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Why you should be bullish on VeChain
First off, lets address to everyone, what is VeChain? According to Investopedia, "VeChain is a blockchain platform designed to enhance supply chain management and business processes. Its goal is to streamline these processes and information flow for complex supply chains through the use of distributed LEDGER technology (DLT)." This is a blockchain and IoT project, two industries, together growing rapidly to $2.6T USD by 2026. Astonishingly, This is the project that will power China's Belt and Road Initiative, or to put simply, a Chinese controlled global silk road.
What is VeChain and what is it for?
After numerous premine and a subsequent build-up, VeChain officially launched on January 26th, 2018. According to their website VeChain is: "the first-ever decentralized ecosystem designed specifically for supply chain management (SCM) of the future." Here's how they say they "solve" their problems: Distributed ledger technology (DLT) for securing transactions in supply chains; Geographic transparency with a public ledger that's distributed to all stakeholders across the supply chain; Verified on chain operations with a Merkle tree structure; System of record to streamline processes and information flow for complex supply chains. They started their ICO on September 19th, 2017, followed by their token sale on December 5th, 2017 and ended on January 20th, 2018.
Why VeChain May Be The Next Big Coin
Although it is still in development stage, VeChain is already attracting big investors and moving forward with their vision to become the market leader in blockchain and IoT. For instance, in late April, the team announced they will be hosting the first Blockchain Start-up Conferene in New York City this fall. The conference will bring together major VC's, business leaders, blockchain enthusiasts, and blockchain entrepreneurs in one place to talk about what's next for blockchain and IoT.
VeChain and The Belt and Road Initiative
In July 2017, China, the world's largest global economy, unveiled the first phase of the Belt and Road Initiative (BRI), which aims to expand economic and trade ties between Asia, Africa, Europe and beyond by building a network of transportation, energy and other infrastructure projects. The initiative "aims to promote economic integration and trade, establish world-class trade, finance, and economic, social and cultural networks, as well as new models of cooperation, and boost co-operation and mutual learning between countries along the BRI. This includes all the land and sea routes along the corridor" Why is VeChain a good fit for this initiative? It does a lot of what China needs, management of complex supply chains. With this project affecting over 5-6 billion people by 2050, you see easily how massive VeChain can become, in the future, the majority of the market cap of this will be reflective on the output of this, which can reach in the multiple of trillions of dollars. Assuming VeChain hits $8T in 2050, the price of one VET would be about $125, a 1,642.6x increase from today's $0.076. Putting 2,000 dollars today, assuming these gains in 2050, you'd have $3.2M in 2050
Conclusion
Using the Blockchain and Internet of Things, Let's say the platforms can operate without the need for a middle man, imagine a programmable commodity like an ounce of gold. Imagine getting your gold from VeChain instead of a storage location somewhere. As I have pointed out in my previous article about Bitcoin, as blockchain improves the current antiquated process of receiving physical gold, and third parties are required, it can further diminish demand for physical gold. This could be a brilliant way to bring physical gold into the 21st century, as well as generate digital gold and business opportunities, while also creating massive wealth.
