My Story (VeChain)
VeChain is a blockchain platform designed to enable businesses to easily track and manage the flow of products and information. It was founded in 2015 by Sunny Lu, who had extensive experience as an IT executive in China’s luxury goods industry. VeChain seeks to build trust through its innovative technology that addresses both efficiency and security concerns for business transactions. The platform connects businesses with their customers, suppliers, partners, and employees through a distributed ledger network powered by smart contracts.
The platform enables users to quickly integrate traditional business processes into a blockchain-based system without the need for expertise or specialized hardware or software solutions. This makes it easier for companies of all sizes – from small mom-and-pop shops to large multinational corporations – to connect their existing infrastructure with the blockchain and take advantage of secure data storage and verification services offered by VeChain’s decentralized network. In addition, VeChain provides integrated tools such as market analysis capabilities, product lifecycle management systems, supply chain optimization features, customer loyalty programs and more that allow organizations to optimize their operations while maintaining high levels of security throughout the entire value chain.
The VeChain Token (VET) is used on the VeChain Thor Blockchain as gas for executing smart contracts on this public blockchain protocol designed specifically for enterprises applications needs . VET tokens are used within transactions between nodes on the network which pay transaction fees denominated in VTHO which is generated from holding VET tokens over time . As part of its commitment towards building trust across industries , Vechain has also developed a number of enterprise level partnerships including BMW Group , Walmart China , DNV GL , Microsoft Azure & PwC among many others . With such established partnerships under its belt , it goes without saying that any project built using vechains thor blockchain will be backed up by some major players in different industries which adds further credibility & adoption potential going forward .
