Can somebody please explain VeChain's value? Their website is written in another language and auto-translate wont work...

Can somebody please explain VeChain's value? Their website is written in another language and auto-translate wont work. From what I can find, their greatest value is working with food transport to ensure temperatures and conditions of food are adequate. Also they can verify goods that are suspected to be counterfeit. Thanks

Other urls found in this thread:

bikaifa.com/guizhou-to-build-blockchain-town-with-bitse-in-guian-district
cdn.vechain.com/vechain_national_government_partnership_guian_release.pdf
vechain.99on.com/airdrop
twitter.com/SFWRedditImages

lol idk nigga just buy the shit

the revolution of bitcoin is solving the double spend problem, aka creating new money out of nothing
blockchain is therefore an anti-counterfeit system
vechain uses blockchain to verify the authenticity of goods
vechain specifically has huge potential value because of the many partnerships it has with chinese companies

How does it do that, why is it necessary and why the fuck does it need a token?

it does it by recording the manufacturing and supply chain info for the goods onto the block chain
the token is used to pay node runners
companies around the world lose 500 bil per year to counterfeit goods
they will be willing to hire vechain to secure their goods on the blockchain
part of the company's payment will be to the node runners who verify the blockchain in a proof of stake system

do you see this going up in the next 5 years?

yes
vechain has partnerships with
china tobacco
price waterhouse coopers
and many more companies soon to be announced

They have a 2-token system. The VEN token can be staked for 2 purposes:

1. To validate transactions and other information

2. To generate the 2nd token, THOR, which will be used to pay transaction costs within the blockchain.

This is likely to create situations where all the enterprises interested in using the VeChain system will buy VEN in large amounts in order to cheaply generate their own THOR supply.

All this information is pretty readily available.

The real reason for VEN's value isn't just their idea though. It's that the list of groups interested in ACTUALLY USING it reads like a "who's who" of internation/Asian business.

PWC (A "big 4" auditing/accounting firm)
DNV GL (A Norway-based registrar for various industries, worth multiple billions)
China National Tobacco (largest tobacco producer in the world)
Kuehne & Nagel (One of the largest shipping companies in the world)
And a few others who are not quite as notable but still large.

VeChain has very close ties to China's National Government. They have been contracted, as part of China's 5-year plan, to build a blockchain-enabled city called Gui'an New Area. If this prototype is successful, VeChain's system will be rolled out to ALL OF CHINA.

>They have been contracted, as part of China's 5-year plan, to build a blockchain-enabled city called Gui'an New Area

source?

So you're telling me the Chinese of all people are developing a product that would make counterfeiting a lot more difficult and less viable?

bikaifa.com/guizhou-to-build-blockchain-town-with-bitse-in-guian-district

BitSE was a startup that later split into VeChain and QTUM

also

bikaifa.com/guizhou-to-build-blockchain-town-with-bitse-in-guian-district

There are other sources floating around, but they're in Mandarin, so they're harder to find, but I'l keep looking.

cdn.vechain.com/vechain_national_government_partnership_guian_release.pdf

wrong second link

jesus do some fucking research you inbreds
you people are hopeless

ur probably a bitconnect member

No idea but someone here said that China is going to make it their official currency and the marketcap will reach trillions due to this so I bought 3K. Hopefully that actually happens lol

Fucking hell google it.

All I’ll say is that their logistics/tracking for luxury goods is just a proof-of-concept of their tech to court more partnerships, which they have done and will be announcing in full during their rebranding event when they reposition themselves as a blockchain service company.

kek'd

thank you

Yes? Who would have more experience with it, and more use for such a thing? Also, OP, all you need to know is that vechain is enterprise grade Ethereum

I feel like the whale suppression meme is just that and I'm going to watch my money continue to shrink

Yeah, man.

1) Generate a GUID (unique, of course) for a product.
2) SHA256 hash this GUID
3) Put the hash on an RFID chip or other tracker
4) Put the chip/tracker on the product
5) Put the GUID, Hash, Product Info in the Blockchain

You now have a guaranteed way to check the blockchain that your item is real, or at least really registered by the company and you can assume it is not counterfeit.

Because, you know, a 256-bit hash has about as many possible combinations/keys as there are atoms in the entire universe.

So basically, you have 1 in an atoms-in-the-universe chance of created a forged chip/tracker that actually matches the GUID of the product. You can't even physically brute force that in this universe because matter states can't even change that fast.

They will of course be compromised by a deliberate and complex inside counterfeit ring. They will be infiltrated by communist Chinese who will steal their tags and put fake info into the block chain because the company will overlook simple physical security like keycards, CCTV, gates, lightning, or they will give some low level low paid clerk $20 dollars per fake tag.

IT IS FUCKING DOOMED.

How is this different from when I buy a Xiaomi product, it comes with a QR code I can scan. The code is then checked on their website for uniqueness.

Why the fuck is a blockchain needed for this

Immutable ledger
no single point of failure

this

Did u hear about the upcoming VEN / Thor split ? They're doing a giveaway: vechain.99on.com/airdrop

haha that looks good sir
yes everyone please click sir
it's a real giveaway sir

>that
fuckin pajeets man.

nice link. didya get yer vets? im excited !!

There are now a handful of other RFID-based coins in the cryptocurrency market—Ambrosus, Vechain, Wabi, etc—and while they are all involved with tagging items on the blockchain, they all have one thing in common apart from Waltonchain: they do so through API.

When collecting data from the outside world via RFIDs, that data must first be fed through API before being written to the blockchain. This means all the data is first passed through a centralized intermediate. The blockchain is implemented in the application layer, through business-centralized control, and as such, the system cannot be trustless.

Waltonchain bypasses this problem completely. They have developed RFID chips that write directly to the blockchain on their own, without any human intervention, guaranteeing the data is fully reliable with a decentralized, trustless system. They implement the blockchain through the RFIDs themselves, at the foundational layer. This technology is patent-pending, which will secure Waltonchain as the only blockchain that connects the physical world with the virtual world with truly reliable data. This positions Waltonchain as the optimal Internet of Things (IoT) platform. This also allows for the true authentication of items, which makes Waltonchain the best solution for tackling the counterfeit goods industry.

you can also just click "English" on their website, helps a bit

lel

salty

walty

Disprove what i wrote then. You cant cant because you hold centralized shit. gl

you disprove what I wrote
disprove me disproving you fagboi

>disprove what i wrote
>wrote pasta

why do venbros and waltbois fight constantly. if one moons all the others will too.

Walton gonna show you cucks what's up screendoge this

how is the walton token valuable?

also how is the smart city partnership gonna make the VEN tokens moon? i don't see anything mentioned about the tokens, i guess vechain can sell their base technology without businesses having to use the tokens

Every transaction on blockchain expends walton tokens, the more value token has the more kb they can send, You also need Masternode to run childchain, and all companies will run on their own childchain. Childchains make Waltonchain scalable

Need them for masternodes

What if Vechain encrypt the data before feeding it to the API?

Still centralized, therefor not trustless