance towards the cause is a constant reminder to us that our goals are not our own. You are a part of us and you drive us. I wanted to take the time and write to you about the coming releases. I wanted to firmly express that in three years, the public will be using VeChain every day and never even know it. I long to say to my daughter : Everything you do everyday - I was a part of that."

"Many projects are attempting many ways to achieve mass adoption. We believe firmly that in the end blockchain will be used by everyone, knowingly or unknowingly. The world will use blockchain technology in the same way that they use TCP/IP when accessing the internet."

Chief Technical Officer

Gu Jianliang


Before joining VeChain, Gu Jianliang worked as a Technology Director within TCL & ALCATEL, a multinational electronics company, where he accumulated over 18 years of experience in relevant industries, such as mobile telecommunications and IoT.

Notably, during his career at TCL & ALCATEL, Mr. Gu led the technical team to design various mobile communication devices for T-Mobile, AT&T, Deutsche Telekom, Vodafone, etc. He also redefined many hardware design standards, including baseband, audio, multimedia, etc. In addition, he established the design principle of basic software functionality, including power management, security design, etc.

Mr. Gu invented and contributed to the invention of +100 patents, in fields such as integrated circuit design, mobile device power management, enhanced traceability via NFC technology, etc.

Chief Operating Officer

Kevin Feng


Kevin Feng has over 12 years experiences of consulting and assurance services in cybersecurity, privacy and emerging technology. He joined PwC Shanghai in 2005 and had been relocated to PwC New York between 2014 and 2016. Besides his extensive experiences in cybersecurity and privacy, Kevin has been driving the development of blockchain services of PwC CN/HK region while he was working for PwC. He was one of the few blockchain evangelists in the profession service space, and he played an important role in some of the early iconic blockchain projects. In January 2018, Kevin joined VeChain as COO.

Kevin is a Certified Information System Security Professional (CISSP) and a Certified Cloud Security Professional (CCSP).

Economy


On June 30 2018, VeChain successfully launched its own Blockchain / Mainnet, called VeChainThor, after years of intensive planning & testing. Before this date, VeChain was functioning on the Ethereum Blockchain, based on ERC-20 tokens called VEN. The launch of the VeChainThor Blockchain marks the independence of VeChain, and the transition from a single token economy (VEN) to a dual token economy (VET + VTHO). Accordingly, a token swap (VEN to VET) was necessary, at a 1:100 ratio (1 VEN = 100 VET). Check the above video for more details.




When discussing with our partners, PwC, DNV GL and some other prominent entities, within the Apotheosis process, it was understood that the economic model was amongst the most pivotal portions of VeChainThor. This model will dictate the longevity, stability, and interest the project will garner. It is for these reasons the development took numerous phases of discussion, and hundreds of hours of testing, to make sure our model met the needs of our current and future stakeholders.

It was a unanimous decision that a two-coin system provided the Foundation the flexibility to create both a store of value, to be used as smart payment currency, and the appropriate means of managing the costs of using the VeChainThor protocol.



VET

The function of VET (VeChain Token) is to serve as the intermedium of value, or in other words, smart payment currency, to enable rapid value circulation within the ecosystem based on the VeChain Blockchain.

People that hold VET in their VeChainThor wallets are eligible to receive VeChain's secondary token, called VeThor (VTHO), for free.



VTHO

VTHO (VeThor) represents the underlying cost of using the VeChain Blockchain and will be consumed (proportionally burnt) after certain Blockchain operations are performed, such as transferring VET and executing smart contracts.

You will receive approximately 0.000432 VTHO per each VET you hold, per day. That is approximately 0.15768 VTHO per each VET you hold, per year. To generate 1 VTHO per day, you need to hold approximately 2,314.8 VET.

VTHO can be sold / transferred / used to pay for the execution of smart contracts on the VeChain Blockchain.








Best place to buy VET :


News


Mar 2019

Fashion for Good


VeChain was selected in the Fifth Batch Of Innovators at Fashion for Good. The 10 entrepreneurs that will compose the fifth accelerator batch have been carefully selected from hundreds of applicants. While each innovator has a unique value-proposition, this batch has a focus on innovative data management, new materials, dyeing technology, and end of use solutions. The goal of the accelerator is to drive market validation and prime these technologies for implementation at scale.

Fashion for Good aims to promote the five essential "Goods" of a new, transformed fashion industry: Good Materials, Good Economy, Good Energy, Good Water, and Good Lives. In pursuit of this goal, Fashion for Good enables the fashion industry to embrace innovation, change its business models and adopt a totally new mindset.

Partnership

BMW

The BMW Startup Garage is a startup's gateway into the multi trillion dollar automotive industry. We are looking to partner and become the early adopting venture client of top startups that can make a difference to innovation at the BMW Group.



In February 2018, Sunny Lu, CEO of VeChain, confirms that VeChain has partnered with BMW.



In February 2018, Sarah Nabaa, Vice President for SE Asia & Australasia at VeChain, confirms that VeChain cannot disclose more details about its partnership with BMW, due to an NDA (Non-disclosure agreement).





In March 2018, BMW USA confirms that VeChain is participating in the BMW Startup Garage programme.





In November 2018, the BMW VeChain partnership is featured in the Motortrend magazine.





In February 2019, the BMW VeChain partnership is featured in the Automotive IT magazine.

Partnership - Feb 2019

Reebonz


Reebonz and VeChain signed a Memorandum of Understanding (MoU) and will collaborate on end-to-end tracking and authentication solutions for luxury goods. The companies plan to develop a digital tag that will enable the development of upstream and downstream supply chain assurance to allow product traceability, supply chain planning, product management, and proof of ownership. Data, which is unique to every product sold, will be kept on the VeChainThor blockchain.

Torres Oey, Chief Technology Officer of Reebonz : "We are extremely excited to be a strategic partner of VeChain! This marks an important milestone, as Reebonz celebrates its 10-year anniversary in March. Building trust with our customers is one of our core values. This partnership will strengthen our vision of making luxury accessible to everyone and giving the power to our shoppers in determining the authenticity of products that they have purchased. The blockchain technology is unprecedented in our sector and will be a disruptor in how we authenticate products. We believe that the expertise from the VeChain and VeChainThor platforms will be paramount in providing a complete end-to-end solution."

Founded in 2009 and currently headquartered in Singapore, Reebonz is the trusted online marketplace and platform for buying and selling new and pre-owned luxury products in the Asia Pacific region (more than 1,000 brands / 172 boutiques).

Feb 2019

AWS


VeChain has announced the launching of an integrated one-click solution into AWS Cloud (Amazon Web Services), allowing a host of enterprises to deploy quick, secure, and compliant blockchain applications.




Partnership - Dec 2018

Fuji MARUMO Tea Garden


To improve authenticity and traceability of tea products, VeChain is working with one of the most historic tea businesses in Japan, run by the Fuji MARUMO Tea Garden, which was founded in 1927. VeChain's advanced IoT solution will allow MARUMO's customers to use their smartphones to scan / read the NFC chips that are embedded on the MARUMO packages, thus verifying the origin of their tea products.

In this first trial batch, there are a total of 100 products embedded with VeChain's NFC chips which serve as a memorable limited edition offering of Fuji Tea. This trial is the Proof of Concept for the larger partnership that will be implemented upon completion.

Partnership - Dec 2018

BIOS Middle East


Dominic Docherty, Managing Director for BIOS Middle East : "BIOS Middle East will work with VeChain to extend its proven solutions on the blockchain to be directly accessible to Middle East and African organizations through the CloudHPT platform, which will potentially bring thousands of transactions on a daily basis."

BIOS is an award-winning Managed Service & Cloud Provider established for +16 years in the UAE and committed to helping organizations become more efficient and cloud enabled through in-country and global cloud networks and platforms. BIOS provides its 400+ customers (10,000+ servers) the capability they need to achieve successful transformation, through industry leading, end-to-end managed networks, security and platform solutions.

Partnership - Nov 2018

Invest Cyprus


Invest Cyprus (the national Investment partner for the Republic of Cyprus), VeChain Foundation and CREAM (a USA registered legal entity with focus on blockchain project strategic advisory and investments) have signed a MoU (Memorandum of Understanding) for a strategic collaboration. The essence of this MoU is to establish a framework for the basis of cooperation in the field of blockchain technologies and related use cases.

Invest Cyprus is a government dedicated partner responsible for attracting and facilitating Foreign Direct Investment (FDI) in key economic sectors. Being the lead agent in establishing Cyprus as a world-class investment destination, Invest Cyprus proactively promotes the enhancement of the country's competitive environment, advocating reform and maximizing FDI, for the economic and social benefit of Cyprus. In close collaboration with all government authorities, public institutions and the private sector, Invest Cyprus is the investor's first point of contact.

Partnership - Nov 2018

Shanghai Gas / ENN


VeChain was chosen to participate in the development of a pilot LNG (liquified natural gas) management solution in the Zhoushan LNG Storage and Distribution Centre. This blockchain solution is the result of a new joint initiative between VeChain and two of China's leading energy and gas companies : Shanghai Gas, a state-owned company who has provided gas and lighting to Shanghai since 1865, and ENN Energy Holdings Limited, one of the largest clean energy distributors in China / 32,000+ employees.

The solution handles the quality assurance process, including classification standards, weighing practices, and transportation process for the different types of natural gas. All information is certified by a third-party authority and uploaded to the VeChainThor Blockchain to establish credible industry standards per government mandates. From there, all aspects related to the data will be tracked, shared, and traded using the VeChainThor Blockchain, which will be used for further auditing the LNG market.

H&M / Arket


H&M group in-house brand Arket is testing a new product integration powered by VeChain.




Nov 2018

CIIE


VeChain was invited to the first China International Import Expo (CIIE) edition that was held at the National Exhibition and Convention Center in Shanghai. During the event, government officials, business communities, exhibitors and professional purchasers from 172 countries and regions explored the solutions offered by the Chinese market.

Oct 2018

Digital Low Carbon Ecosystem


This initiative aims to leverage the VeChainThor Blockchain and Internet of Things devices to effectively record every carbon emission reduction behavior of enterprises and individuals, using smart contracts to calculate the carbon reduction equivalent and accordingly issue carbon credits.

This ecosystem can fully mobilize the enthusiasm of enterprises and individuals to reduce emissions in connection with the United Nations' agenda, and promote the high-quality development of real economy. The technology for this ecosystem is already being tested and deployed across ecosystem partners, notably the already-produced electric vehicles from BYD that will go on sale in 2019.

The signing of the 'Digital Low Carbon Ecosystem' document serves as the official creation of a new partnership between the influential Norwegian assurance company, DNV GL, and key partners of the Thirteenth Chinese Five-Year Plan : BYD / PICC / VeChain / Sino US Relations Research Center, School of Social Sciences, Tsinghua University / Shanghai Xiandao Food (a subsidiary of Bright Food).

Oct 2018

SBTG


VeChain was showcased with influential Singapore sneaker artist SBTG (SABOTAGE) in an initial limited edition collection of sneakers integrating smart chips and blockchain technology. This technical implementation enables consumers to verify the Authenticity and Proof of Origin of SBTG shoe lines.




Partnership - Oct 2018

Morpheus Labs


Morpheus Labs offers infrastructure for enterprises and developers who want to build and experiment their own blockchain applications effortlessly and at a fraction of the cost and time. This provides a one-stop development tool for smart contracts, back-end services, and front-end applications.

Partnership : Sep 2018

BYD


BYD announced the completion of a carbon banking solution that utilizes VeChain's automobile lifecycle management system. This will be the first enterprise level application solution that's moving the data of millions of cars, buses, trains, and other vehicles onto a public blockchain platform.

This carbon bank solution rewards vehicle operators with carbon credits based on their vehicles' driving performance and carbon reduction. The solution provides the tools necessary to construct a blockchain-based ecosystem aimed at reducing the global carbon footprint. Each footprint captured will be recorded on the VeChainThor Blockchain and made available to clients interested in participating in the initiative. With this solution, corporations will be able to access a platform that facilitates easy data management, sharing, and analytics. Data will no longer be considered fragmented and untrustworthy, but united and reliable.

BYD is the world's largest manufacturer of electric vehicles and batteries, and the global leader in battery-electric buses. BYD is also an industry leader in several other high-tech sectors, including high-efficiency automobiles, medium- and heavy-duty trucks, electric forklifts, SkyRail, energy storage and solar power generation.


BYD Auto sold a total of 506,189 passenger cars in China in 2013, making it the tenth-largest selling brand and the largest selling Chinese brand. In 2015, BYD Auto was the best selling global electric vehicle brand, ahead of Luxgen. For a second year running, BYD was the world's top selling plug-in electric car manufacturer with over 100,000 units delivered in 2016. In October 2016, BYD Auto became the all-time second largest global plug-in car manufacturer.

Partnership : Sep 2018

PICC


People's Insurance Company of China (PICC), one of the largest insurers globally, with 126 billion USD total assets, is opting to embrace blockchain technology with the help of DNV GL and VeChain.

PICC chose VeChain because of their existing solutions with DNV GL catering to real problems within businesses and governments. VeChain's use of their public blockchain, VeChainThor, provides enterprises with the tools, securities, and governance to properly control their assets while collaborating across multiple verticals, industries, and even countries. By merging this technology with the assurance services of DNV GL, PICC is set to expand their current offerings, bringing true digital transformation to a now stagnant industry.

Aug 2018

Drug and Vaccine Traceability Solution


In 2016, the State Council (China) issued the National Informatization Plan for the Thirteenth Five-Year Plan, in which blockchain technology was included. In 2017, the Shanghai Municipal Commission of Commerce published 'Shanghai Municipality Product Traceability System Construction Demonstration Support Project', which revealed Shanghai's success at assuring vaccine quality standard.

VeChain is the only approved blockchain traceability provider in Shanghai that has been tasked to achieve China's traceability requirements by 2020. VeChain's traceability solution is being developed and tested in Shanghai, and will soon be rolled out across China. Shanghai is the largest city in China by population, and the second most populous city proper in the world, with a population of 24.18 million as of 2017.

In VeChain's drug and vaccine traceability solution, highly sensitive IoT devices capture and record to the VeChainThor Blockchain all data involved in vaccine manufacture and transport including getting vaccines from manufacturers, storage facilities, cold chain distribution, hospitals, and even usage. While ensuring the reliability of the data source, VeChain's solution also eliminates the potential risks in the whole process and ensures that vaccine records are immutable and permanent.

The production data and transportation temperatures for vaccines need to be strictly monitored because vaccine composition and storage temperature directly affect vaccine effectiveness. Based on the VID on the VeChainThor blockchain, each dose of a vaccine will be labeled with a unique identifying code, and end users can scan the code retrieving a complete history of the product.

Partnership : Aug 2018

NTT Docomo


VeChain was accepted in the first batch of partners for the 5G Open Partner Program (a high-speed/capacity network service) that was launched by NTT Docomo.

NTT Docomo is the largest telecommunications company in Japan. In March 2018, with a 45.3% share of all mobile phone subscriptions, Docomo became Japan's leading mobile carrier provider. The market capitalization of NTT Docomo was ranked 2nd in Japan, after Toyota, in 2018.

Partnership : Jul 2018

Cahrenheit


Cahrenheit Foundation aims to create the world's first blockchain-based ecosystem for the automotive aftermarket economy - a $940 billion global market, as well as the world's largest blockchain-based use case, with the potential to serve +1 billion passenger vehicles and their owners/users, +5 million small and medium sized auto service providers and their employees, and thousands of Enterprise Data Users.

Sunny Lu, Co-founder / CEO at VeChain, is a strategic advisor at Cahrenheit.

Klover, the largest InsurTech company in China and the first internet insurance platform to have successfully applied for and received China's National Insurance Brokerage License, will be the first publicly announced Channel Partner, bringing into the Cahrenheit ecosystem +30,000 SMEs, +1 million consumers and 30 insurer partners. Klover will work closely with CAH Foundation to educate and usher its partners to adopt the CAH decentralized application and utilize the CAH tokens to transact within the ecosystem.

Partnership : Jul 2018

Totient


Totient is a San Francisco based technology company with a mission to make blockchain and cryptocurrency deeply integrated with society. The Totient team, through both Totient Capital and Totient Labs, will be issuing, vetting, funding, and developing new ICO's and enterprise opportunities within the United States market as partners of the VeChain Foundation.

Totient has developed core software and standards to strengthen and increase adoption of the VeChainThor Blockchain. Here are some of its contributions, so far :


Partnership : Jun 2018

DB Schenker


DB Schenker is the transport and logistics division of Deutsche Bahn. With a dense network of over 68,000 logistics experts in 2,000 locations, DB Schenker offers comprehensive supply chain management solutions, efficient air, ocean, rail and land transport as well as contract logistics around the globe. With extensive experience of over 50 years in China, DB Schenker today employs 5,700 logistic specialists in over 60 key cities across the country, providing reliable and customized logistics services.

DB Schenker has developed a supplier evaluation system with VeChainThor platform. This is the first time that blockchain is used for supplier management purposes. VeChainThor blockchain scores the business partners based on collected data and allows DB Schenker to better evaluate the service of the suppliers. In the future, the system and its related applications can potentially evolve into a platform widely shared and co-constructed by a broad range of logistics service providers.

Jun 2018

Shanghai Wine and Liquor Blockchain Alliance


On 7th June 2018, under the direct guidance of two government bodies - Shanghai Municipal Commission of Commerce and Shanghai Liquor Monopoly Administration - VeChain, DNV GL, D.I.G., the Business Information Center of Shanghai, and eight other government bureaus and enterprises formed the Shanghai Wine and Liquor Blockchain Alliance to further the cause of China's national strategy "to complete product quality traceability system by 2020".

"By applying blockchain technology to mid and high-end wines, which consists of +50% of Shanghai's imports, consumers will be effectively protected. This process personally allows users to discern the "Wine of the West" brands and will coincide with the verification processes the Shanghai Wine and Liquor Blockchain Alliance, tags and brand represented on each bottle. This digitized path will greatly enhance consumer confidence."

Jun 2018

Luxembourg Delegation


A delegation from the Luxembourg Ministry of the Economy visited VeChain's Shanghai office to learn more about the VeChainThor Blockchain and Platform. This delegation was shown various solutions and applications VeChain has developed for its enterprise users.

Luc Decker, Consul General of the Grand Duchy of Luxembourg Consulate General in Shanghai : "Luxembourg has a lot to gain in this new distributed technology which fully integrates into the Government's vision to embrace the Third Industrial Revolution. Different applications of this technology are of great importance for the future development of some key industries of my country, like the financial sector or the logistics industry and companies like VeChain would perfectly match into our innovative start-up ecosystem."

Partnership - Jun 2018

Safe Haven


Safe Haven is building cutting edge security and continuity solutions for various markets, by integrating legal entities into a decentralized solution for the inheritance of passphrases, bank accounts, social media accounts and cryptocurrency. They will utilize their patented Trust Alliance Network (TAN) to empower legal entities to provide guidance, assurance, and services for members on the Safe Haven Platform.

Sunny Lu, Co-founder / CEO at VeChain, is a strategic advisor at Safe Haven.

Partnership : May 2018

Bright Food


The original Bright Food brand was established in 1950 by Jiang Zemin, previous President of China. The Bright Food Group, a State-owned limited company with headquarters in Shanghai, is the second-largest China-based food manufacturing company, with an estimated revenue of 160 billion RMB / 25.3 billion USD in 2017. It is currently operating 93 different Chinese domestic and foreign subsidiaries, with 4 publicly listed companies.

VeChain signed a partnership with Bright Food (Group) Co. and Shanghai Xiandao Food, a significantly owned subsidiary of Bright Food which is a wholly owned subsidiary of the Shanghai Municipal Government. This deal integrates VeChainThor Blockchain throughout Bright Food's entire supply chain management and data management systems, in which they control the entire lifecycle of their product lines, from crop to retail. Over the course of the partnership with VeChain, Bright Food will utilize VeChainThor for their supply chain management, data management, as well as explore new products and solutions utilizing cold-chain logistics and development tools for supply chain management.

Bright Food Group controls the entire lifecycle of its product lines. The group owns agricultural suppliers, processing factories and distribution points all over China. Monitoring the cold-chain supply is vastly vital for Bright Food who deals mostly with milk, dairy products, meats, and seafood; this will increase the safety standards of the company and China as a whole.

Partnership : May 2018

DECENT.bet


DECENT.bet is an open-source blockchain peer-to-peer gaming platform where anyone with an idea can build a game, a predictive market, or a casino room, and share in the revenue. It is a licensed platform legally capable of conducting services in more than 100 countries. All transactions will be transparent and verifiable on the blockchain. This transparency will make it impossible for malicious or predatory activity to take place from the outset. All payouts, credit distributions, lottery winnings, house buy-ins, will be completely decentralized and determined on-chain.

"The transition to VeChain will be smooth, their product is world class, and they have designed this system to help onboard parties like ours, who are frustrated with Ethereum."

Partnership : May 2018

Plair


Plair is a blockchain-backed platform to play, watch, and talk about gaming. With the inclusion of community management and communication tools, in-game wagering, analytic tools such as cross-platform AI matchmaking, a true amateur eSports market is about to be unleashed.

Plair is the first ICO on the VeChainThor Blockchain.
Sunny Lu, Co-founder / CEO at VeChain, is a strategic advisor at Plair.

May 2018

VivaTech / LVMH


VeChain was invited to attend and compete for the Louis Vuitton Moët Hennessy (LVMH) Innovation Award that took place at the VivaTech event in Paris, where only 30 startups were selected, out of more than 800 applicants from around the world. This event has grown into one of the largest platforms to catapult innovation forward, with participants such as Emmanuel Macron (President of France), Mark Zuckerburg (CEO of Facebook), Satya Nedela (CEO of Microsoft), Dara Khosrowshahi (CEO of Uber), etc.

As a result of the LVMH Innovation Award competition, VeChain finished as one of the two runners-up.




Partnership : Apr 2018

INPI ASIA


On top of the IoT solutions developed in-house by our development team, we continuously seek out and integrate the bleeding edge of IoT tracking and authenticity technology from elite groups around the world. We are proud to announce that VeChain has partnered with advanced digital identification and IoT device solutions developer and provider, INPI ASIA.

INPI ASIA is a company that provides a fundamental revolution in digital identification, by utilizing an unprecedented combination of nanotechnology, secured digital technology and photonics technology to create a new type of digital identification solution. When appropriately used, INPI ASIA can disrupt the current dynamic of the RFID/NFC/QR Code dominant market. This new solution is called NDCode.

The potential use case for NDCode Technology is numberless as this technology expands upon the apparent limitations of RFID, QR code, and NFC chips. At present, the features of NDCode include: High temperature resistance: max 1,000˚c; Long lasting: Lasts well over 100 years; High identification rate: NDCode can be identified in full dark environment, can be identified even with 30% damaged code; Arbitrary shape: The NRCode can be made in any shape, minimum 5mm*5mm, even suitable for curved surfaces; High structural strength: can be used in harsh environment, no fear of moisture, or electromagnetic interference; Broad adoption: Embed directly into the material itself. Can be applied to various materials, including metal, paper, leather, plastic, etc; Invisibility: No color.

With NDCode, any institution that relies on the authenticity of vital records, such as governments, banks, financial institutions, medical facilities, or universities, can apply for the VeChainThor Blockchain powered solutions to comply with industry standards, while ensuring the integrity of their documentation beyond the current limitations.

Every component of machinery can be tagged using NDCode Technology, adding additional value to supply chain management dApps. Every step of the product lifecycle, from raw material to manufacturing, to logistics, production, resale, and waste, can be managed using a combination of NDCode and the VeChainThor Blockchain. The use of NDCode far exceeds traditional RFID technology.

Partnership : Apr 2018

Shanghai eGrid Consulting Co., LTD


 VeChain signed a deal with Shanghai eGrid Consulting Co., LTD, a publicly listed company on NEEQ, to integrate VeChain's existing automobile solution into its current automobile ERP, SCM, and CRM solutions. The partnership also extends into use of VeChainThor to leverage the nature of the blockchain throughout their business model.

Shanghai eGrid Consulting Co.,Ltd. provide data services to large enterprises, both domestic and overseas, including international companies, and state-owned enterprises. Globally, eGrid has successful implementation experiences with many companies within high-tech, automobile, automotive components, motorcycle, retail, financial, machinery and manufacturing industries.

The existence of VeChain's car maintenance solution extends well past the maintenance of a vehicle as it enters the shop. It also provides onboard IoT solutions that power the understanding of driver's driving habits, frequency of brake uses per 100 km, acceleration speed, and more metrics that can empower big data sets within insurance packages, car manufacturer improvements, and cart part manufacturers. Soon, every aspect of a car from its materials, creation, logistics, care, resale, and recycling will be able to be captured on the blockchain to create a true collaborative automobile ecosystem that empowers the data owner.

Partnership : Mar 2018

YunKeAn / LogSafer


VeChain entered into a partnership with LogSafer, a leading supply chain risk management and a major logistics insurance platform in China with over 2,500 corporate clients. In the agreement, the two parties will work together to integrate big data and Internet of Things technology into existing and future solutions. The logistic insurance market is estimated by Grand View Research to be approximately 50 billion USD globally.

Example : A fish farmer sends a cargo of fish from Japan to California, and buys an insurance policy from our partner LogSafer to cover this cargo of fish. Something happened enroute and the data grabbed from the VeChain sensors strategically placed within the fish cargo had indicated a certain high temperature reached and an extensive exposure period, a condition which is impossible for the fish to stay fresh. VeChain sensors retrieve that data, and upload that data on chain, and the state of the data triggers a smart contract execution, then the client automatically files a claim and receives a payout by the insurance company.

LogSafer integrates risk identification, risk reduction, insurance, claims and legal services. It is the largest cross-border supply chain risk management and control platform / the first one-stop international logistics insurance-claims-forensic platform in China. Currently, LogSafer has partnered with +20 insurance companies, such as Allianz, PICC, AIG, Swiss Re, Pingan, and has +2,500 customers.

Mar 2018

My Story


DNV GL worked with VeChain to develop its My Story digital assurance solution that tracks each stage of a product manufacturing cycle and gives purchasers greater insight into the characteristics and sustainability footprint of a particular item, whilst guaranteeing the information is genuine. Italian wine makers are early adopters of My Story, which means consumers will be able to scan a QR code on the bottle to find out information related to origin, quality, water usage and other product characteristics.


DNV GL made the bold move of placing 90,000 of its management certificates on a private blockchain, after identifying the technology as a new way to guarantee their authenticity. By using blockchain, anyone can access the history of a particular certificate and confirm its authenticity.








Partnership : Feb 2018

Yida Future


Yida Group is a prominent (7th in China) master-planned zone real estate developer who developed and owned assets including smart cities such as B.E.S.T. City and smart industrial parks such as Dalian Software Park, and 20+ master planned areas. Phase one of this partnership will include integrating the Gui'an smart city administrative solutions into existing projects. The end result of this partnership being VeChainThor integration into current technology and the development of blockchain solutions that are customized to all existing clients and assets under Yida Group.

The development zones owned by Yida Group consist of master plan communities, including Fortune 500 business centers, residential districts, shopping outlets, and entertainment assets. Yida Group currently has over 2.36 million square meters (25 million square feet) of assets under management, such as the globally known Dalian Software Park. Companies with offices and regional headquarters in Dalian Software Park include, among many others, Accenture, Fidelity Investments, HP, IBM, Oracle Corporation, Cisco, Symantec, British Telecom, SAP, Fujitsu Device, Hitachi, NEC, Panasonic, Sony, etc.

Yida Future is a wholly owned subsidiary of Yida Group, and technological arm of Yida Group. With around 5,000 employees, the business of Yida Future focuses on business to business IT solutions, including: Smart Business Park solutions, Insurance industry IT Solutions, Government administrative IT solutions, Pharmaceutical and Medicine IT solutions, FMCG Industry IT solutions, Medical Equipment Industry Solutions, Smart Senior/Elder Living Industry Solutions.

VeChain's work with Yida Future will be broken into phases with the end result being VeChainThor integration into current technology and the development of blockchain solutions that are customized to all existing clients and assets under Yida Group.

Partnership : Feb 2018

188 BAA


VeChain has signed a partnership with 188 BAA to effectively manage the logistic park management solution using VeChain IoT applications. VeChain will be integrating a combination of drones and IoT with VeChainThor to capture, source, manage, and secure big data solutions in warehousing zones and logistic parks, for cross-border business operations.

188 BAA Logistical Centers will circulate meats, dairy, wool, textile, and even mineral ores from mining and precious metals. The fully automated logistic centers in both Australia and China phase 1.0 will be funded by over 200 members of the 188 BAA. The design, planning, building of the project kicks off immediately.

188 Business Alliance Association is composed of hundreds of ethnic Chinese individuals who own and operate small and medium sized businesses in Australia. These businesses are mainly dealing with export / import business between China and Australia but have global routes. The existence of 188 BAA is to organize these businesses in a way that achieves larger goals that opens up industry opportunities and efficiency.

Strategic Partnership : Jan 2018

DNV GL


DNV GL is a 150+ years old international accredited registrar and classification society headquartered in Høvik, Norway. The company currently has about 14,500 employees and 350 offices operating in +100 countries, and provides services for several industries including maritime, renewable energy, oil & gas, electrification, food & beverage and healthcare.

DNV GL is the world's largest classification society, providing services for 13,175 vessels and mobile offshore units (MOUs) amounting to 265.4 mill gt, which represents a global market share of 21%. It is also the largest technical consultancy and supervisory to the global renewable energy (particularly wind, wave, tidal and solar) and oil & gas industry - 65% of the world's offshore pipelines are designed and installed to DNV GL's technical standards.


DNV GL is a world leading certificate authority and business certification service provider. DNV GL is also a member of the assessment committee of global ISO accreditation and one of the constituents of the regulations and standards of global carbon emissions. DNV GL has established business connections with +80,000 valued customers, from 187 countries, including Airbus, Coca Cola, Tencent, IBM, Oracle, Cisco, HSBC, and Alibaba.

DNV GL issues +80,000 accreditation certificates under ISO accreditation system every year, while providing secure and sustainable services for 6,000 food and beverage companies. In addition to that, a lot of medical institutions also chose to colaborate with DNV GL.

Consumers, on their part, can verify that the product they are considering purchasing is safe and genuine. As an example, the consumer can directly check that a product was ethically sourced from a manufacturer, that frozen food was safely transported at the right temperature or that a luxury product is an original, and can even track a wine back to the grape.

Luca Crisciotti, CEO of DNV GL - Business Assurance : "Data is becoming an increasingly valuable asset and this partnership with VeChain will enable our digital solutions to address the changing needs in the data-driven economy. By leveraging the Internet of Things and blockchain technology, we are reinventing the assurance process. Our Digital Assurance Concept will provide both companies and consumers with an unprecedented degree of insight into product and supplier information, to an extent and with an accuracy which have not been possible before."

The new solution will initially target the food & beverage, retail and fashion industries, and progressively expand to cover other industries, starting with automotive and aerospace.

Partnership : Jan 2018

Mlily


Mlily is the largest memory foam mattress and smart bedding product research, development and manufacturer in China. Mlily's global operations and sales coverage include countries like China, US, UK, Australia, Ireland, Japan and Canada.

Mlily will be utilizing VeChainThor for Proof of Origin, Proof of Authenticity and Supply chain management. It is estimated that this project will add +20 million RFID chips every year, for the next 5 years.

Mlily has also been an official global partner for Manchester United since they signed a 5 year contract back in October 2016.

Partnership : Jan 2018

Hubei Sanxin Cultural Media Ltd.


VeChain partnered with Hubei Sanxin Cultural Media Ltd. to develop a series of solutions that are using VeChainThor blockchain technologies for the proof of origin, the supply chain managemen, and the accounting of digital publication / digital books distributed by Hubei Sanxin Cultural Media Ltd. This pilot project was recommended and initiated by a government member for the Hubei province.

The first phase of this partnership will last for 2 years. If this pilot turns out to be successful, the government of Hubei will recommend VeChainThor Digital publication tracking solutions to The State Administration of Press, Publication, Radio, Film and Television of the People's Republic of China (SAPPRFT).

Hubei Sanxin Culture Media Co., Ltd. was established in 1998 and it currently has nearly 1,000 employees. The company is headquartered in Wuhan East Lake High-Tech Development Zone, in Hubei Province, China, with two major operating base located in Ling Jiashan and Huanglong. Its business scope covers 31 provinces, autonomous regions and municipalities in China, with a marketing and sales team of +300 people. The company has established long-term and stable cooperative relations with +1,000 publishers (suppliers) and +1,000 libraries (clients) nationwide.

Jan 2018

VeResearch Grant Program

The Foundation will allocate at least 1 million VET tokens in the next 2 years for the purpose of research and development with top universities and research labs around the world. We welcome professors and lead researchers from all fields who are interested in blockchain or blockchain integration to contact us and apply to be a part of the VeResearch Program.

VeChain welcomes Michigan State University as the first VeResearch partner. Michigan State has worked with VeChain for a while and introduced a technology entitled "EdgeChain" that combines MEC and VeChainThor to enable new data marketplace opportunities for the VeChain Ecosystem. Michigan State University is ranked #1 in the world for Supply Chain Management six years in a row by U.S News & World Report.

  • MIT Media Lab  -  Link
  • Hong Kong City University / Oxford University  -  YouTube
  • Stanford / Dartmouth  -  YouTube

Through the generosity of the company VeChain, the Neukom Institute for Computational Science (Dartmouth) has available $40,000 to support research across the campus and professional schools related to blockchain technology and its applications.

There are some unconfirmed collaboration rumours pointing to other universities that are somewhat connected to VeChain. Some of these entities are Tsinghua University, Jiaotong University and South China Normal University.

Jan 2018

InfoCorp - Sentinel Chain


Sentinel Chain is a blockchain-based international marketplace for cross-border financial services and the world's first platform to accept the use of livestock as collateral. Through this partnership, VeChain will integrate with Sentinel Chain to publish livestock provenance data on to VeChain's public blockchain platform.

Roy Lai, CEO of Sentinel Chain : "Sentinel Chain's partnership with VeChain will preserve the right of every individual - particularly the rural unbanked and underserved - to have full access to quality financial services, such as livestock insurance and microfinance."

Partnership : Jan 2018

iTaotaoke


iTaotaoke, an advanced platform for content marketing and community operations, aims to help traditional media, publishers, self-publishers, educational institutions, and individual users/consumers to easily establish their content marketing structure, protect their rights and support profiting from their content.

The core team of iTaotaoke has a previous work history at Alibaba and Ant Financial (who are the parent companies of AliPay, the most valuable fintech business in the world). The team had created the knock-out application on Alipay called Yuebao, which became the world's largest money market fund in 2017, with 300 million registered users. iTaotaoke has seen the value of VeChain Thor and is utilizing it to create a competitive advantage in their industry.

Strategic Partnership : Dec 2017

BitOcean / OceanEx


BitOcean is an ATM solution selling cryptocurrencies nationwide across both China and Japan. As one of the fastest growing solution, BitOcean is one of the first cryptocurrency exchanges to become fully licensed by Japan's Financial Services Authority (FSA).

VeChain special advisor, Nan Ning, who is the CEO of BitOcean China, has been instrumental in the development of VeChain's model to make VeChain widely adoptable across governmental bodies. His experience with Bitcoin ATMs and BitOcean's licensing with the Japan's FSA are highly valued across the industry.


OceanEx is a proprietary cryptocurrency exchange and asset management platform launched by BitOcean Global that will serve as an exchange, trading platform and asset management platform within the VeChainThor Ecosystem.

This platform is fortified by cutting-edge artificial intelligence (AI) technologies, which provides an actively protected and ultra-liquid cryptocurrency trading market, full-fledged quantitative trading capabilities, and a rich set of tools and products to meet a wide spectrum of investment strategies from all types of investors.

Partnership : Dec 2017

Xiamen Innov


Xiamen Innov Information Technology Co. LTD (Innov) will be joining forces with VeChain to provide their patented technology and configuring it to be blockchain compatible. VeChain will be empowered by one of the world's premium RFID innovators (Innov) and will utilize its unique hardware to meet the growing needs of signed customers.

Partnership : Nov 2017

Jiangsu Printed Electronics Co., Ltd


For VeChain to achieve its apotheosis and become a global business ecosystem, we need to partner with reliable strategic technology partners along the way. It is with that understanding that we sought out one of the most influential innovation companies as a core partner in developing the hardware for VeChainThor: Jiangsu Printed Electronics.

Jiangsu Printed Electronics Co., Ltd. was founded in China, by the "Father of Global Flexible Electronics", Professor Zhang Xiachang, in 2011. With a central focus on advanced technology in printed batteries (paper batteries), Jiangsu Printed Electronics has developed an integrated platform for improvement research, app development and investment in printed batteries.

Autonomously developed by VeChain, the NFC/RFID smart chip represents one of the core technologies when developing our IoT ecology system. It is imperative that VeChain continuously strives for solutions regarding the expansion of service life within batteries for smart chips.

As the leading enterprise for flexible battery technology, Jiangsu Printed Electronics Co., Ltd. is world-renowned for developing compact, flexible, thin and highly efficient products. The flexible batteries produced by Jiangsu Printed Electronics Co., Ltd. have provided tremendous technical capability within VeChain's smart chips.

Strategic Cooperation : Nov 2017

madeforgoods


The pioneer of QR code industry, madeforgoods, has established a strategic cooperation agreement with VeChain. Both parties agreed that they would further integrate blockchain technology into QR code technology and apply blockchain technology into supply chain management for the provision of better products and anti-counterfeiting tracing service for more companies.

Fanghuwang


VeChain has signed a partnership agreement with Beijing Baisheng Technology Co., Ltd to assist one of its subsidiaries - Fanghuwang - to improve overall effectiveness as an online provider of banking financial products.

Fanghuwang is a leader in real estate financing services. Its main focus is on providing property mortgage loans to SMEs (small and medium enterprises). Since established in late 2015, Fanghuwang has gained around 20 billion RMB loans for almost 10,000 SMEs. Their service has geographically covered Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Wuhan, Suzhou, Chengdu, Xiamen, Tianjin and other large cities in China.

As of today, Fanghuwang has provided risk assessment for +40,000 SMEs in China. They have approved +12,000 SMEs in obtaining financial liquidity, while acquiring over 22 billion RMB / 3.3 billion USD from well-known banks in China (ICBC / China Construction Bank / China Citic Bank / China Mingsheng Bank / etc). Fanghuwang is one of the fastest growing online property-related financial service companies. It is estimated that by the end of 2018, the cumulative transaction size of Fanghuwang will reach 100 billion yuan.

NRCC


Under the guidance of DNV GL, VeChain has signed an exclusive strategic partnership agreement with NRCC to develop and implement blockchain related solutions across their business network. This partnership focuses on developing solutions for China's tobacco industry via their partnerships with the State Tobacco Monopoly Administration and the China National Tobacco Corporation.

VeChain will be providing proof of origin and anti-counterfeit technology to track Chinese produced tobacco products throughout the entire supply chain. This partnership came into place as China announced a crackdown on smuggled counterfeit cigarettes. China's tobacco market accounts for roughly 30% of the world's total consumption of cigarettes and is the world's largest manufacturer of tobacco products measured in revenue.

NRCC (National Research Consulting Center) is among the most prestigious consulting companies across China. NRCC serves as a China Enterprise Confederation Management Advisory Committee Executive Committee Member and a China Association for Certification and Accreditation Advisory Committee Member. They are also the first of its kind, within China, to have gone through the International Quality Management System Certification process.

NRCC specializes in the professional development of domestic companies, or organizations, that actively seek international standards and approvals. With +100 senior consultants recognized as partners, NRCC's core business covers management consulting, industrialization and information consulting, lean change consulting, information technology, advanced training.

NRCC serves +1,000 long term enterprise clients, in the following industries: Government Administration, Tobacco, Automotive, Agriculture and Food, Financial Services and Insurance, Pharma/healthcare, Property development and construction, Oil / Gas, Energy/Electric Power, Manufacturing.

AssetLink


AssetLink is a Joint Supply Chain Management Application between Xiamen Innov, CoreLink, and VeChain.

Innov is a premium high-end RFID manufacturer. Innov's products include high-end flexible printed circuit boards, IC package substrates, unique electronic materials, RFID tags, RFID readers, radio frequency antennas, power adapters, and more. Among its partners : Coca-Cola, Hyundai, Samsung, Lenovo, Huawei, Apple, Dell, Asus, etc.

As a strategic partner with Aliyun, Alibaba's global cloud computing subsidiary, Smart CoreLink offers hardware supply chain services, application software development services, cloud platform software services, cloud computing partners, and communications operator partners to their clients.

Together, Xiamen Innov, CoreLink, and VeChain have finished the development of the first version of an enterprise level decentralized application (dApp) that will utilize the combination of IoT technologies, blockchain, artificial intelligence and cloud technologies to be used by enterprises to track physical assets, inventories, and corresponding outputted data. This decentralized application is named AssetLink Manager.

The solution will provide smart contract, transaction, subchain and data aggregation management, as well as the integration of Distributed Data Vending. Xiamen Innov and CoreLink see this dApp as a true competitive advantage and are already seeing results from this innovation.

AssetLink is the first enterprise-grade supply chain management solution presented on VeChainThor, and will be among a multitude of solutions applied across industries and marketed to enterprises in the coming months.

Strategic Partnership : May 2017

PwC


PricewaterhouseCoopers (PwC) is a multinational professional services network headquartered in London, United Kingdom. It is the second largest professional services firm in the world, and one of the Big Four auditors, alongside Deloitte, EY and KPMG. Vault Accounting 50 has ranked PwC as the most prestigious accounting firm in the world for 7 consecutive years, as well as the top firm to work for in North America for 3 consecutive years.

PwC is a network of firms in 158 countries, 743 locations, with +236,000 employees. As of 2015, 22% of the workforce worked in Asia, 26% in North America and the Caribbean and 32% in Western Europe. The company's global revenues were 37.7 billion USD in FY 2017, of which 16 billion USD was generated by its Assurance practice, 9.46 billion USD by its Tax practice and 12.25 billion USD by its Advisory practice. PwC provides services to 422 out of 500 Fortune 500 companies.


"PwC China and PwC Singapore (PwC) are delighted to announce that VeChain S.E.A. (VeChain), a Singapore incorporated blockchain service provider, becomes a portfolio company of PwC's incubation programme. This incubation programme will help VeChain to accelerate their development, by providing the company with access to the Hong Kong and South East Asia markets and strategic advice leveraging on PwC extensive global network."


Raymund Chao, the chairman of PwC Asia Pacific and Greater China : "We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain's mission aligns with PwC's purpose of solving important problems and building trust in society."

Partnership : Sep 2016

Kuehne & Nagel


Kuehne + Nagel International AG (or Kühne + Nagel) is a global transport and logistics company based in Schindellegi, Switzerland. It was founded in 1890, in Bremen, Germany, by August Kühne and Friedrich Nagel. It provides sea freight and airfreight forwarding, contract logistics, and overland businesses with a focus on providing IT-based logistics solutions. In 2010, Kuehne + Nagel was the leading global freight forwarder, accounting for nearly 15% of the world's air and sea freight business by revenue, ahead of DHL Global Forwarding, DB Schenker Logistics and Panalpina. As of 2017, it has +1,336 offices in 109 countries, with around 75,876 employees.


The partnership with Kuehne & Nagel is the largest application of blockchain technology for industrial use to date, bringing to the forefront the ability of blockchains to secure, track and identify property, making theft difficult, if at all practical, and easily addressing fake goods trade.

Trusted IoT Alliance


The Trusted IoT Alliance is about connecting and securing the next generation of smart IoT products with blockchain technology for a more trusted, secure and scaleable internet of all things.

VeChain is a Founding Member of the Trusted IoT Alliance, alongside enterprise members like BNY Mellon, Bosch, Cisco, Telekom, Siemens, etc.

Conclusion


Long story short, I believe that VeChain is, without a shadow of a doubt, one of the best investment oportunities of a lifetime.

Disclaimer : I have invested into VeChain. My opinions should NOT be considered as investment advice. Please do your own research / make your own decisions.

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