The VeChain Thor Blockchain has officially launched according to the company announcement. VeChain is a blockchain project, aimed at creating and managing data on products and goods in supply chains.
VEN migration was supported by such cryptographic exchanges as Binance and Bithumb. The process should be finalised in a few weeks time. VeChain was launched in 2016 to facilitate the creation and management of data on products and goods in supply chains, making the process more transparent.
Why VeChain is the most effective method of counterfeiting:
- The platform assigns a unique identifier to the product, which is stored in the blockchain and placed on the product with an NFC chip, an RFID tag or a QR code;
- The platform allows tracking of deliveries at any stage from production to receipt by the end-owner of the goods;
- In the test phase of VeChain application, among those involved were several well-known companies and brands that operate in the field of logistics, pharmaceuticals, automotive industry, luxury goods, fashion industry and wine producers.
VeChain’s key difference from other crypto networks is the platform’s purpose to pool all sectors together. It allows users to send cash on a peer to peer basis, while monitoring and tracking agriculture, retail, auto and information on other sectors using its public ledger. The platform gives retailers and consumers the ability to determine the quality and authenticity of products.
By Ekaterina Ulyanova