What is VeChain?

What is VeChain (VEТ)? VeChain is a global information transformation platform based on blockchain technology. It connects real people, products, or events by associating the API with the application level of the system. By utilizing tamper-proof and distributed ledger technology, VeChain provides retailers and consumers with the ability to determine the quality and authenticity of products that are bought. From product source materials, to servicing history, and spare part replacements, every single piece of information about the supply chain movement of a product can be recorded and verified to bring about a supply chain management ecosystem that is secure for all participants.

The history of VeChain began more than a decade ago, in 2007 as a project, which launched its coin in 2015. VeChain partnered with various companies which were doing business either in agriculture, luxury goods, food/drugs, or logistics. It also got connected with the state administration. VeChain further established its offices in Paris, Tokyo, Singapore, and Shanghai. VET became the 16th most valuable digital currency in the month of January 2018. In the same year, VeChain launched its own blockchain called VeChainThor.