/biz/ - Business & Finance

If past is prologue, and since bitcoin is still on the move, then, like 3 years ago, shouldn't we anticipate, even at least consider the remotest possibility, that a parallel altcoin pump is waiting to occur once the bitcoin pump is over?

Makes you think, no? (If /biz/ is capable of thinking, unsure)

If Bitcoin could be termed “digital gold” and Ethereum “digital oil,” then VeChain might be considered one of the first “blockchain engines,” or real-world applications of the concepts enumerated by Bitcoin and Ethereum. VeChain aims to revolutionize how products travel through the supply chain; making it easier for manufacturers, vendors, and consumers to collect, manage and share product information throughout a product’s lifecycle. Think of VeChain as an omniscient air-traffic controller for the global supply chain—perfect for the ongoing digital transformation of theFourth Industrial Revolution. For a more detailed technical explanation of how this complete and trusted supply chain operates, I highly recommend VeChain’s dev paper

VeChain’s technology is based on using embedded RFID/NFC/QR identification to track products throughout the supply chain. All products are chipped in such a way as to provide secure, tamper-proof recording of the quality and authenticity of products. At any point during a product’s lifecycle users can interact with its tag to find information. Applications include anti-counterfeiting, food safety, distributed data storage and inventory tracking/logistics. VeChain’s sensor technology can also record information related to temperature and humidity, providing value-add beyond a simple product code.

The Chinese government has chosen VeChain as the blockchain technology partner for the government of Gui’an, an economic-development zone directly controlled by the Central Government, for the purposes of e-government systems. If successful, it is highly likely that these systems could be scaled nationally. Remember the power of the Chinese domestic market: Chinese consumers use WeChatnot WhatsApp, Baidu not Google, and Alibaba, not Amazon. For blockchain, the Chinese government has officially designated VeChain as its partner. Draw your own conclusions