VeChain, which has not even a year old history, showed rapid growth in a short period of time by mentioning its name with the partnerships it has established and became a focus of interest. What is VeChain, how and from where?
Utilizing Blockchain's open, decentralized architecture, the VeChain platform transforms into a reliable, scalable, and distributed business environment that works without any central authority and ensures that all necessary information about a product is accessible to authorized people.
Real World Problems and Vechain
How VeChain works, how it works, how it works, how it works, how it works,
Fake and sub-standard drugs are one of the biggest challenges in the world.
A US-based pharmaceutical company, patented, manufactured exclusively in the US factory and shipped to all parts of the world, can be understood with an example of a real world scenario.
Even if the drug travels on the other side of the world, various requirements may be needed for specific transport, transport and storage.
For example, if the package contains zero to four
First of all, the reality of the drug's package and its content has always been one of the most important issues
How Vechain solves this problem
VeChain follows the method of asset digitization to find solutions to these problems.
VeChain has unique identities with the ability to record and publish information at every stage, such as producers, RFIDs and sensors allocate products with
This information is recorded in the public VeChain Blockchain.
The drug manufacturer can set a unique identifier for each of the drug packages, such as the VeChain compatible RFID tag, so that the drug given by the company can be delivered to the consumer until it reaches the consumer.
This RFID information can then be made available in Vechain's Blockchain.
Thus, using a special VeChain RFID reader application running on all mobile phones, the consumer can understand whether the medication he or she is receiving is genuine,
Placing the RFID tag at an appropriate place in the drug package removes the possibility of tampering with the content of the drug package.
These RFID tags can be equipped with intelligent sensors that can record all the necessary information in real time and publish VeChain on the Blockchain network.
Similarly, if a carrier is receiving a pack of medicines through an airway at an unacceptable altitude, altitude sensors will alert, He'il save it to Blockchain.
VeChain and business sectors
While the above example illustrates the effective use of VeChain in supply chain management and quality control,
As the Ethereum platform supports the operation of various decentralized Applications (dApps), VeChain can help to organize many business activities in various sectors by using Blockchain supported cloud services with IoT (Internet of Things) devices.
In the automobile industry, the details of a car can be uploaded to the Blockchain by the manufacturer, and then the car service is delivered to the car carrier, All information regarding the exchange of parts and their origin, accidents, theft records and even insurance details can be placed in Blockchain
This information is vital for various parties including insurance companies, service partners, authorities and even car dealers
VeChain can also be useful in the agricultural sector, providing accurate and real-time data collection and surveillance of the farm environment that helps produce superior farms.
Such monitoring is possible with the IoT devices being developed by VeChain and synchronized with the VeChain platform
VeChin is trading on all leading cryptographic exchanges including crypto currency VEN, BigOne, Binance, COSS and HitBTC
Since VEN is not directly buyable with nominal value, only Bitcoin and
According to CoinMarketCap.com, VeChain (VEN) is ranked 15th in terms of global market value
The VeChain Network is based on Singapore-based, non-profit VeChain Foundation It was founded in July 2017. It currently operates with 111 nodes worldwide. The opening of the main network VeChain is expected to take place in the second quarter of 2018.
VeChain serves businesses in various sectors with Blockchain-based solutions for day-to-day operational problems. With a growing list of business partners including PwC and DNV GL, VeChain is ready to help businesses achieve advanced processing and product control.