What is VeChain (VET), Utility Token
Rancakmedia.com – Do you already know about What is VeChain (VET)? If not, you can find out in the article below.
One of the most common is the practice of selling and buying counterfeit goods. The good news is that the problem of buying and selling counterfeit goods can be solved with the presence of VeChain's anti-fraud technology.
What is VeChain (VET)
VeChain (VET) is a blockchain-based platform intended to enhance supply chain management operations. To ensure that the goods they sell are of high quality and genuine, VeChain uses distributed ledger technology that is not easily tampered with.
From the product's source material, service history, replacement parts and any information regarding the movement of a product's supply chain can be documented and validated to establish a safe supply chain management environment for all users.
Sunny Lu, the brains behind this project, started it in 2015 with the aim of creating a decentralized and trustworthy business ecosystem platform. This enables clear flow of information, efficient collaboration and high-speed transmission of value.
In addition, the VeChain (VET) platform uses two tokens, namely VET and VTHO. VET generates VTHO and acts as a store of value and a medium of value transfer. Meanwhile, VTHO is used to pay for gas fees, eliminating the need to issue VET when writing data.
Founder of VeChain (VET)
The founder of VeChain is Sunny Lu, former CIO of Louis Vuitton China. In 2015, Sunny founded the business.
Untuk mengontrol rantai pasokan dengan lebih baik, ia menerapkan pengetahuannya tentang pengumpulan barang mewah dan teknologi blockchain untuk mengembangkan application IoT (Internet of Things).
Until now, Sunny Lu, remains the CEO of VeChain through a non-profit company called VeChain Foundation.
Advantages of VeChain (VET)
VeChain, instead of being a general purpose blockchain, is developing in a unique way. Its structure is intended for the transfer of goods and services across the supply chain, making the token a VET, i.e. a utility token.
In addition, the network offers a two-token structure, where one type of token can be used to finance projects and the other to enhance the blockchain network.
Another benefit of VeChain is that the platform is very important in terms of relationships, having joined forces with PricewaterhouseCoopers (PwC) who have helped market the VeChain blockchain to consumers.
If you want to know VeChain price predictions, you can easily find it in the articles we have prepared before.
Conclusion
VeChain (VET) is a blockchain-based platform intended to enhance supply chain management operations. To ensure that the goods they sell are of high quality and genuine, VeChain uses distributed ledger technology that is not easily tampered with.
Thus the article about What is VeChain (VET), Utility Token. Hopefully the above article can be useful and helpful for all of you.
