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WHY VET IS A SLEEPING GIANT?
- What is VET?
VeChain Thor is a supplychain based token which plans to resolve the problems of authenticity and originality of products. Using blockchain to connect products with consumers, VEChain has evolved from this to an internet of things token layer which tracks assets on the blockchain coupled with smart contract layers.
It has two token system in which VET token is the store of value token and Vtho is the power and energy used for the transactions.
It has a proof of stake model that is Proof of authority and you earn VTHO just for holding VET in specific wallets. It uses the two token system to keep the value of the tokens stable.
- What is the use case/cases?
Supply chain management is the biggest use case of Vechain and it should be enough of a use case since this is resolving one of the biggest problem in supply chain with authencity and originality of the products. This will help customers in understanding what products they own straight away as the tracking and tracing will be done through Vechain’s 101 authority nodes.
- Advantages
They are already working in the industry, by that I mean that companies are already using it in there environment. They have a lot of investors in VET and also big names.Their environment needs a KYC if you want to run a node to be proof of authority. So that makes it really secure and makes it able to use NFC, RFID and QR Code technology. Proof of authority allows 10,000 transactions per second which is what is required by the industry. The 2 token system makes it less volatile as VET is smart money and VTHO is power for the transaction on the smart contracts layer making them two separate entities and less likely to have any effects on the prices. Being a smart contract blockchain, they are also able to provide DAPPS.
- Partnerships/Customers
Their partnerships have been amazing including big names likes PwC(BIG $ in Auditing), DNV: GL( in the business of certifying billions of $ in revenue. These company are the investors and have huge clientele in the world. It’s in their best interest to help this blockchain grow. They have brought a lot of clients to the boards including Renault, Haier, BYD which is a car manufacturer in China. They have great relationships in China including energy companies like Shanghai Gas. They are also being used in Food Safety as they have partnered with Walmart China to trace food products. They have partnered in retail industry including Loius Vuiotton and H & M. So heaps of partnerships and clients already including Healthcare. They have partnered with Renji hospital to launch world’s first blockchain intelligent tumor treatment center. Mediterranean Hospital of Cyprus is utilizing Vechain Blockchain to store vaccination records. Even the head of the Salesforce’s Blockchain is talking about it on Linkedin giving a full case study.
5.My Views
If all of this news and use case is not enough I dont know what will be. Because Vechain is sitting at rank 24 in the crypto market. With this price right now of 0.12, it is hugely undervalued. I would say Vechain is going to be one of the top 5 crypto in years as they are going to be used in the digital economy anyway. The list of partners and clients is a great indicators and they are already used in the real world.
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