Project Update: Vechain (VET) the Product ID Management Solution on the BlockChain
HI,
I am Crypto Coins and I make videos.
Today I am doing an update video about Vechain (VET)
Vechain is a trust-free, complete and distributed business ecosystem based on the blockchain technology.
It focuses on variety of different solutions for different markets including liquor, luxury goods, retail, agriculture and logistics. Scope wise the project is huge with plenty of different solutions incorporated.
Usage wise Vechain combines blockchain, IoT (Internet of Things) devices, unique IDs and NFCs (near field communication)
Vechain uses two token system VET and THOR POWER. The closest comparison would be NEO/GAS.
The function of the VET is to serve as the smart payment currency, to enable rapid value circulation within the ecosystem based on the VeChain Blockchain
On the other hand, the THOR Power 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.
Vechain is famous from it's partnerships and they have been constantly providing new significant updates. Recent partnerships: Yida Group (7th biggest real estate developer in China), 188 Business Alliance Association (small and medium sized businesses in Australia), iTaotaoke (intellectual property protection).
The team recently had a series of great AMAs and also provided financial executive report.
First official public infrastructural dApp, VeChain Digital ID and KYC system - VeVID was annouced. Also X Nodes
Follow me on social media:
Telegram: https://t.me/crypto0coins
Twitter: https://twitter.com/Crypto0Coins
Facebook: https://www.facebook.com/crypt0coins/
Steemit: https://steemit.com/@dmae