VeChain is a blockchain platform with logistical purposes. The main ones are confirming the authenticity of products and giving origin information about the product. This is done by means of a chip in the product which can be read as soon as you keep your phone with the product.
VeChain starts in 2015 as a project that combines blockchain with RFID technology to optimize supply chains. Recently CEO Sunny Lu has raised the bar and VeChain is now striving to become a platform for other companies to build applications. VeChain is based in China with a team of 85 people.
In February 2018, VeChain changed its name and adopted a new name. It is now called VeChain Thor, but most people still know VeChain just under the actual name. However, the addition does have meaning. By using Thor Power (THOR), VeChain can now also give companies the opportunity to create their own applications that can become active on the blockchain, together with VeChain.
For a successful crypto coin it is important to conclude many partnerships. VeChain has built up an impressive list of partners and new ones are added regularly: ● Price Waterhouse Coopers ● DNV GL ● China Unicom ● Renault ● Hyperledger ● Chinese government ● China unicom ● Healthcare Co. Ltd ● BMW
The total circulation consists of 86 billion VET coins.