Internet of Things (IOT), Business Platform, Smart Contract Platform
VeChain is a blockchain-based platform that focuses on providing enterprise solutions for supply chain management, product lifecycle management, and data authentication.
It was founded in 2015 and is based in Singapore. The VeChain platform uses two tokens: VET (VeChain Token) and VTHO (VeThor Token). VET is used to store value and transfer value between users, while VTHO is used to pay for transactions on the VeChain blockchain.
The VeChain platform is designed to provide businesses with a secure, transparent, and efficient way to track their products throughout the entire supply chain process. This includes tracking the origin of raw materials, production processes, transportation routes, storage locations, and more. By using the VeChain blockchain technology, businesses can ensure that their products are authentic and safe from counterfeiting or tampering.
Additionally, businesses can use the platform to create smart contracts that automate certain processes such as payments or delivery of goods. The VeChain platform also provides businesses with access to data analytics tools that allow them to gain insights into their supply chain operations. This includes information about product performance, customer satisfaction levels, cost savings opportunities, and more.
By leveraging this data analytics capability, businesses can make better decisions about how they manage their supply chains. Overall, VeChain is a comprehensive blockchain-based platform that provides enterprise solutions for supply chain management and product lifecycle management. It enables businesses to securely track their products throughout the entire supply chain process while also providing access to data analytics tools that allow them to gain insights into their operations.