VeChain aims to implement blockchain-based solutions in order to improve the transparency and traceability of products within the supply chain industry. It aims to overhaul food safety, product traceability in the fashion and luxury industry covering the lifecycle of products, introduce tagging technology and encrypted chipset and a vehicle passport project to record user data in the automobile industry. VeChain will also be providing proof of origin and anti-counterfeit technology to track Chinese produced tobacco products throughout the entire supply chain.
Vechain is tackling the authenticity of items by utilizing RFID chips to tag items such as luxury brands to see if the item is authentic or not. It solves the problem of the Chinese knockoffs as their quality has become so high that it’s difficult for luxury brand employees to know if they are fake or not. The VeChain tag will eliminate the problem of returns for brands as the tag will confirm if the product being returned is authentic or not.
A list of the impressive partnerships VeChain has made include PWC, DNV GL, and Kuehne & Nagel: Open the following link to see a full list: https://bitshouts.com/vechain-partnerships-ven-dapps/
More detailed info on Vechain’s roadmap: https://dailyhodl.com/2018/05/20/vechain-releases-ambitious-new-whitepaper-and-roadmap-targets-supply-chain-logistics-cars-iot-agriculture-government-affairs-blockchain-ids-and-more/
Lastly, Jim Breyer announced in January that Breyer Capital is now to act as an advisor to VeChain: https://medium.com/@jimbreyer/announcing-our-vechain-advisory-role-5e37b7722978
VeChain looks like smart speculation in our view. The market cap is $1.88 billion and the VEN token trades at $3.57.