Build a trusted business environment through synergy and transfer of transparent information
VeChain Financial Executive...
Transparency, Fairness, OpennessWith the purpose of fostering transparent communication on our accomplishments on creating tangible economic value by blockchain technology, we hereby present the tenth VeChain Foundation Financial Executive Report, covering the period from Nov 2019 through to Jan 2020.During this quarter, an updated VeChain Foundation Governance Charter was approved by the Steering Committee, which serves as a giant step further towards a decentralized public blockchain with the capacity to scale, and at the same time complying with regulators, governments and to meet the needs of large enterprises. Another milestone release, VeChain Whitepaper 2.0 went live to reveal detailed insights of VeChain’s strategies and benchmarks of our achievements. With the aim of maximizing the efficacy of blockchain technology, VeChain has successfully moved past this crucial first phase of blockchain technology adoption, and is primed for the next phase to achieve Business Consensus.As always, we sincerely welcome the community to hold us to the commitment of transparency, including but not limited to the rigorous monitoring and usage of our funds, and the development process of all aspects within the VeChain Foundation.The report structure is as follows:1. VET Supply Overview2. VeChain Foundation Expenditure (use of proceeds)3. Notesi) Enterprise Investor Poolii) Co-Founders, Development Teamiii) The Operation, Technological Research and Developmentiv) Business Developmentv) Compliance & Legalvi) Ecosystem Development1. VET Supply OverviewAccording to the final result of the all-stakeholders voting which ended successfully on 10AM December 30, 2019, the community made the decision to implement the block list related to the Foundation buyback wallet theft to be permanently introduced in VeChainThor Blockchain, and to permanently take 727,593,289 VET out of the circulatory supply. As communicated recently, the Foundation buyback plan will still continue and more updates will be announced in due course.As of Jan 31, 2020, the VET total supply on the VeChainThor blockchain decreased to 85,985,041,177, and the circulating amount is 64,423,896,728 which accounts for roughly 74.9% of the total supply. Within the VET circulating supply, 22,181,253,627 VETs were in the soft-lockups, which makes 25.8% of the total supply. By the end of this reporting period, around 49.1% of the VET total supply is free for trading in the open market.Note:* The soft-lockup categories are as follows:Authority Masternode collateral — each Authority Masternode keeps at least 25 million VETsX Nodes staking — each X node keeps a minimum amount of VETs based on four different tiersEconomic Nodes staking — each economic node keeps a minimum amount of VETs based on three different tiersTeam Lockup — According to the whitepaper, 5% of the total VET supply is allocated to co-founders and development team, and this pool is released quarterly over a two year period. As of Jan 31, 2020, over 3 billion VETs have been locked up by the team to show the commitment to VeChain’s long term success2. VeChain Foundation Expenditure (use of proceeds)We summarized below the USD value of the expenditure in fiat or BTC/ETH for the reporting period. For the spending in BTC or ETH, the USD value was booked based on the rate when the transaction occurred. In many situations our service providers and partners prefer to receive VET as direct payment or investment compared to using fiat or BTC/ETH. Therefore, the total expenditure for operation, technological and business development comprises a combination of direct VET payment and use of proceeds (fiat, BTC/ETH) depending on the associated parties’ preference.3. Notesi) Enterprise Investor PoolIn regards to reaching investment from enterprises, we have been keeping evaluating the offerings on hand and selecting institutional partners who could bring fundamental change, or value, to the long term development of the VeChain ecosystem. Around 18 million VETs were purchased from the enterprises, pouring in more resources into our investor pool. As always, the partners invested in this pool are subject to lock-up and looking at holding the VETs for long term purposes.ii) Co-Founders, Development TeamIn order to deliver better service as a cohesive and passionate team, we have been continuously optimizing the performance review management and incentive program to support the long term success of the project, which led to our decision to distribute 73 million VETs as the tenth quarterly rewards to the team as performance appraisal. During this reporting period, 3 full-time employees joined us in our development team.iii) The Operation, Technological Research and DevelopmentDuring this period, there have been notable improvements announced to the public, highlighting our great efforts in R&D in exchange for huge technological achievements, which is illustrated as follows:Several updates on VeChainThor mainnet code were released to improve the performance and compatibility of the blockchain platform, further enhancing our advantages on business applications.The new VeChain Sync enables Ledger users to use their Ledger in Sync to access their VETs and VIP180 tokens, and also interact with dApps and sign transactions.The VeChainThor Wallet v1.4.3 was released during this period. This updated version enables users to input custom URLs in the Discover tab, switch between mainnet and testnet, and reorder the asset list based on your preference.VeChain Official Explorer went live on December 19 at: https://explore.vechain.org. As the beta version of official explorer, it aims to provide stable and accurate information about blocks and accounts.iv) Business DevelopmentDuring this quarter, VeChain has made considerable progress in terms of partnership accumulation and industry experience. VeChain partnered with DNV GL and ASI Group to initiate Foodgates, the first blockchain-enabled cross-continental logistics and trades solution in the industry. Foodgates aims to provide a world premium, trusted blockchain-powered platform for international buyers and consumers of high-end food & beverage products, safeguarding product quality and safety.Announced partnerships and collaborations (November, 2019 — January, 2019)ASI Group (November 7)Mengku Rongshi Tea (November 17)Anhui Tea Association (December 17)Cointelegraph Consulting (December 4)Highlights from the business development and marketing events (November, 2019 -January, 2020)Sarah Nabaa, General Manager at VeChain SEA, attended the Street Superior 2019 to join the release of a limited edition of Copper Dog whisky designed by local artist Russel Ong, and all 100 bottles were made in total, each featuring a VeChain NFC chip. (November 2–3)Kevin Feng, COO at VeChain, was invited as keynote speaker to attend “Explore Blockchain + The Application 2019” held by Guosheng Research. He shared use cases of VeChain ToolChainTM in the themed speech “How to power real business with blockchain technology”. (November 5)Jason Rockwood, General Manager at VeChain Americas, attended the Gartner Supply Chain Summit to share insights on blockchain adoption in supply chain management. (November 5)VeChain attended The China International Import Expo 2019 (CIIE). Together with DNV GL, VeChain announced a tripartite collaboration with ASI Group to initiate the first cross-continental logistics and trades solution powered by VeChainThor public blockchain for the food & beverage industry named Foodgates. (November 7–8)VeChain won the Most Valuable Blockchain Application Award 2019 issued by CAICT to Food Traceability Platform done by Walmart China, PwC and VeChain. (November 8)VeChain attended The Capital 2019 held by CoinMarketCap from November 12 to 13 in Singapore. All 100 pieces of limited edition series of The Capital Artworks, powered by VeChain ToolChain™, were showcased and gifted to VIP speakers. (November 11)VeChain attended one of the largest FinTech exhibitions in the world, the Singapore FinTech Festival. Throughout the week, VeChain’s team had the opportunity to show enterprise-level use cases based on VeChainThor Blockchain with corporate and organizational delegates, other exhibitors, and around 45,000 other visitors. (November 11–15)Jason Rockwood, general manager at VeChain Americas, represented VeChain at the Sustainability and Digitalization Leaders conference in Miami, and attended the SDL Panel: Blockchain and Agribusiness. (November 13)Microsoft Azure-VeChain Enterprise Blockchain Showcase Event was held on 14 November in Singapore, carrying out presentations on blockchain applications in multiple sectors such as supply chain, logistics, automobile and sustainability. Sunny Lu, CEO at VeChain and Kevin Feng, COO at VeChain were invited to share use cases of VeChain ToolChainTM and experience in blockchain adoption. (November 14)Sunny Lu, CEO at VeChain, attended The Blockshow 2019 held in Singapore and stated that, in terms of monetization of blockchain technology, more valuable transactions and business applications on the blockchain will drive more value for tokens. (November 14)As part of the Innovation Safari Greater China initiated by AccentureDigital, Accenture and their key enterprise clients visited the VeChain office. A workshop for experience-sharing on blockchain adoption was held and the participants were engaged in discussion around possible collaboration opportunities in the future. (November 20)Sunny Lu, CEO at VeChain, attended The Next-Generation Entrepreneurs of Asia-Pacific Conference held by PwC China. He shared experience of blockchain adoption and several application cases built on VeChainThor Blockchain. (November 27)Sunny Lu, CEO at VeChain, together with Renato Grottola, VP of DNV GL , attended Distributed Minds in Milan and delivered a speech on blockchain as a digital enabler for sustainable infrastructure. (November 28 )VeChain announced partnership with Cointelegraph Consulting, a venture of the top cryptocurrency and blockchain news website Cointelegraph, to promote enterprise-level blockchain applications. (December 3)In CHAINSIGHTS Awards, Sunny Lu, CEO at VeChain, was honored as the Most Innovative Blockchain Industry Leader of 2019, and Vechain ToolChain™ was awarded The Most Innovative Blockchain Solution of 2019. (December 8)Kevin Feng, COO at VeChain, attended the workshop held by Accenture, together with Accenture’s Chairman in the DACH & Russia region, Frank Riemensperger and his leadership team. (December 10)Qian Chengcheng, CBO at VeChain, attended the 2nd LOCC Cross-border Transportation Safety and Risk Control Summit held by Lujiazui Institute of Marine Insurance. (December 11)Mr.Yu Jie, Regional Director of Digital Transformation at DNV GL, attended The LinkedIn Leaders Summit-Explore Smart Manufacturing held in Suzhou. (December 18)During the 3rd Belt and Road Initiative (BRI) Forum of Tsinghua University, VeChain, together with DNV GL, The Belt and Road Initiative Research Institute of Tsinghua University, Industry Internet Research Institute, Tus Data Asset, and China Silk Road Group Limited, convened the The Belt and Road Initiative Blockchain Alliance, to connect resources for spurring the development of the BRI by leveraging the blockchain technology. (December 19)In the Industrial Blockchain Summit held by ZiNet and DW Park, VeChain was awarded The Exemplary Project for Industrial Blockchain Adoption. (December 20)Kevin Feng, COO at VeChain, attended the workshop held by European Union Chamber of Commerce in China, which took place in the chamber’s office in Shanghai. The workshop intends to explore the topic: Blockchain As “A Crucial Breakthrough” What Does That Mean And How Does It Work For Your Business In Practice? (January 7)In the 2019 FAT Blockchain Award, convened by the premium media Odaily, Walmart China Blockchain Traceability Platform was awarded The Best Use Case In Blockchain Industry. “QingTanHui”, the digital low carbon ecosystem initiated by VeChain and DNV GL, was awarded The Spotlight Charity Event In Blockchain Industry. (January 9)Kevin Feng, COO at VeChain, attended the inaugural Jiemian Thought-sharing Workshop, a monthly industry event co-convened by Shanghai Advanced Institute of Finance and Jimian News. The event is supported by prominent media, including Cailianshe, Jiemian and ChainNews. (January 12)Sunny Lu, CEO at VeChain, attended the Deloitte Digital & Blockchain Labs held by Deloitte Ireland LLP, in Dublin, having discussions around how blockchain technology is evolving to create innovative business models. During the “Speed-Dating” Session, Sunny sat down with Antonio Senatore, CTO at Deloitte EMEA Blockchain Lab, to share insights with other exclusive guests. (January 16)Sunny Lu, CEO at VeChain, attended the 2020 European Blockchain Convention held on January 20 and January 21 in Barcelona, Spain. Starting with high-level insights on the blockchain industry, Sunny made a successful keynote speech to stress the vision of ‘blockchain for business’. The value of data decides the value of the blockchain and enables the stakeholders to establish a scalable ecosystem for seamless cooperation. (January 20–21)v) Compliance & LegalVeChain hires professional service providers in cybersecurity and legal to ensure products and solutions we offer are secure and compliant with regulations, which we believe is the prerequisite of mass adoption by global enterprises.vi) Ecosystem DevelopmentIn order to provide better support for community developers and improve the quality of contributions incorporated participation, the Foundation team has adhered to the Foundation Grant Program and bounty program, which was being implemented with increasing closer communication with our community. The team continues to evaluate applications and keeps productive discussions with several applicants.
20. 03. 27
An Open Letter From The VeC...
In this open letter, we would like to inform the Community and stakeholders how the COVID-19 global pandemic has affected the Foundation and its operations.Despite the adverse operating conditions, VeChain continues to build. VeChain is a global entity with international operations across 7 major global cities. Our work force has been able to maintain productivity through efficient internal collaboration and digitization. We have been focused on enhancing core infrastructure and delivering improvements to critical elements of our business model including a new version of VeChain ToolChain™.At VeChain, we are building a future where digitization, efficiency, public safety and environmental concerns are central pillars of economic development. It is our opinion that blockchain, 5G, IoT, AI and other advanced emerging technologies will be the fundamental instruments of that time. It is our intent to build the most critical aspect of all: public blockchain.We, The VeChain Foundation, alongside global business leaders such as PwC and DNV GL, will take the lead and deliver this digital transformation.How VeChain Operations Have Been Impacted By COVID-19With more than 177,000 confirmed cases of COVID-19 globally as of March 16th, the growing pandemic has created unprecedented difficulties for the entire global economy.From Global Impact To Our BusinessWith governments of affected countries imposing actions over their respective economies to mitigate the spread of COVID-19, enterprises and businesses have had to take decisive action of their own, resulting in an unavoidable impact to business activity. As a result, project development, meetings and other activities have been mostly suspended, reducing the pace of progress in the short term. We are currently working closely with all clients and partners to solve as many implementation problems as possible, while maintaining safety and risk control.Rest assured, no projects have been cancelled as a result of this current situation. However, whether the current pandemic situation will cause greater and prolonged impact on the global economy is still uncertain. We will keep a close eye on the development and carefully assess any adjustments. Meanwhile, we fully understand how important improving the efficiency, agility and capacity of the team is and we want the best people to form the best team. We will take this chance to spend more time on internal management and resources optimization so that we are prepared for any possible global economic recession for the sake of the long term sustainable development of the VeChain ecosystem. The progress will resume at full speed once the global restrictions have been lifted.VeChain Summit UpdateSecurity and safety is always the top priority for the Foundation. With this in mind, the Board of Steering Committee has made the decision to postpone the VeChain Summit 2020 until the global pandemic is fully under control.The VeChain Team will continue to closely follow the latest developments and disclose updates as soon as we are able in relation to the Summit.What VeChain Is Doing (Blockchain And Operations)We are taking this opportunity to accelerate the speed of digital transformation by focusing on our core software offerings. According to a report from the International Data Corporation (IDC), spending on digital transformation products and services will reach $1.97 trillion in 2022. VeChain is positioned to take a leading role in the building of the evolving digital economy.VeChain ToolChain™ IterationLaunched in 2019, VeChain ToolChain™provides a powerful tool for business owners to quickly integrate the VeChainThor public blockchain into existing business processes. Based on countless discussions with senior management and innovation heads of enterprise clients, we identified an array of key focus areas from business owners when it came to products. Responsible manufacturing, supply-chain oversight, real-time asset flows, sustainability and even the unique story of a product are attributes they sought to share, enabling enhanced brand engagement and novel ways to monetize data.VeChain ToolChain™ facilitates this transparency, granting overarching insight of a product’s legacy data, creating new ways to generate value for both consumers, brands and supply chain participants alike. With data securely and immutably stored on the VeChainThor blockchain, trusted third-party service providers are able to further utilize these data, creating novel services and products in new, collaborative ways.Our latest iteration of VeChain ToolChain™ is a premium Blockchain-as-a-Service (BaaS) data platform, positioned as the de facto choice for enterprise users. The new version will deliver two significant enhancements and improvements to pre-existing functions.We introduce the Process Builder, enabling the creation of tailor-made processes, customizable based on use case scenarios and business needs. Process Builder reduces the developmental requirements associated with the implementation stage of on boarding and allows business users to use customized landing pages, more clearly demonstrating their product’s life cycle.This agile technical structure facilitates minimum development cost and lead time, enabling maximum benefit from adoption of the technology.VeChain ToolChain™ is designed to become a trusted and secured data infrastructure layer, connecting business users and service providers and enabling the provision of novel value-adding services such as data verification, micro-insurance or supply-chain transparency. On the platform, enterprise users are connected via world-class consulting firms and certifying authorities such as DNV GL, PwC and Deloitte, lending their well-reputed business acumen across various industries.To ensure that the new iteration of VeChain ToolChain™ fits our clientele, we took the opportunity to test drive it through PoC opportunities in different sectors with selected users. The results of these pilot projects helps us gain valuable data through real usage, and enables us to calculate tangible forecasts about business needs. This is done to allow us to deliver a commercially ready product, as well as ensuring our product design is aligned with forwarding the business’s longer-term strategic objectives.In late February, we were able to facilitate the on-boarding of a new client: fashion designer Sarah Regensburger, who presented a line of sustainable clothing at Paris Fashion Week. Asia and Europe were able to deliver, even during the outbreak, through the new VeChain ToolChain™ platform.We are excited to share further details about the latest upgrades to the VeChain ToolChain™ platform in the coming months.Outlook To The FutureThere are positives to take from the current situation. Digitization will become an even greater priority for enterprises, institutions and authorities who will need greater oversight of resources spread across sprawling global logistics networks. As global trade continues to grow, so too will the need for oversight and digitization to enhance security, safety and efficiency across all supply chains and business networks.We continue to receive highly positive feedback from clients. On-going projects express a continued desire to work with us and often, are planning to further enhance blockchain integration. For instance, a partner in the LNG industry has been able to enhance the implementation of their digital business strategy using the upgraded VeChain ToolChain™. In spite of recent economic turbulence, they were able to maintain efficiency and gained increased resilience through digitization of their assets. Examples such as these create a sound economic base for full-digital transformation and signal positively to other businesses.With an expansive network of prominent strategic partners and advisors, VeChain is uniquely positioned in its ability to work with highly-regarded, established enterprises. With a focus on data quality, assurance and other innovative and user-friendly business tools, VeChain will deliver next generation digital infrastructure for wide ranging applications, from UN sustainable development goals to digital verification of goods, financial services, international logistics, government/financial infrastructure and more.VeChain is already an established player in the burgeoning enterprise blockchain sector, developing critical infrastructure and enabling unprecedented business transparency and collaboration. The VeChain Foundation continues to prioritize the interests of all stakeholders, including token holders. We would therefore like to inform our community that we plan to continue with the VET buyback scheme, enhancing, developing and securing the future of VeChainThor as a prominent public blockchain. Updates will be announced in due course.We continue to wish for good health for everyone, everywhere. Spring is coming and with it, a prosperous age of growth and brighter days. Regardless of the ongoing situation, VeChain continues to enhance, engage, facilitate and build. Our pioneering approach and development of novel blockchain applications will deliver fruit in due course. But first, we must all come together and overcome these final days of winter.VeChain FoundationAn Open Letter From The VeChain Foundation Regarding COVID-19 was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
20. 03. 20
VeChain Publishes the First...
VeChain Publishes the First Preprint on PoA 2.0-SURFACE, Further Establishing Itself as a Pioneer In Blockchain Adoption and TechnologyFebruary 25, 2020, Shanghai,China — Dr. Peter Zhou, the Chief Scientist at VeChain, and Dr. Zhijie Ren, the Senior Researcher on Blockchain at VeChain, recently published a preprint paper titled ‘SURFACE: A Practical Blockchain Consensus Algorithm for Real-World Networks’. The paper introduces a next-generation Proof-of-Authority (hereafter referred to as PoA 2.0-SURFACE) consensus algorithm for blockchain networks.The new consensus algorithm PoA 2.0-SURFACE, is characterized as a Secure, Use-case adaptive, and Relatively Fork-free Approach of Chain Extension.Shared as a preprint, this work intends to introduce VeChain’s research on PoA 2.0-SURFACE to the public as early as possible, increasing scholarly communication and awareness on the unique business friendly features of VeChainThor Blockchain. The pioneering work on highly effective and stable blockchain infrastructure will benefit businesses and projects with solutions deployed and built on the VeChainThor Blockchain in many areas, and will help attract even more enterprises into the VeChain ecosystem.The Consensus For Security, Speed, StabilityPoA 2.0-SURFACE is a blockchain consensus algorithm that enjoys the benefits from both the Nakamoto Consensus and Byzantine Fault Tolerance (BFT) consensus. The former allows the system to achieve a near-optimal throughput and latency performance most of the time, while the latter guarantees uncompromised ledger consistency (security) even when the network is strictly asynchronous.To give more technical details, PoA 2.0-SURFACE uses a verifiable random function (VRF) based mechanism to select a committee (a bunch of consensus nodes) to endorse for a block in every consensus round. As a result, the chain is very unlikely to be forked and can be confirmed within less rounds. Moreover, the authors borrowed ideas from latest research on blockchain, e.g., the HotStuff BFT, to deliver a provable block finality. These features will benefit businesses and users of the blockchain in a variety of ways, which will be explained below.Consensus For Business AdoptionTo satisfy the demanding security needs of enterprise users, PoA 2.0-SURFACE uses a VRF-based random beacon generation mechanism. With this new mechanism, we balance the unpredictability and the unbiasedness of the block-proposing-schedule, i.e., the adversaries are neither able to bias the schedule in their favor to perform an attack, nor make predictions of the schedule in a period ahead of time (such as one day) to corrupt honest users to help their attack.To achieve better security with a shorter confirmation time, PoA 2.0-SURFACE adds a committee-endorsing mechanism, which is equivalent to collecting more trailing blocks (similar to the confirmation in Bitcoin) without actually waiting for the block intervals. We could then run tests on the testnet and adjust the committee size according to our network characteristics to optimize the throughput and latency, which is not possible with any other existing algorithm.In addition, PoA 2.0-SURFACE allows the absolute finality of transactions for the safety and accuracy of business practice. In public blockchains with a Nakamoto consensus, a “confirmed” transaction is not final in the sense that there will always be a possibility, no matter how small it is, that there exists another longer chain which could nullify it. This is in general not a desirable feature for enterprise users who are dealing with real-world businesses. Therefore, apart from the normal confirmation of blocks, PoA 2.0-SURFACE will use a BFT based scheme to allow blocks to be finalized after a relatively short period of time, so that the block can absolutely not be forked.VeChain As Pioneer In Both Blockchain Adoption and TechnologyIt has been the prevailing norm within the blockchain industry to devote high amounts of resources and technical efforts on research and development of the technical aspects of blockchain technology. This causes the vast majority of companies and projects in the industry to be stuck in a loop within the technical consensus phase, hampering efforts for the actual application or adoption of the technology itself.VeChain, on the other hand, has identified clear stages in order for blockchain technology to be mass adopted in our daily lives. In our Whitepaper 2.0 Section 1, three major phases of blockchain evolvement were laid out, that is, technical consensus, business consensus, and governance consensus. These phases are the foundation and guiding strategy for VeChain’s development direction, ensuring that we do not remain stagnant as an organization.The business consensus stage is primarily characterized by increasing engagement from business executives and decision makers, who have noticed the success of blockchain technology in proof-of-concepts and continues to invest in the technology to gain a lead over competitors.For long-term development and the robustness of the ecosystem, it is essential for the industry to acknowledge the significance of business involvement, and the mutual benefits of integrating existing real economy systems with blockchain technology. Solution providers must in turn, ensure that their blockchain is reliable and easy-to-use in order to convince businesses to adopt blockchain technology.VeChain has long been establishing itself within the enterprise world, partnering with an increasing number of businesses that are attracted to our industry-leading blockchain solutions. Through the use of our BaaS Data Platform, VeChain ToolChainTM, over 50 enterprise clients are running business activities on the VeChainThor Blockchain mainnet with minimal technical knowledge required. VeChain ToolChainTM is specifically developed to excel at the business consensus stage, as blockchain-powered use cases can be deployed by businesses onto the mainnet in a rapid manner.The PoA 2.0-SURFACE, once approved and implemented, will pave our way even further in the technical and business consensus stage. VeChain continues to be the pioneer for both blockchain integration and implementation in the real business world, as well as the prevailing market leader in blockchain technology itself.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, H&M, LVMH, D.I.G, ENN, AWS, PICC, ASI etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com. For news inquiries, please email to email@example.comVeChain Publishes the First Preprint on PoA 2.0-SURFACE, was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
20. 02. 25
Announcing the VeChain Foun...
20. 02. 17
Announcing Final Winners Fo...
Over the course of the week, the 2019 VeChain Community Contributor Awards were held. The inaugural awards were designed and planned to show our gratitude to the unsung heroes and individuals within the VeChain Ecosystem community, who are passionate, dedicated and relentless in building and spreading the word out about all things VeChain.We have called upon the community to tell us who their favorite contributor is, and we have received many unique nominations. 10 nominees were selected based on the number of mentions, and 5 of them would win the exclusive VeChain New Year Gift Set.The final voting process was well received, with more than 1000 voters showing enormous support for their favorite contributor. Irregardless of the final result, VeChain would like to congratulate and thank all nominees and every single community contributor, including those that were not nominated for dedicating their personal free time to support all things VeChain.Now, with all the votes counted, we would like to announce the final winners of the 2019 VeChain Community Contributor Awards!Final Winners (In alphabetical order)Winners of the 2019 VeChain Community Contributor AwardsTo all winners,Please send a direct message to the VeChain Foundation’s official Twitter page @vechainofficial and let us know your personal information and address for prize delivery and postage.Please note that all parcels will be sent through DHL international services, which requires the following information: Full Name, Phone Number, Detailed Address, Post Code, and Email address. Please contact the VeChain Foundation for more information.We feel privileged to be able to facilitate this event and deliver the love and support from the community for their favorite community contributors.Once again, the VeChain Foundation would like to thank all of you for participating in this event. Congratulations to all the winners!Announcing Final Winners For The 2019 VeChain Community Contributor Awards was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
20. 01. 14
VeChain Foundation Announce...
The year of 2019 has witnessed tangible progress of VeChain, with increasingly more enterprise-level use cases, considerable technical advancement such as governance model update, the branching partnerships on a global scale, and the recent release of VeChain Whitepaper 2.0. At the beginning of the new year, we would like to attribute our success to our numerous partners and advisors, as well as our community members for standing by our side throughout the entire year of 2019.While we have advanced considerably in terms of our business and development of the blockchain ecosystem, VeChain, together with our strategic partner CREAM, have continued to place a “community-first” policy at the forefront of our project since throughout last year. Without our devoted community members, no matter how great our achievements were, they would certainly not be as well known as they are now in the wider blockchain community.Thanks to our active community members, we have seen a flurry of user generated content, with quality articles, graphics, GIFs, comments and other forms of contribution all across social media regardless of any specific platform. There is also no doubt that our social media presence has been gaining incredibly more influence, and the discussions and activity around VeChain on several platforms (such as Reddit, Twitter and Telegram) have been widely considered as the most active cohesive community in the entire blockchain space.We would also like to thank our talented community developers that continue to work hard to introduce more and more useful tools for the best interest of the community. Their help to expand the VeChainThor blockchain ecosystem with invaluable services and tools have greatly assisted every stakeholder in our ecosystem.Finally, we would like to extend our deepest gratitude to our dedicated and often underappreciated community admins and moderators on social media (Reddit, Telegram, Facebook and more). It is all thanks to them that everyone in the VeChain ecosystem continue to be able to have meaningful discussions in a friendly and civil space about all things VeChain. Without the professionalism and devotion from them, VeChain will certainly not be as well-received and fairly rated across social media as we have been.Today, in the spirit of the new year, VeChain is excited to announce The 2019 Community Contributor Awards.The VeChain Community Contributor Awards are specially designed to reward and represent our heartfelt gratitude to our active and loyal community. The awards are open to any community member that positively contributes to the VeChain ecosystem, with nominations and voting completely done by the community.Please carefully read the rules below to participate in VeChain’s new year surprise.Nominees can be from any of the following categories: Technical Developers, Community Administrators, Influencers, Evangelists, Content Creators, and Any Community Member who has contributed significant efforts for the greater good of the VeChain Ecosystem.Please note that nominations for VeChain Foundation staff, steering committee members and advisors will be ruled out.NOMINATE NOW!2. Nominations, including self-nominations, must be submitted to VeChain Foundation by 10pm (UTC+8) on January 5, 2020.3. VeChain Foundation will select TOP 10 nominees as the final candidates for voting.4. Voting will start on January 6, 10pm (UTC+8) and will end on January 12, 10pm (UTC+8).5. We are expecting 5 final winners to win the VeChain Community Contributor Awards. All the winners will receive our exclusive VeChain New Year Gift Set with items as follows:VeChain ToolChain™ Powered Limited Edition of Copper Dog WhiskyVeChain ToolChain™ Powered T-shirtHandwritten gift card from Sunny LuVeChain is looking forward to welcome the different nominations from the community, and we are holding our breath waiting to be surprised by the excitement to be shown by the community, especially during the voting period. Stay tuned for more updates on our official Twitter!Once again, VeChain wishes our community a Happy New Year 2020!VeChain Foundation Announces the 2019 Community Contributor Awards was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
20. 01. 02
VeChain Financial Executive...
Transparency, Fairness, OpennessWith the aim of transparent communication on our achievements in creating tangible economic value, we are excited to present the ninth VeChain Foundation Financial Executive Report. This financial report covers a fruitful quarter from August 2019 through to October 2019.On October 24th, Chinese President Xi Jinping announced the nation’s full embracement of blockchain technology, hailing it as “an important breakthrough for independent innovation of core technologies”. Enterprises and industry leaders around the world now have their focus on the adoption of blockchain technology in real working use-cases and applications, and as a result, VeChain has received even more interest and attention globally due to our unparalleled track record in enterprise adoption and blockchain applications focusing on real business value creation. It confirms our strategy of being an enabler and making blockchain technology as easy as possible for businesses to adopt.As always, we sincerely welcome the community to hold us to the commitment of transparency, including but not limited to the rigorous monitoring and usage of our funds, and the development process of all aspects within the VeChain Foundation.The report structure is as follows:1. VET Supply Overview2. VeChain Foundation Expenditure (use of proceeds)3. Notesi) Enterprise Investor Poolii) Co-Founders, Development Teamiii) The Operation, Technological Research and Developmentiv) Business Developmentv) Compliance & Legalvi) Ecosystem Development1. VET Supply OverviewAt the end of October, the VET circulating supply was 63,439,279,106 which accounts for roughly 73.2% of the total supply, compared with 72.7% of last quarter end. Within the VET circulating supply, 22,161,653,627 VETs were in the soft-lockups, which makes about 25.6% of the total supply. It marked a 1.5% increase over the last quarter. In addition to the team lockup, we have seen X Nodes and Economic Nodes increase their holdings which signifies the continued long term confidence of the key stakeholders in the VeChain Ecosystem. By the end of this reporting period, around 47.6% of the VET total supply is free to trade on the open market.Note:* The soft-lockup categories are as follows:Authority Masternode collateral — each Authority Masternode keeps at least 25 million VETs;X Nodes staking — each X node keeps a minimum amount of VET based on four different tiers;Economic Nodes staking — each economic node keeps a minimum amount of VET based on three different tiers;Team Lockup — According to the whitepaper 5% of the total VET supply is allocated to co-founders and development team, and this pool is released quarterly over a two year period. However, in this reporting period the executive team as well as some of the team members voluntarily locked 356 million VETs, which is 69% of the total amount allocated to the team in this quarter. As of October 31, 2019, over 3 billion VETs have been locked up by the team to show the commitment to VeChain’s long term success.** The ecosystem reserve was acquired through the VeChain Foundation Buyback initiative as of the end of October. This reserve will be used to facilitate the long term growth of the VeChain ecosystem. However, the Foundation BuyBack wallet was later involved in a theft in December 2019, more details regarding the ecosystem reserve will be disclosed in the next quarterly financial report.2. VeChain Foundation Expenditure (use of proceeds)We summarized below the USD value of the expenditure in fiat or BTC/ETH for the reporting period. For the spending in BTC or ETH, the USD value was booked based on the rate when the transaction occurred. In many situations our service providers and partners prefer to receive VET as direct payment or investment compared to using fiat or BTC/ETH. Therefore, the total expenditure for operation, technological and business development comprises a combination of direct VET payment and use of proceeds (fiat, BTC/ETH) depending on the associated parties’ preference.3. Notesi) Enterprise Investor PoolDuring this reporting period, we continued evaluating the offerings on hand and are looking for institutional partners who could bring fundamental change, or value, to the long term development of the ecosystem. Around 30 million VETs were purchased from the enterprise investor pool. As always, the partners invested in this pool are subject to lock-up and looking at holding the VETs for long term purposes.ii) Co-Founders, Development TeamIn this period, the Foundation distributed 514 million VET as ninth quarterly rewards to the team. During this reporting period, 3 full-time employees joined us in our development and operation team. Same as previous periods, the executive team will continue locking up 100% of their rewards gained in this period. In addition, some of the team members opted to lock up their allocated tokens to show the commitment to VeChain’s long term success. In total, out of the portion allocated to the team in this quarter, about 356 million VETs, around 69%, were locked up voluntarily after being released from the Foundation reserve.iii) The Operation, Technological Research and DevelopmentDuring this period, a notable number of improvements were announced to the public, highlighting our technological achievements and developments, as follows:VeChainThor v1.1.3 and v1.1.4 were released with improvements on the blockchain performance and compatibility.We released the new Sync desktop wallet and dApp browser. With the new VeChain Sync Official Ledger Wallet Interface, Ledger users are able to use their Ledger VeChain wallet address in Sync to access their VET and VIP180 tokens, interact with dApps and sign transactions.The VeChainThor Wallet v1.4.3 was released during this period. This updated version enables users to input custom URLs in the Discover tab, switch between mainnet and testnet, and reorder the asset list based on your preference.We have announced VeChain Builders, a dedicated new section on the VeChain official website, which allows users to easily navigate and explore blockchain-related information and toolsets to address their pain points and lower their adoption efforts. With the launch of VeChain Builders platform, community developers, startups, enterprises and more will have a one stop source to find applications and useful information relating to VeChain, and even communicate with other ecosystem builders.iv) Business DevelopmentDuring this period, VeChain has been relentlessly promoting the VeChain ToolChainTM platform and the enterprise use cases built on top of it. One of the major global blockchain event, the Shanghai International Blockchain Week 2019 was held on September 21. Due to VeChain’s leading role in the enterprise blockchain adoption with abundant real use cases in various industries, Sunny Lu, Co-founder and CEO of VeChain, as well as partners such as Renato Grottola, Global M&A and Digital Transformation Director in DNV GL-Business Assurance and Member of VeChain Foundation Steering Committee; Antonio Senatore, Global CTO at Deloitte Blockchain and Member of VeChain Foundation Advisory Board were invited to the summit to represent VeChain and it’s enterprise solutions as keynote speakers.Highlights from the business development and marketing events (August, 2019 — October, 2019)VeChain hosted the VeChain ToolChain Day at Shenzhen (August 11)Kevin Feng attended AMA at Coin 98, one of the biggest blockchain community at Vietnamese, and introduced VeChain to the Community (August 16)Chin Qian, Chief Business Officer at VeChain, attended the 1st Important Product Tracing Expo (Shanghai) and showcased My Story™ and VeChain ToolChainTM (August 21)Sunny Lu introduced the Carbon Credit platform on Codice RAI, Italy (August 21)Vechain supports TRIBE Accelerator’s OpenNodes, a web-based engagement platform, to foster innovation and collaboration in the blockchain community (August 27)Kevin Feng delivered a speech of “Insights on Blockchain Application Ecosystem” at the 2019 MiiXCon Global Blockchain App Eco-developer Summit (August 30)Kevin Feng introduced VeChainThor blockchain and enterprise-level blockchain solution to Fudan-BI (Norway) MBA students when they visited VeChain’s Shanghai office (August 30)VeChain Project Manager, Perkins Chen introduced VeChain enterprise-level blockchain solutions at workshop hosted by Tribe Accelerator (September 3)General Manager of SE Asia & Australasia, Sarah Nabaa attended the Seeds & Chips Global Food Innovation Summit in Melbourne, Australia and introduced VeChainThor blockchain (September 3)Sunny Lu attended workshop hosted by Peninsula Corporate Innovation, introduced VeChain ToolChainTM, and shared opinion on blockchain mass adoption (September 13)VeChain Technical Director, Albert Ma shared successful use cases that VeChain has implemented in the industry at the workshop co-hosted by Fenbushi capital and bloXroute Labs (September 16)Sunny Lu, Co-founder and CEO of VeChain, as well as partners such as Renato Grottola, Global M&A and Digital Transformation Director in DNV GL-Business Assurance and Member of VeChain Foundation Steering Committee; Antonio Senatore, Global CTO at Deloitte Blockchain and Member of VeChain Foundation Advisory Board were invited to the Shanghai International Blockchain Week 2019 as keynote speakers (September 17)VeChain hosted the VeChain ToolChain Day at Chengdu (September 21)Sunny Lu and Kevin Feng attended the workshop hosted by Fudan MBA Blockchain Club, and shared opinion on blockchain technology, ecosystem development and business adoption (September 22)Kevin Feng delivered a speech of “How Blockchain Enables Corporate Transformation” to Delegation of Norwegian enterprises at DNV GL China (September 23)General Manager of Europe, Jerome Grilleres attended Startupbootcamp FastTracks event at Paris, and shared successful use cases that VeChain has implemented (September 26)General Manager of Europe, Jerome Grilleres attended the Choose Paris Region Closed Door Discussion, and introduced VeChain ToolChainTM (October 8)General Manager of Europe, Jerome Grilleres attended Blockwalks 2019 Europe Summit at Bratislava (October 10)General Manager of SE Asia & Australasia, Sarah Nabaa attended the Demo day for the corporate accelerators of Digital Business Innovation Center (DBIC), and shared cutting edge innovation concept (October 15)General Manager of Europe, Jerome Grilleres attended Startupbootcamp FastTracks event at Shanghai, and shared successful use cases that VeChain has implemented at the luxury industry (October 17)Ecosystem Manager, Arnaud Baue attended GDST Seafood Trackathons co-sponsor by VeChain, and introduced VeChain ToolChainTM APIs and how to develop dApp on VeChainThor blockchain (October 21)Chief Operation Officer, Kevin Feng and Chief Business Officer, Chin Qian introduced VeChain technical development and successful cases to the delegation of the Commercial Section of the Norwegian Embassy in China. (October 25)General Manager of Europe, Jerome Grilleres and Ecosystem Manager Dimitrios Neocleous attended the Decentralized 2019 Conference co-hosted by University of Nicosia (UNIC) and BitShares at Athens, and showcased successful VeChain ToolChainTM implementation cases. (October 31)VeChain hosted the BUIDLer Assembly Event at San Francisco Blockchain Week 2019 and showcased The New VeChain Builders Website (October 31)v) Compliance & LegalVeChain hires professional service providers in cybersecurity and legal to ensure products and solutions we offer are secure and compliant with regulations, which we believe is the prerequisite of mass adoption by global enterprises.vi) Ecosystem DevelopmentSince the launch of the Foundation Grant Program, the Foundation team has been working very closely with community developers to discuss project plans, go to market strategy and set milestones for the development. We were happy to see projects that were accepted and supported by the Grant Program including VeriArti, Realitems, Everscore have been pushing forward the projects following their roadmap and achieved significant developments in both technical and business aspects.VeChain Financial Executive Report Vol. 9 was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 12. 30
The Final Results of All-st...
The first ever All-stakeholders Voting has ended successfully on 10AM December 30, 2019, which has served as the first major step to reach VeChain’s goal of achieving a profound balance between community-based decentralization and enterprise-level execution efficiency.The vote was to seek the agreement of the most important stakeholder in VeChain’s governance model, the community. The VeChain Steering Committee and Authority Masternodes decided to implement a temporary block list can only be permanently implemented with the approval of the community, and the Steering Committee was prepared to accept the voice of the community, no matter the result.As the results show, the community has unanimously voted for the permanent implementation of the block list related to the recent Foundation buyback wallet theft to be introduced in VeChainThor v1.1.5. We would like to thank all the participants involved in the voting process, including Authority Masternodes, Economic X Nodes, Economic Nodes, and even non-Node holders which engaged in the conversation on social media for the mutual civility and respect shown during the voting process.By the closing time of All-stakeholders Voting (10:00 UTC+8, December 30, 2019), the participation rate of each stakeholder category exceeds 15%, satisfies the minimum voting threshold and validates the voting process.In light of the voting rules, between block#4,677,898 to block #4,721,015, a total quantity of 1,410 votes were counted as valid. The breakdown of the votes is as follows: 99.06% of the voting authority agree in favour of the block list being implemented permanently, and 0.94% disagreed.To illustrate, 53.47% of Authority Node holders participated in the ballot, casting 54 votes. 19.00% of Economic X Node holders participated in the ballot, casting 848 votes. 17.70% of Economic Node holders participated in the ballot, casting 508 votes. More details can be seen in the following table.* Note: The voting results were calculated based on the rules set in Announcing VeChain All-stakeholders Voting Relating to the Recent Foundation Buyback Wallet Incident, and all the voting records are available for independent verification at VeChain Explorer.With the results being final, we will release another update the VeChainThor blockchain core node program, and work with all the Authority Masternodes to update and implement the block list permanently in the coming weeks.With this, the 727 million VET involved in the theft will be permanently taken out of the circulatory supply, and considered as burnt.首个所有相关权益者投票已于北京时间12月30日上午10：00结束。唯链始终致力于在民主治理和高效执行中维持有机且持久的平衡，本次投票无疑是一次成功的印证。本次投票旨在向唯链治理模型中最重要的相关权益者 — — 唯链社区成员，征求意见。在回购地址被盗事件中，12月18日经唯链战略决策委员会表决通过后，超级权益节点暂时启动黑名单。关于是否将黑名单永久加入唯链区块链，战略决策委员会将最终决定权交给社区进行投票表决。根据最终投票结果显示，社区决定将事件涉及的黑名单永久写入唯链雷神区块链底层共识。在此，唯链基金会向所有社区成员在投票过程中展示出的理性、文明，以及互相尊重的态度表示衷心感谢。截至北京时间2019年12月30日早10：00，每类投票人参与率均超过15%，因此投票最终结果生效。根据投票规则，在区块高度#4,677,898至#4,721,015之间，有效票共计有1410次，其中99.06%表示同意将黑名单永久写入唯链雷神区块链底层共识，0.94%表示拒绝。据统计，超级权益节点持有者投票参与率为53.47%，产生有效投票54次。经济X节点持有者投票参与率为19%，产生有效投票848次。经济节点持有者投票参与率为17.7%，产生有效投票508次。详情见下表：* 提示：本次投票计算方式参照此前公布的投票规则，并且所有数据皆在唯链官方浏览器上公开，可供审核验算。本次投票的最终结果，将通过最新的节点程序写入唯链雷神区块链底层共识，并通过超级权益节点升级正式生效，7.27亿个VET将从总供应量和流通量中永远减去，被视为销毁。
19. 12. 30
Announcing VeChain All-stak...
Announcing VeChain All-stakeholders Voting Relating to the Recent Foundation Buyback Wallet IncidentIn accordance with the latest VeChain Foundation Public Disclosure regarding the buyback wallet theft incident, an urgent, temporary action has been taken to contain the negative impact on VET stakeholders by means of an emergency patch, VeChainThor v1.1.5. This update was released by VeChain Foundation upon the Steering Committee’s approval and was agreed by all Authority Masternodes to update their software to implement a temporary block on the addresses controlled by the thief.For the interest of collective understanding and decentralization, it is VeChain’s vision and commitment that we feel it’s imperative that the community gets to make the final decision on the destiny of the blocked addresses and stolen funds. Hence, we would like to initiate the first ever VeChain all-stakeholders voting on this subject based on the recently approved VeChain Governance Charter. This voting will decide whether or not to implement the block list on the VeChainThor blockchain permanently, and the action to be taken as a result of the vote would be to make the 469 tainted addresses owned by the thief designated as burn-addresses, and de facto making the frozen 727 million VET tokens burnt tokens, forever subtracted from the total and circulating supply.Unfortunately, the all-stakeholders voting function on VeVote is still under development after the recent finalization of the updated governance model, but due to the urgency of this voting, we decided to adopt an alternative method of VTHO transfer to the designated addresses (to be announced when the ballot is open), which follows the exact same rules of the VeChain Governance Charter.We apologize for the inconvenience, and future all-stakeholders voting will be conducted on the VeVote platform when the features are fully ready.Proposal Subject:Do you agree to implement the block list introduced in VeChainThor v1.1.5 permanently as a result of the recent Foundation buyback wallet theft?Eligibility:Authority Masternodes, Economic X Nodes and Economic NodesOption one: AgreeBy transferring 1 VTHO to the designated voting address below (to be announced when the ballot is open) indicating “AGREE” between 10AM December 25, 2019 and 10AM December 30, 2019 UTC+8, you vote for implementing the block list permanently as part of the VeChainThor blockchain consensus, thus forever burning the 727 million VETs involved in the theft from the total and circulating supply.Option two: DisagreeBy transferring 1 VTHO to the designated voting address below (to be announced when the ballot is open) indicating “DISAGREE” between 10AM December 25, 2019 and 10AM December 30, 2019 UTC+8, you vote for lifting the current block list implemented in VeChainThor v1.1.5, thus releasing the restrictions of the 727 million VETs involved in the theft.Voting Authority:Important Rules:Only VTHO transfers from Authority Masternodes (endorser address), Economic X Nodes and Economic Nodes (addresses holding the node tokens) will be counted as valid votes.Only transfers confirmed in the blocks between 10AM December 25, 2019 and 10AM December 30, 2019 UTC+8 will be counted as valid votes.Each stakeholder category needs at least 15% participation rate in order for the voting authority of the particular category to be counted towards the total voting authority. Otherwise the voting authority will be reallocated, please see section 3.3 of the VeChain Governance Charter for more details.If an eligible voter makes multiple transfer, the last transfer in time sequence within the polling time window to either of the voting addresses counts.For addresses that hold more than one node, the vote will only be calculated in the category which is higher in the voting authority model.Your vote will be invalid in the following circumstances:The origin address of the transfer does not belong to any of the stakeholder categories defined by the governance charter.The VTHO amount transferred doesn’t match the required amount.The VTHO transfer is confirmed on the VeChainThor blockchain before or after the polling time window.The participant rate of the voter’s stakeholder category does not meet the minimum requirement.Note:If your node is stored on a Ledger hardware wallet, you can make the VTHO transfer by accessing My Token via Sync.Participant rate = number of valid voters in the stakeholder category / total number of nodes in the stakeholder category at the ballot closing time.Once the ballot is closed, the Foundation operation team will calculate the votes based on the voting authority model and announce the final results within 48 hours. All the voting records are available for independent verification. And based on the final result, the Foundation operation team will work with the Authority Masternodes to implement to change.自唯链基金会回购钱包被盗事件以来，唯链社区成员、开发者以及合作伙伴与我们并肩努力，采取一系列必要、迅速、强有力的措施控制事态。目前回购地址被盗事件已得到有效控制。详情参见唯链基金会官方公告。12月18日，在唯链基金会战略决策委员会通过是否通知所有超级权益节点并发布唯链雷神区块链 v1.1.5 的提案后，开发团队发布了唯链雷神区块链 v1.1.5版本。发布后的72小时内，所有超级权益节点已经同意进行版本更新。在此情况下，被盗数字资产无法进行转移。秉持“公开透明民主”的原则，唯链基金会根据最新生效的治理模型，针对此次特殊事件发起首个所有相关权益者投票。此次投票有关是否同意将黑名单永久写入唯链雷神区块链底层共识中。投票通过后，469个在黑名单中的地址将被永久锁定（相当于地址上的7.27亿个VET将被销毁，并从总供应量和流通量中永远减去）。由于目前VeVote投票系统功能正在根据最新生效的治理模型同步升级中，针对此次紧急事件，我们决定启用备选方式：根据最新治理模型规则，所有相关权益者将指定数量的VTHO转至指定钱包地址进行投票（地址将在投票开启时公布）。我们对此造成的不便感到抱歉，当VeVote功能完善之后，所有相关权益者将在VeVote平台进行投票。具体投票细则如下：投票主题：是否将此黑名单永久写入唯链雷神区块链底层共识？投票起止时间：北京时间2019年12月25日上午10:00至北京时间2019年12月30日上午10:00具有投票权的权益相关者包括：超级权益节点、经济X节点以及经济节点选项一：同意。选择“同意”，请向如下钱包地址（地址将在投票开启时公布）转入1个VTHO。该选项代表您同意黑名单写入唯链雷神区块链底层共识，在唯链主网上永久拦截由这些地址发起的任何交易。黑名单内所有地址中的VET（共计7.27亿VET）将永久不再流入市场，视同销毁。选项二：拒绝。选择“拒绝”，请向如下钱包地址（地址将在投票开启时公布）转入1个VTHO。该选项代表您拒绝将黑名单写入唯链雷神区块链底层共识，从而将解除被盗窃VET的交易限制。投票权重如下：*不同类别节点各等级投票系数计算方式请参阅新治理模型 3.2章节。投票注意事项：根据最新生效的治理模型，仅超级权益节点、经济X节点、经济节点根据投票规则进行的转账被记为有效票；根据唯链雷神主网上区块的时间戳，仅在北京时间2019年12月25日上午10:00至北京时间2019年12月30日上午10:00之间的转账投票记为有效票；每类投票人群应达到至少15%的投票率，否则该类人群投票权重将会重新分配，具体规则详见最新生效的治理模型中的3.3章节；如具有投票权的权益相关者在投票起止时间内进行多次投票，最终投票结果将以最后一次转账的地址所代表的投票选项为准；若同一地址持有两类节点，则以权重较高的节点计算投票权重。以下情况投票无效：非超级权益节点、非经济X节点、非经济节点的转账将被视为无效；转账数量与上述选项的VTHO数量要求不一致的投票将被视为无效投票在唯链主网上的VTHO转账确认未在投票起止时间内；如果同一节点重复投票 ，以最后一次投票为准，之前的投票均将被视为无效；权益相关者类别的投票率未达到15%。请注意:如果您的节点存储于Ledger硬件钱包中，可以通过在Sync中访问My Token应用进行VTHO转账；权益相关者类别的投票率 = 某一权益相关者类别中投出有效票的人数/投票结束时该类别权益相关者数量投票结束后，基金会将根据最新生效的治理模型中的计票规则计算票数，并在投票结束后的48小时内公布结果。社区可以在唯链官方浏览器内查询到所有权益相关者的投票记录，并根据唯链基金会治理模型中的计票规则进行计算验证。101个超级权益节点将与唯链基金会运营团队一起，严格贯彻执行投票结果，并在执行完成后对社区进行公示。
19. 12. 24
VeChain is Co-Founder of Th...
December 23, 2019, Shanghai, China — The 3rd Belt and Road Initiative (BRI) Forum of Tsinghua University, guided by the People’s Government of Shanghai, Tsinghua University and the China Association for Social Workers, has been successfully held in Shanghai from December 19 to 20. (News source from people.cn, a Chinese state owned media)At the Forum, VeChain, together with DNV GL, The Belt and Road Initiative Research Institute of Tsinghua University, Industry Internet Research Institute (under the Ministry of Industry and Information Technology of the People’s Republic of China), Tus Data Asset, and China Silk Road Group Limited, established the The Belt and Road Initiative Blockchain Alliance (hereinafter referred to as “BRIBA”) , to spur the development of the BRI by leveraging the blockchain technology.Signing ceremony of BRIBAThe BRI is a global development strategy adopted by the Chinese government, involving 136 countries and more than 30 international organizations across Asia, Europe, the Middle East, and more. According to Chinese state council, by the end of August 2019, the Chinese government had signed 195 Belt and Road cooperation documents, covering business on a global scale.The BRIBA members are all pioneers in their area. The Belt and Road Initiative Research Institute of Tsinghua University outstands as an elite think tank supported by the prestigious Tsinghua University (Ranked 1st in China and 16th in the world in QS University Rankings 2020, and is the alma mater for many senior government leaders and officials, including President Xi Jinping), and the China Silk Road Group Limited is a business group covering finance, satellite Geo-information, energy, etc., and has close contact with governments and service industry organizations at home and abroad. DNV GL is the leading provider of risk management and quality assurance services, and is the global leader in certifying management systems of companies across all types of industries. Tus Data Asset, a state-owned blockchain technology company, has the expertise in data sharing services for government services, health care, finance, and education.The Alliance is established to assemble all resources from the members and later joined members, to power more BRI infrastructures, business, and projects by blockchain technology.Group photo of representatives from co-founding membersVeChain’s footprint has spread across 7 countries including China, Italy, France, Singapore, the United States, Luxembourg, and Japan, gathering talents from various countries. International diversity and localization experience have both been VeChain’s competitiveness, which will be valuable for the BRI.During the past 4 years,VeChain is dedicated to promoting the development of blockchain technology from the technical consensus to the business consensus, and has been accumulating experiences in blockchain adoption in real world use cases all over the world. My Story™ , the digital assurance solution built on VeChainThor Blockchain, launched by DNV GL, has traced prominent Italian wines including Ricci Curbastro, Ruffino and Torrevento, which shows the trust and positiveness of blockchain deployment in Italy, who has signed agreement to join BRI this year.Considering all aforementioned advantages, VeChain will play an important role in the BRIBA to provide blockchain technology infrastructure, abundant localization industry experience, and technical consulting services, to achieve broader implications and success, especially overseas. For multi-party partnerships between BRI members, blockchain technology will bring transparency and sufficiency to achieve win-win collaboration.Currently, VeChain positions The Belt and Road Initiative as our guidance and direction for long-term global strategy, aiming at spurring initiatives into actions and benefiting all stakeholders with reliable blockchain technology.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners DNV GL and PwC, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com.For news inquiries, please email to firstname.lastname@example.orgVeChain is Co-Founder of The Belt and Road Initiative Blockchain Alliance (BRIBA) was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 12. 23
VeChain Foundation Public D...
While the past week has been stressful for the entire VeChain team, it’s also one of the most rewarding experiences for the team. Through dealing with the incident, our team and community became stronger.Security is always one of VeChain’s top priorities. We would like to re-emphasize that the security of the VeChainThor blockchain and wallet applications are intact and unaffected. We have worked hard in recent years to assure infrastructural security, and from the incident, we just learned fair importance should be attached to other elements such as process compliance. Moving forward, we are still committed to providing secured blockchain services to all our stakeholders, including community members, token holders, enterprise partners, and application owners.Since the incident happened, together with the community, developers and our partners, we have taken the necessary and immediate actions to control the situation and reduce the impact on the community. The good news is that we believe the damage has been successfully contained as of now.How did we respond to the incident?On December 13, as soon as we noticed the abnormal transaction of the Foundation buyback wallet, we informed the Steering Committee to launch the incident response protocol and called an urgent meeting with leaders in various functions. We checked immediately the security of the rest of the Foundation wallets, notified major exchanges and take all needed actions to reduce the possible impacts on the market to protect all stakeholders.Shortly after the incident, VeChainStats which is well known across the VeChain Community as a dedicated developer of data analysis tools for the ecosystem offered to create a blacklist to track down the stolen funds. It allowed exchanges to take preemptive actions and prevent the deposits from the blacklisted addresses from directly hitting the market. In addition, the Hacken team who is working with over 2,000 whitehat hackers was helping to trace the funds and notified exchanges in the Crypto Defenders Alliance.Thanks to the quick responses from OceanEx, Binance, Huobi, Kucoin, Bitrue, Bitfinex, Bittrex, and other exchanges, we were able to prevent the thief from creating an even bigger sudden deliberate negative impact on the market. Nevertheless, the thief escalated the action in the next few days, such as creating thousands of new wallets with small amount of tokens to wash the stolen funds and launching DDoS attacks to VeChainStats’ blacklist and etc., which made us think we need to take more decisive measures to contain the damage and more importantly to win more time for investigation and collecting community feedback.Therefore, an urgent internal Steering Committee meeting was called by Steering Committee General Secretary Sunny Lu to discuss the possibilities of preventative actions. After careful consideration, the Steering Committee voted and passed a motion to contact all the Authority Masternodes and release an emergency patch i.e. VeChainThor v1.1.5 on December 18th, so that the Authority Masternode can vote on whether or not they agree to implement a temporary block on the addresses controlled by the thief.This was well-received by all of the Authority Masternodes holders, and thanks to their quick response, within 72 hours after the patch was released, the situation was quickly under control as we see more and more the Authority Masternodes opted to implement the new updates. All Authority Masternodes have confirmed that the block list has been implemented, therefore it is almost impossible for the thief to move the stolen funds for now.Currently, 469 addresses owned by the thief have been blocked by the Authority Masternodes, which froze about 727 million VETs. For the funds that have already been moved to exchanges, we will continue working with exchanges to retrieve the stolen funds.What is going to happen next?VeChain always aims for iterating and profound balance of decentralization for transparency and trust, and execution efficiency.It’s imperative that the community gets to make the final decision on the destiny of the blocked address and the stolen funds within them. In accordance with the recently approved VeChain Governance Charter, the Steering Committee is convinced that an All-stakeholders Voting is needed in this kind of extreme case. Therefore we are going to announce an All-stakeholders voting very soon on whether or not to implement the blocklist introduced in VeChainThor v1.1.5 permanently, to make these 469 tainted addresses into burn-addresses, and de facto making the 727 million VET tokens burnt tokens, forever subtracted from the total and circulating supply. Details will be announced soon.On the investigation side, we are working with professional cybersecurity firms to conduct cyber-forensic checks on the devices that were potentially compromised to cause this theft. We are expecting to discover evidence and trails that may have been left by the thief to confirm the exact cause of the incident. We are also collaborating with exchanges to cross-examine evidence, action will be taken by law enforcement if solid evidence surfaces.Our Internal Management DecisionsWhile the related employee has been held accountable for the mistake, the head of VeChain Foundation Operation Committee overseeing the finance unit will take responsibility for this incident which happened under his charge. Jay Zhang will step down from his role as CFO and be replaced on an interim basis by the current financial controller. Moreover, Jay Zhang also foregoes his candidacy for the upcoming Steering Committee election in 2020 and forego 50% of his compensation for the entire year of 2020.In addition, Sunny Lu being the CEO is ultimately responsible in this incident, although he was not the person directly implicated, he will also bear his share of the consequences. Same as Jay Zhang, Sunny Lu will forego 50% of his compensation for the entire year of 2020.The Foundation team has decided on internal remediation and improvement plans to further strengthen the digital asset security management from both technical and procedural perspectives. And this private key theft has put our incident response procedure into a real-life test, and we will also take the opportunity to further improve the process.In summary, this incident will not affect VeChain’s long term development. We would like to apologize again for the unintended misses, and express our sincere gratitude for the help and understanding from all stakeholders.过去的一周，对于唯链团队而言充满挑战。此番经历将使我们变得更加强大。在唯链基金会团队、社区志愿者及合作伙伴们的共同努力下，目前回购地址被盗事件已得到有效控制。唯链基金会始终将安全视作重中之重。我们向广大社区成员及所有利益相关者再次郑重声明，唯链区块链网络的安全性从未受到任何破坏，包括唯链雷神钱包在内的相关应用及设备功能从未出现过任何漏洞。企业及个人用户可正常使用唯链区块链上所有服务。我们会继续致力于搭建安全完善、功能强大的区块链底层技术平台，同步深入强化对流程管理方面的把控，一如既往为用户提供最有价值的区块链服务。自失窃发生以来，社区成员、开发者以及合作伙伴与我们并肩努力，采取一系列必要、迅速、强有力的措施控制事态。秉持“公开透明民主”的原则，基金会特此向所有利益相关者公示事件进展及相关处理结果。事件进展及处理过程2019年12月13日晚，当发现唯链基金会回购钱包发生异常交易时，唯链基金会第一时间通知战略决策委员会启动紧急预案，并召开各职能部门负责人紧急会议。我们立即对基金会其他钱包进行检查，排除异常，确保安全，并通知各主要交易所，采取一切必要措施减少此次事件有可能对市场产生的影响，以保护所有利益相关者的权益。唯链社区项目VeChainStats主动提出部署一个黑名单以便实时追踪被盗数字资产，助力交易所采取先发制人的措施，防止黑名单地址中的数字资产直接流入市场。同时，Hacken团队与2000余名白帽黑客共同合作，追踪被盗数字资产，并且通知了所有在Crypto Defenders Alliance联盟内的成员交易所。特别感谢OceanEx 、币安、火币、Kucoin、 Bitrue、Bitifinex、Bittrex等交易所在配合本次事件中作出的迅速响应，从而避免被盗的数字资产对市场产生不必要的冲击。尽管如此，窃贼在此后的几天内再度进行一系列操作，例如疯狂创建数千个小额新钱包试图洗白赃款，以及对VeChainStats的黑名单进行DDoS攻击。因此，我们决定必须采取更强有力的措施来为调查和收集社区反馈争取更多时间。因此，唯链基金会秘书长陆扬召集了战略决策委员会召开紧急会议以商讨进一步的解决方案。经慎重考虑，唯链基金会战略决策委员会针对是否通知所有超级权益节点并发布唯链雷神区块链 v1.1.5 的提案进行投票。12月18日，委员会表决通过该提案后，开发团队发布了唯链雷神区块链 v1.1.5版本，所有超级权益节点可以选择完成版本升级以对黑名单中的窃贼地址进行暂时性的拦截。我们由衷感谢所有超级权益节点持有者在收到通知后的及时响应。在v1.1.5发布后的72小时内，所有超级权益节点已经同意进行版本更新。在此情况下，被盗数字资产将无法进行转移。目前，超级权益节点已对黑名单中469个与窃贼相关的地址进行了拦截，从而冻结共计约7.27亿VET。同时，我们也正在与交易所继续合作，尽可能将部分已经流入交易所的失窃数字资产追回。进一步举措唯链基金会始终致力于在民主治理和高效执行中维持有机且持久的平衡。秉持“公开透明民主”的原则，唯链基金会将根据最新生效的治理模型，针对此次特殊事件发起所有相关权益者的投票。此次投票有关是否同意将黑名单永久写入唯链雷神区块链中。投票通过后，469个在黑名单中的地址将被永久锁定（相当于地址上的7.27亿个VET将被销毁，并从总供应量和流通量中永远减去）。具体投票规则不日将正式公布。关于对窃贼的调查工作，我们目前正在与专业的网络安全服务公司合作，对本次事件可能涉及的所有设备进行技术鉴定，寻找窃贼留下的痕迹并锁定漏洞环节。同时，我们正在进行严密交叉取证，一旦获得确凿证据将会上报警方。内部管理及调整该事件由财务部门个别员工操作不当引发，直接相关人员已受到相应处理。唯链基金会运营委员会负责人张杰先生作为财务部门的负责人对此负有管理责任。张杰将卸任首席财务官的职位，并由财务总监暂代。同时，张杰先生已放弃第二届唯链基金会战略决策委员会的被选举资格以及2020年50%的全年薪酬。作为最终负责人的唯链首席执行官陆扬也将承担相应责任，并同样自愿放弃2020年50%的全年薪酬。同时，唯链基金会已经展开内部管理优化，从技术升级及流程把控两方面强化数字资产安全管理。本次被盗事件是对基金会紧急预案有效性的实践检验，我们将以此为鉴，进一步提升风险控制及处理能力。综上，我们再次对此次事件的发生郑重致歉。但本次事件并不会影响唯链基金会的长期稳定发展。唯链基金会将持续提供安全、高品质的区块链服务，并竭力保障所有利益相关者的权益。同时，我们再次诚挚感谢社区成员以及所有利益相关者在本次事件中给予的理解和支持。
19. 12. 22
Anhui Tea Industry Associat...
Anhui Tea Industry Association Partners With VeChain To Respond Chinese Government’s Call For Blockchain Adoption In Poverty AlleviationOn December 3rd — 4th, 2019, the General Council of Anhui Tea Industry Association, namely the Forum of Poverty Alleviation in Yuexi County (a county under the jurisdiction of Anqing City, Anhui Province, China), was successfully held. At the forum, VeChain signed a partnership agreement with Anhui Tea Industry Association to accelerate the development of tea industry across the province by leveraging the VeChainThor blockchain technology. Mr. Tian Xinli, Project Director at VeChain, used the opportunity and presented to forum attendees, including government officials and industry experts, with several use cases regarding the VeChainThor Blockchain in powering the tea industry.Signing ceremony of Anhui Tea Industry Association-VeChain partnershipWith a population of 62 million, Anhui is the 8th most populous province in China. The total GDP of Anhui Province is ranked as 12th highest of all provincial regions in 2017, and it is a major agricultural region and important tea production base. According to the General Office of the People’s Government of Anhui Province, the gross value of tea industry in Anhui is estimated to reach $7.1 billion by 2020. (News Source: Xinhua.com ). The tea industry is undoubtedly set on the fronts of poverty alleviation in the province, as many locals are engaged in the tea trade, often from the lower ends of the income bracket.In October 2019, President Xi Jinping gave a speech saying China needs to “seize the opportunities” presented by blockchain. President Xi mentioned that blockchain technology could be applied to many different fields, while highlighting the value addition of blockchain contributing to traditional economic poverty alleviation. During the forum in Yuexi County, Mr. Cheng Qian, member of the Standing Committee of Yuexi County, emphasized that Yuexi County is one of the Top Economic Tea Production Bases in the entire country. With an annual and increasing tea leaf production value of approximately $1 billion and 5910 tonnes of tea output, the tea industry in this area China is precisely vital for targeted poverty alleviation. He also stressed that the local government would do its best to support the development of its tea industry.Government officials and industry experts attending the meetingThe collaboration between VeChain and Anhui Tea Industry Association precisely fits the government’s aim to lift the competitiveness of all participants in the industry through blockchain technology. With VeChain technology, tea producers and stakeholders will stand to gain from increased efficiency and productivity in all stages of production in the supply chain as well in traceability efforts, which will strengthen the domestic and international presence of the Chinese tea industry. The partnership would leverage the VeChainThor blockchain in every way possibleAs a result, the increased efficiency, competitiveness will lead to an increased output, and thus will directly bring economic benefits for the locals who are involved in the tea trade, systematically improving their lives and uplifting their income. Also, as the partnership was signed with the Anhui Tea Industry Association itself which was established to affiliate large and small scale enterprises in the tea industry, this would mean that the VeChainThor Blockchain can potentially be deployed at scale for up to all of the 670 enterprise and 194 business owners through the Association’s various initiatives.It is worth mentioning that the credit for facilitating this partnership should given to one of our devoted community members in China, Mr. Xiao. VeChain would like to record its greatest gratitude for the introduction which eventually led to the signing of this partnership agreement.Adopting a community-first policy and together with our talented, resourceful and passionate community, VeChain will continue to relentlessly promote the mass adoption of blockchain technology in various fields.News from the official government website.About Anhui Tea Industry AssociationApproved by Anhui Provincial Department of Civil Affairs in 1997, Anhui Tea Industry Association was established in 1998. Guided by Requirements for the Development of Tea Industrialization in Anhui Province issued by Anhui Provincial People’s Government, the association aims to affiliate upstream and downstream stakeholders in tea industry to build a robust ecosystem featuring win-win cooperation.Currently, Anhui Tea Industry Association has 670 enterprise members and 194 individual industrial and commercial household members.For more information:http://www.aticoc.com/about.aspAbout VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners DNV GL and PwC, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com.For news inquiries, please email to email@example.comAnhui Tea Industry Association Partners With VeChain To Respond Chinese Government’s Call For… was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 12. 17
VeChain Foundation Announce...
December 13, 8:27pm (UTC+8), the VeChain Foundation buyback address was compromised. Approximately 1.1 billion VET tokens in this address were transferred into 0xD802A148f38aBa4759879c33E8d04deb00cFB92b, the hacker’s address. All the addresses associated with the said hacker’s address have been tagged on VeChainStats, the list is automatically updated as soon as the hacker sends any funds from the original hacker’s address.VeChain Foundation has been tracing the transfer of these VET Tokens in real-time and has taken several steps as outlined below to contain the situation.We have notified all exchanges to monitor, blacklist and freeze any funds coming from the hacker address and any withdraws from the corresponding exchanging wallets. We have paid special attention to the few exchanges which the hacker had sent funds to.We have launched an investigation into every fact around the address to determine the motive, method, and data flow behind this malicious act. We have narrowed down the possibilities enough to lead to a highly probable theory. Security breach was most likely due to misconduct of one of the team members within our finance team, who have created the buyback account without thoroughly obeying The Standard Procedure approved by the Foundation, and our auditing team did not pick up this misconduct, due to human error. We would like to emphasize that the incident is in no way related to the effectiveness of the actual Standard Procedure or VeChain’s hardware wallet solutions.We have enlisted the assistance of Hacken along with its whitehat community, and vechainstats.com teams to help with monitoring and containment of the situation. Their expertise in blockchain data management and cybersecurity will be of help to our efforts.We have also started a security check immediately on the other crypto assets under the custodian of the Foundation, to make sure no further breach will occur.We have reported this incident to law enforcement in Singapore.We will continuously monitor the situation and work diligently with cybersecurity and law enforcement professionals to add more clarity to the situation and mitigate as much as possible.This is an initial update to inform VET token holders of our current situation. A more detailed account of the event will follow once we gain more clarity.VeChain Foundation2019.12.14 00:44 (UTC+8)2019年12月13日，北京时间晚上8时27分，唯链基金会回购地址遭遇黑客事件。回购地址中约11亿VET被全部转移至如下黑客地址：0xD802A148f38aBa4759879c33E8d04deb00cFB92b。目前，与此黑客地址相关的所有地址已在vechainstats.com进行公示，所有接收到黑客资金的地址将会在此实时更新。唯链基金会在事件发生后的2小时内启动以下紧急预案：我们在第一时间对此黑客地址相关的所有资金去向进行全面追查，截断资金转账；并与各交易所取得联系，冻结来自此黑客地址的任何资金以及从相关交易所钱包提现的资金。Hacken团队正在积极协助唯链基金会对此次黑客事件所涉及的所有相关地址展开调查和监控；其在区块链数据管理和网络安全方面的专业经验，帮助基金会更快速高效地展开调查工作。经全面调查，由于唯链基金会内部财务人员在创建该回购地址时未严格遵守基金会制定的标准财务安全流程，且该员工电脑不幸遭受黑客攻击，最终导致本次事件发生，我们为此深表歉意。未来，唯链基金会将会进一步加强内部人员在实施各项标准流程时的管理和审计。我们已对唯链基金会所有的其他资产进行全面安全检查。唯链基金会所持有的其他地址均处于安全状态。我们已将本次事件通报新加坡警方，并紧密配合警方对此次黑客事件进行进一步追查。唯链基金会将对事件发展保持紧密关注，并协同技术与法律领域专业人士寻求最为安全合理的解决方案。本声明旨在向VET持有者及时说明事件情况，在掌握更多翔实信息后将会继续公开调查情况。唯链基金会2019年12月14日 00:44 （北京时间）
19. 12. 13
Kicking off the process of ...
Kicking off the process of achieving an updated and more decentralized governance model for the VeChainThor platform, powered by the launch of VeVoteSince the launch of the VeChainThor Blockchain, the VeChain Foundation team has been closely monitoring the operational status of the governance model as well as the feedback from our enterprise partners, developers and community.The VeChainThor blockchain has seen a continuous rise in adoption by major enterprises, startups and community, with more and more applications being deployed and run on the blockchain.In order to continue VeChain’s main goal of operating a decentralized public blockchain with the capacity to scale, and at the same time complying with regulators, governments and to meet the needs of large enterprises, the next step in VeChain’s decentralization journey is to improve its governance model with the ability for continuous iterations alongside rapid progression in ecosystem development.During the most recent Steering Committee meeting on November 11, 2019, the Foundation operation team proposed updates on the VeChain governance model. The Steering Committee members discussed at length about the most suitable governance model based on the current status of the VeChain ecosystem. As a result, an updated VeChain Foundation Governance Charter was compiled for the Steering Committee’s approval, which will be later incorporated into the VeChain whitepaper 2.0 upon approval.The updated charter includes the following major changes:Specified the scope of fundamental subjects that require all stakeholder votingRedefined the categories of stakeholders with voting authority as Authority Masternode, Economic X Node and Economic NodeAdjusted the voting authority model according to the new stakeholder categorizationStreamlined the all stakeholder voting procedureTo further foster the transparency of the VeChain governance model, we are excited to announce the launch of VeVote, a decentralized voting platform for the VeChain ecosystem.The VeVote platform supports two types of voting events, Steering Committee Voting and All Stakeholders Voting. The All Stakeholders Voting function of the platform will be available after the updated voting model is approved and incorporated in the Governance Charter. The VeVote platform provides an immutable, transparent and decentralized platform for stakeholders to cast their votes on important decisions based on their voting authority. The voting is done via VeVote smart contracts and the result will be recorded on the VeChainThor blockchain.The proposal for VeChain Governance Model updates has been published on the VeVote platform for Steering Committee members to cast their votes on. The ballot is open between Dec 6, 2019 10AM to Dec 13, 2019 10AM (UTC+8), and at least 5 affirmative votes are needed for the proposal to pass.Users can access the VeVote platform using Sync or the discover tab of VeChainThor mobile wallet. You will be able to see all upcoming and completed voting events, and the details of each proposal.The release of VeVote signifies a milestone step towards greater decentralization of the VeChain blockchain platform. With VeVote, all stakeholders are now empowered to determine the future of the VeChainThor blockchain. Remember, the future is in your hands.All proposalsProposal detailsVoting recordsKicking off the process of achieving an updated and more decentralized governance model for the… was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 12. 05
VeChain Partners with Coint...
VeChain Partners with Cointelegraph Consulting to Global Boost Enterprise Blockchain Solution AdoptionSingapore, December 4— As the world’s leading public blockchain platform, VeChain Foundation has strived for the mass adoption of blockchain technology to facilitate digital transformation. To achieve our vision, we have established numerous important and high level partnerships such as with DNV GL, PwC and Deloitte, as well as other small and mid-sized business partners. In an effort to accelerate the adoption of our blockchain solutions, we are always looking for new partners that will market our solutions with their established clients.Today, we are delighted and proud to announce that we have engaged with yet another prominent partner. Cointelegraph, the leading independent digital media resource announced that it is entering into partnership with VeChain, the world’s premier enterprise blockchain solution provider, which will further push VeChain’s blockchain services and adoption to even greater heights.The media conglomerate’s 8,779,000 monthly views, 1,359,430 followers on social networks, 20+ institutional partners which covers 9 major languages in the world, uniquely positions the newly formed Cointelegraph Consulting to be able to utilize this prominent network and experience for driving the adoption of blockchain innovations into enterprise ecosystems.In this partnership, Cointelegraph will collaborate with VeChain on several fronts. VeChain and Cointelegraph will co-brand and co-produce industry reports on enterprise blockchain adoption. Cointelegraph will organize enterprise level events globally for technology partners, which VeChain will leverage for maximum exposure. VeChain will also be listed on Cointelegraph’s solution provider page with detailed descriptions of VeChain’s intro, tech and use cases which will provide VeChain potential enterprise engagement leads.Furthermore, the VeChain team will provide utmost technical consulting and development services along with our partners for enterprises who want to take a significant step towards integration of blockchain backed solutions.Last but not least, the core goal of this partnership is for Cointelegraph to specifically matchmake between enterprises and VeChain’s Blockchain Solutions. Given that VeChain’s unparalleled track record for real world enterprise level implementations, it is only logical for both of our teams to collaborate.As a partner of VeChain, Cointelegraph Consulting will directly recommend their enterprise clients and partners to use and integrate VeChain’s enterprise blockchain solutions as they see fit to leverage the full potential of the VeChainThor public blockchain.The ability for rapid deployment of VeChain ToolChain™ and DNV GL’s My Story™ will certainly be mutually beneficial for both VeChain and Cointelegraph. This partnership will massively accelerate and simplify the adoption and integration of blockchain technology amongst Cointelegraph Consulting’s clients and partners, all while expanding the worldwide presence of the VeChainThor Blockchain.About CointelegraphFounded in 2013, Cointelegraph is the leading independent digital media resource covering a wide range of news on blockchain technology, crypto assets, and emerging fintech trends. Each day our team delivers the most accurate and up-to-date news from both the decentralized and centralized worlds.Our editorial content is based on our passion to deliver unbiased news, in-depth analytics, comprehensive cryptocurrency price charts, insightful opinion pieces, as well as regular reports on the social transformation that digital currencies bring.We believe that the decentralized world will grow exponentially, becoming an integral part of our daily lives. We work every day to help educate our readers and raise awareness of the intricacies and advantages offered in today’s digital revolution.With technology breakthroughs now occurring in fields such as AI, VR, nanotech, quantum computing, and an increasing number of businesses, entrepreneurs and consumers adopting blockchain technology in everyday life, we aim to inform, educate, and share valuable information with our readers.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners DNV GL and PwC, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com.For news inquiries, please email to firstname.lastname@example.org
19. 12. 04
DNP Initiates Circular Econ...
DNP Initiates Circular Economy Project Powered by VeChain ToolChain™ In Collaboration With Fresh Supply Co.November 29, Singapore — According to The 2030 Agenda for Sustainable Development, adopted by all United Nations Member States in 2015, there are 17 Sustainable Development Goals (SDGs). Many of the SDGs are addressing the core drivers of climate change, requiring sustainable actions and environmentally-friendly lifestyle on the global scale. Since efficient urban planning and management practices are laborious and costly, more corporate organizations have recognized that the blockchain technology can provide the answers to many of the issues around sustainability.The Dai Nippon Printing Group (DNP Group), one of the largest diversified printing companies in the world, as well as one of the official partners of the 2020 Olympic and Paralympic Games in Tokyo, has introduced a new sustainable and circular economy PoC project powered by VeChain ToolChain™ to contribute to the environmentally-friendly society. DNP has a market capital more than $10 billion, generating around $12800 million in annual revenue, and it currently produces over 30% of all drink bottles throughout Japan. This collaboration was made possible due to the efforts of our channel partner, Brisbane’s Fresh Supply Co., which strongly recommended and connected us with DNP Group.On 15 October, 2019, DNP presented The Time for Social Good project at the Demo Day of DBIC Singapore Innovation Acceleration Program. In collaboration with VeChain and Brisbane’s Fresh Supply Co (FSC), the project aims to incentivize people to recycle coffee cups by using blockchain technology to track their behaviors from purchase to disposal.8000 unique identifiers were generated for each cup on VeChainThor Blockchain, allowing customers to scan them using their mobile phones to gain information about the campaign. Through the digital identity software provided by FSC, DNP was able to capture information of consumers as well as geolocation of scans. Users had to scan the QR code on the cup, upload a photo of the cup or a selfie in front of the designated recycling bins in order to earn “Social Good” points. Every upload was recorded on the VeChainThor Blockchain as a new change in state for the cups from “purchased” to “recycled”.Since all information is securely time stamped onto the VeChainThor Blockchain protocol, anyone can verify the transaction, which are guaranteed to be accurate due to the immutable nature of the blockchain. When these users successfully earned a set number of points, they are then entitled to redeem a handcrafted bamboo flask created by a social enterprise from Indonesia.“This campaign educated coffee drinkers on how to recycle their coffee cups correctly by separating the lid from the cup,” said Sarah Nabaa, General Manager at VeChain SEA, “Public blockchain is as an enabler for sustainability initiatives, it serves especially well as a driver for all stakeholders to make a circular economy work. ”Launched in April 2019, VeChain ToolChain™ serves as a comprehensive one-stop data BaaS platform that drives business value for the real economy, offering services to various industries such as LNG, fashion, automobile, retail and more. Aiming to lower the threshold of blockchain technology adoption, VeChain ToolChain™ allows both large and small scale enterprises to adopt blockchain effortlessly.David Inderias, CEO and Co-founder of FSC said: “A public chain solution allows corporates to quantify and objectively prove the actions taken in line with these SDGs — in TFSG case particularly UN SDG 9.”Junichiro Yamashita, Lead Researcher for DNP Group said: “When it comes to recycling, blockchain technology is cost-effective and makes sense for an eco campaign like Time For Social Good. Without having to invest money in embedding IoT on separation bins, we were able to effectively track the lifecycle of coffee cups by using consumer’s smartphone as the smart device. ”This unique, three-way PoC collaboration proves the potential of blockchain to reshape sustainability management and perfectly showcases how VeChain ToolChain™ can be leveraged by traditional enterprises. Not only does VeChain ToolChain™ provide DNP Group with a full-featured traceability system, but also information integration, advanced marketing, consumer incentivization and interaction models that none of the traditional methods can achieve.The VeChainThor Blockchain serves well as an open platform where many different partners can participate in the same platform to freely collaborate with each other to achieve common goals. This collaboration between Fresh Supply Co., DNP Group and VeChain will pave the way for the possibility of integrating VeChain blockchain solutions in even more aspects of DNP Group’s business, while Fresh Supply Co. will continue to assist in introducing and implementing VeChain ToolChain™ in more of their enterprise clients.About DNPDNP, Dai Nippon Printing, was established in 1876 as the first full-scale printing company in Japan. Expanding printing technology has been a fundamental DNP policy since the 1950s. They have diversified operations to include packaging, decorative materials, electronic components, and information media supplies. A wide variety of DNP products and services are essential in our daily lives. These products and services enrich every aspect of our lives, and their undisputed reputation makes them natural choices for businesses and consumers alike. By combining innovative technology and expertise, DNP offers products and services that can help fulfil dreams, enrich everyday life, and enhance communication. DNP has become an integral part of the information communication industry.For more information, please visit: https://www.dnp.co.jp/eng/index.htmlAbout Fresh Supply Co.Fresh Supply Co. serves as a marketing technology company for fresh food products.Started as a blockchain company, Fresh Supply Co aims to turn traceability into a powerful marketing piece involving all stakeholders, including producers, retailers and consumers. By working with strategic partners, the company solves supply chain problems whilst creating great solutions.For more information: https://freshsupplyco.com/About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain has evolved into a PoA based public blockchain platform with balanced governance and economic model. As the ecosystem enabler, VeChain has been dedicated to empowering builders. VeChain provides commercial blockchain-as-a-service solutions, off- the-shelf blockchain applications, IoT devices and turnkey solutions on the public blockchain infrastructure and enabled its partners to create business value with the blockchain technology.Through years of efforts, VeChainThor Blockchain-based business applications have now been adopted by major corporations for day to day operation and added value to their businesses. Together with its strategic partners, PwC and DNV GL, VeChain has collaborated with world-leading enterprises from large industries including Walmart China, BMW, BYD Auto, PICC, H&M, LVMH, ENN Haier, AWS, etc.For more information, please visit: vechain.org/DNP Initiates Circular Economy Project Powered by VeChain ToolChain In Collaboration With Fresh… was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 11. 29
VeChain, Together With Meng...
VeChain, Together With Mengku Rongshi, Yunlian and Linova, Announced The Government Officially Endorsed Blockchain-enabled Yunnan Pu’er Tea Traceability PlatformNovember 14, Shuangjiang, China- On November 13, The Conference of Yunnan Pu’er Tea Traceability Platform was successfully held by the People’s Government of Shuangjiang County, with government officials attendees from People’s Government of Lincang City, Chinese Academy of Agricultural Sciences Tea Department, Yunnan Tea Traceability Association and so forth. VeChain, together with Menku Rongshi, Yunlian, and Linova, announced the Yunnan Pu’er Tea Traceability Platform powered by VeChain ToolChain™.Pu’er tea is a class of fermented teas primarily grown and processed in the province of Yunnan. In 2018, the total production volume of Pu’er tea in China reached 172,000 tons. Similar to wine, some branded Pu’er tea are viewed as luxury collectible consumables, commanding north of $3500 per kilogram, and some selected brands and vintage can fetch astronomical pricing during auctions. During an auction in Hong Kong on May of 2019, 7 bricks of old Pu’er vintage lot weighing 2320 grams (Lot 128 Hundred Year SongYu. Blue Label) fetched over 15.6 million HKD or $2.0 Million U.S. Dollars.Being massively popular, and given the valuable nature of Pu’er tea in Chinese societies, safety, quality and in this case, authenticity of these luxury consumable products have become major factors of concern. In a report as recent as Oct of 2019, CCTV reported that counterfeiting of Gushu Pu’er tea (Old Tree Pu’er) was prevailing in Yunnan, with inferior goods priced high and fake labels attached to unqualified products. Facing the challenge, a policy paper titled The Protection of Gushu Tea Resource was issued in July, 2019, urging to establish a regulatory framework over the production of Gushu tea before 2020. The governor of Yunnan Province, Mr. Ruan Chengfa, also highlighted the necessity of “one-product-one-code” in anti-counterfeiting solutions of gushu tea.Heeding the call of the Chinese Central Government on product traceability, Mengku Rongshi and Linova chose to collaborate with VeChain and its channel partner Yunlian to co-develop the Yunnan Pu’er Tea Traceability Platform based on the BaaS platform VeChain ToolChain™ to tackle this long-existing and multi-billion dollar problem. The blockchain-powered system will provide transparent and trustworthy tea trades benefiting both producers and customers.The Yunnan Pu’er Tea Traceability Platform is one of the first third-party platforms that have been indexed into the National Important Products Traceability System.Lu Xiutian speaking on the conferenceThe first batch introduced in the traceability platform to be tracked using the VeChainThor blockchain will be 200,000 Pu’er tea bricks produced by Mengku Rongshi, the leading brand renowned for deluxe branded Pu’er tea. Given the large scale of tea production in Yunnan, the platform aims to cover a much larger market share going forward.Mr. Lu Xiutian, the representative from the Department of Commerce of Yunnan Province, delivered a speech saying, “Yunnan Province has been devoted in building a coordinating food traceability system. Therefore, we should attach great significance to this tea traceability platform, sparing no efforts to ensure every tea brick has traceable origin, verified proper distribution and logistics, and authentic qualification, which can certainly raise the reputation of Yunnan tea globally.”Each product transferred on the Yunnan Pu’er Tea Traceability Platform will be bounded with either unique QR codes or NFC chips that is embedded with a solitary smart ID. During the whole lifecycle of a tea brick, including raw material, fine processing, warehousing, channel distribution, in-store selling, end-users, and recall if necessary, the platform can record all related information and data to be uploaded onto the VeChainThor Blockchain by IoT devices. Once the customers scan the QR code or NFC tag using their smartphone, they can have instant and direct access to all the information.A glance at the traceability information built on the VeChainThor Blockchain accessed using a smartphoneMr. Qian Chengcheng, CBO at VeChain, stressed that, “As the leading enterprise-friendly public blockchain platform, VeChain is committed to powering the real economy and releasing the untapped business value by reliable blockchain technology. The Yunnan Pu’er Tea Traceability Platform has a meaningful impact on the mass adoption of blockchain in the tea industry within Yunnan Province and across the domestic market. In addition, this use case can be used as a reference for other regional premium agricultural products such as Yangcheng-Lake crab and Wuchang rice.”Using a public blockchain, the platform enables enterprises to monitor each section of production, lower the hindrance of supervision, and contain firm risk control. For the customers purchasing high-end products, they will have access to authentic information to acknowledge the origin, safety and processing of the tea. In addition, the immutable and transparent nature of the data on the VeChainThor Blockchain is adequate to support government authorities or third-party agencies to effortlessly audit and archive valuable information.Intended to scale, the Pu’er Tea Traceability Platform intends to take larger steps and trace a wider range of products, eliminating information asymmetry, counterfeiting and other factors that may sabotage the reputation of Yunnan tea, which will ultimately bring positive attributes to the whole domestic tea industry in the future.About Menkgu RongshiEstablished in 1999 in Shuangjiang county, Mengku Rongshi is currently the leading company in Chinese tea industry, covering upstream and downstream tea business from research, planting, garden management, processing, warehousing, selling, and related tourism. Mengku Rongshi runs a premium Pu’er tea production base starred by The Food and Agriculture Organization of the United Nations, and is renowned by multiple prizes includes “Top 10 tea products in Yunnan”, “Top 10 pu’er tea brands in Yunnan”, etc. The company presently owns 56,000 mu (approximately 3733 hectares) of tea garden, and the products have gained reputation in domestic and overseas markets.About LinovaLinova is dedicated to providing clients with comprehensive traceability solutions integrated with blockchain technology、NFC chips and other devices to ensure information security, and assisting clients to achieve reliable data storage and data verification.About YunlianAs a partner of VeChain, Yunlian is dedicated in providing blockchain solutions based on experience in business counseling, business management, information system and blockchain industry. Yunlian aims to support innovative transformation of the government and enterprises by three-in-one services: IT+OT+Blockchain.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, H&M, LVMH, D.I.G, ENN, AWS, PICC, ASI etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com. For news inquiries, please email to email@example.com
19. 11. 14
VeChain Attended The Capita...
VeChain Attended The Capital 2019 and Showcased Limited Edition Artworks Powered by VeChain ToolChain In Collaboration With CoinMarketCapSingapore, November 13- VeChain attended The Capital 2019 held by CoinMarketCap from November 12 to 13 in Singapore. All 100 pieces of limited edition series of The Capital Artworks, powered by VeChain ToolChain™, were showcased and bestowed on VIP speakers.As the first-ever event initiated by CoinMarketCap, the most-visited cryptocurrency information website with over 3.6 billion sessions and 125 million active users around the world, The Capital 2019 intends to gather stakeholders in all segments of crypto world, including startups, enterprises, academy etc. to have vibrant conversations around blockchain. Positioning itself as the enabler for blockchain adoption, VeChain attended the event to connect with global minds in the industry.Sunny Lu, co-founder & CEO at VeChain, delivered a keynote speech at the conference stating that, “VeChain aims to exploit the massively untapped business world and generate long-term network effect and value creation by blockchain technology, making VeChainThor Blockchain the most valuable public blockchain for enterprises. As a one-stop comprehensive blockchain solution, VeChain ToolChain™ enables enterprises to effortlessly integrate data and assets with blockchain to enhance collaboration with external parties and add value to its business, which is the major positive attribute for us to achieve the vision in the future.”On this occasion, VeChain has partnered CoinMarketCap to showcase the ease of use of VeChain ToolChain™. This collaboration involves the introduction of a limited edition series of artwork created by CoinMarketCap especially for VIP participants of The Capital 2019, bringing meaningful impact and awareness for the application of blockchain in the art world and industry, which ultimately would increase the mutual trust between vendors and buyers.Each respectively embedded with an NFC chip, the artworks are ensured in authenticity and traceability due to the immutable nature of blockchain technology. Once the VIP recipients of the artwork scans the NFC chip using a smartphone, not only can they inspect written details about the artwork uploaded onto the VeChainThor Blockchain, but also find their own pre-registered names for ownership verification appearing on the customized information page.Spencer Yang, Head of Special Projects at CoinMarketCap, mentioned in his speech that, “The Capital is established to examine the wide-ranging compliance of cryptocurrencies and blockchain. Meanwhile, featuring unique friendly development toolsets, VeChain is dedicated to promote mass adoption of blockchain technology, which perfectly fits our rationale of partnership criteria. This series of limited edition of artworks is a novelty presented for speakers, and a brand-new use case for VeChain ToolChain™.”On November 11, VeChain also co-hosted The Capital Warm-up Party with CoinMarketCap and OceanEx, gathering over 500 attendees from all over the world. Supported by the industry-leading media such as Crypto Briefing, ChainNews, and Blocks.Tech, the party provided exclusive and premium networking opportunities within blockchain industry.The VeChainThor Blockchain and VeChain ToolChain™ has been driving tangible business outcomes in various fields, delivering the integration and implementation of blockchain technology in various enterprise partners such as Walmart China, H&M and LVMH, with proven use cases in industries such as supply chain, fashion, LNG, logistics and more. This collaboration between VeChain and CoinMarketCap shows further potential of applying blockchain technology in the artwork industry.About The CapitalCoinMarketCap is organizing its inaugural global event, “The Capital” on 12–13 November 2019, in Singapore. As a fully-remote company with no office anywhere in the world, CMC are creating The Capital for all users, partners and stakeholders to gather in a different place each year — and creating a space where the agenda isn’t one governed by a single constituent, but one made by the leaders of projects (representatives) and the community of investors and enthusiasts (citizens).For more information, please visit: https://conference.coinmarketcap.com/#aboutAbout VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain has evolved into a PoA based public blockchain platform with balanced governance and economic model. As the ecosystem enabler, VeChain has been dedicated to empowering builders. VeChain provides commercial blockchain-as-a-service solutions, off- the-shelf blockchain applications, IoT devices and turnkey solutions on the public blockchain infrastructure and enabled its partners to create business value with the blockchain technology.Through years of efforts, VeChainThor Blockchain-based business applications have now been adopted by major corporations for day to day operation and added value to their businesses. Together with its strategic partners, PwC and DNV GL, VeChain has collaborated with world-leading enterprises from large industries including Walmart China, BMW, BYD Auto, PICC, H&M, LVMH, ENN Haier, AWS, etc.For more information, please visit: www.vechain.org
19. 11. 13
VeChain, Together with ASI ...
VeChain, Together with ASI Group and DNV GL, Announced the First Cross-continental Logistics And Trades Solution Based on Public Blockchain for Food & Beverage Industry On The 2nd CIIENovember 7th, Shanghai, China — VeChain, the leading enterprise-friendly public blockchain platform, attended The China International Import Expo 2019 (CIIE). Held from November 5 to November 10, 2019, the CIIE 2019 is a major initiative of the Chinese government to give firm support to trade liberalization and economic globalization and actively open the Chinese market to the world. The event has attracted more than 3,000 companies from over 150 countries and regions, including 250 of the Fortune 500 companies such as Qualcomm, Panasonic, LVMH, Samsung, and Bombardier.In the first CIIE, VeChain showcased various blockchain solutions to potential enterprise customers and government officials. This year, together with its strategic partner DNV GL, VeChain announced a tripartite collaboration with ASI Group to initiate the first cross-continental logistics and trades solution powered by the VeChainThor public blockchain for food & beverage industry named Foodgates. It is the first of its kind solution as it is powered by a public blockchain with verified and certified information of the full lifecycle of the products being tracked, such as from cow selection, slaughtering, packing, cross-continental shipping all the way to restaurants for beef products. The announcement was made on November 7, during the press conference organized by the France China Committee, which belongs to the Mouvement des Entreprises de France (MEDEF), the leading network of entrepreneurs in France with more than 750,000 member firms.Two days before the press conference, on November 5, 2019, French President Emmanuel Macron attended the opening ceremony of CIIE and discussed various ways to push pragmatic cooperation with his Chinese counterpart, President Xi Jinping on this 55th anniversary of China-France diplomatic relations. Meanwhile, Chinese President Xi Jinping and the Chinese delegation had a tasting session of the Limousin Label Rouge Beef from Limousin Promotion introduced by President Macron. This meat has been imported thanks to the first cross-continental logistics and trades solution Foodgates, based on VeChainThor public blockchain jointly developed by ASI Group, VeChain and DNV GL. This event is especially significant after President Xi had recently embraced blockchain technology and urged its development on a national level in China. VeChain, being a global blockchain technology platform provider with significant resources in China and Europe will be a direct beneficiary of this bullish shift by the second largest economy in the world.Image source: Xinhua (Chinese State Media) Chinese President Xi Jinping and French President Emmanuel Macron in conversation after enjoying Limousin Label Rouge Beef tracked using Foodgates.According to France 24, China is currently the 7th largest trading partner of France, having imported French goods accounted for $24.5 in 2018. The bilateral trade volume between China and France surpassed 60 billion U.S. dollars, hitting a record high last year and will continue to increase. The Chinese state-owned media Xinhua also highlighted multiple categories of France’s exports that are seeing fast growth, which includes agricultural products.ASI Group is specialized in logistics, supply chain, import solutions and global trade, providing value-added applications, built-to-suit solutions and covering 180 countries. Now, ASI Group joins hands with VeChain and DNV GL to combine their current business with blockchain technology and third party assurance to develop the new Foodgates platform. Foodgates aims to provide a world premium, trusted blockchain-powered platform for international buyers and consumers of high-end food & beverage products, safeguarding product quality and safety. On Nov 6, Foodgates — B2B F&B digital platform linking French producers and Chinese professional buyers — entered into a MoU with the Henan Pilot Free Trade Zone to kick off the collaboration to import food products from France to the FTZ.Mathieu Borgé speaking on the conferenceMathieu Borgé, Co-founder of Foodgates, quoted French president Macron, stating that:“French savors pair well with Chinese taste,’’ adding “We developed a solution which connects the best of French products to Chinese buyers. We know that traceability and authenticity are essential when it comes to Food & Beverage products. Our blockchain-powered platform is aimed at bringing transparency and traceability to the French-Chinese B2B market, while enabling French producers to access the great Chinese market faster and safer.”Blockchain expertises and development team from VeChain provided comprehensive technical support, from underlying public blockchain protocol, smart contracts, the VeChain ToolChain APIs for docking to the consulting services for business systems. This business-need-oriented yet agile approach gives VeChain huge competitive advantages in the enterprise blockchain space. DNV GL will assure that the scaled trade platform’s rules are defined for all producers and their products, ensuring that transparent and consistent data are logged onto the VeChainThor public blockchain.“VeChain is committed to adopting blockchain technology to power the real economy, and it has been a privilege to jointly develop this cross-continental logistics and trades solution with ASI Group and DNV GL. The immutability of public blockchain coupled with verifiable information makes this solution really unique and provides an additional level of trust for the consumers. We see the massive potential of this collaboration, as the products are reaching out to an enormous food market in China.” said Kevin Feng, the COO at VeChain.Powered by VeChain ToolChain, Foodgates empowers a wide variety of products, including renowned labels including The Concours Général Agricole Paris (CGA), Cochon Paysan, Blason Prestige, Qualité Limousine, and Label Rouge. Ranging from Label Rouge Limousin beef and pork to Boisset wine from Burgundy, the solution enables Chinese buyers to purchase excellent French products with total and transparent assurance about the origin, quality, safety and end-to-end traceability. In addition, French producers could have a direct and efficient access to the Chinese market, which creates a trustworthy bridge between both ends.Following the announcement during the CIIE press conference, a gourmet dinner will be co-hosted by ASI Group, VeChain and DNV GL to provide first hand experience of the blockchain powered trusted platform for food. Over 50 distinguished guests have been invited, including government officials, journalists from both French and Chinese news outlets, and executives from industries across retail, supermarkets, meat producers, hotels, and all of them will be served with beef and pork imported from France on the Foodgates platform.On October 24, 2019, Chinese President Xi Jinping underscored the importance of blockchain in technological innovation and industrial transformation. The adoption of VeChain blockchain technology is facing unprecedented market opportunities, which greatly cemented this blockchain-powered partnership.VeChain will stick to our vision, which has always been powering and creating business value to the real economy. With the market maturing and evolving and interest towards blockchain adoption at an all time high, there will be even more use cases developed on the VeChainThor public blockchain in the near future.—About ASI GroupASI Group is specialized in Logistics, Global Trade, Supply Chain and Import solutions. The company support businesses at every step of their growth and Supply Chain international development. With a set of different companies in Logistics and Freight Forwarding, Global Trade and Supply, has been business facilitators between Europe in China, acquiring a strong expertise and network in both the European and Asian continents over the years, working with big1 retailers such as Auchan, Carrefour, BYD, Metro, etc.About DNV GLDNV GL is a leading provider of risk management and quality assurance services. The company is also a global leader in certifying management systems of companies across all types of industries, including F&B. Since 1864, its purpose has been to safeguard life, property and the environment. Passionate about safety, quality and integrity, companies turn to DNV GL to make complex decisions with confidence. DNV GL helps them manage their most critical risks and demonstrate compliance with regulations and standards.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, Bright Food, D.I.G, DB Schenker, PICC, etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website www.vechain.com. For news inquiries, please email to firstname.lastname@example.org
19. 11. 07
VeChain Is Attending The Ca...
Shanghai, November 3- VeChain, the leading enterprise-friendly public blockchain platform, is attending The Capital held by CoinMarketCap on November 12 and 13 in Singapore.CoinMarketCap is one of the most prominent information resource platforms in the crypto world, which tracks the market capitalization of different cryptocurrencies and the volume of trades across multiple exchanges. As the first event initiated by CoinMarketCap, The Capital is geared towards bringing together important stakeholders in the blockchain, including government, technology, finance industries and more to connect and have global conversations on crypto asset adoption, liquidity and discovery.Sunny Lu, co-founder and CEO at VeChain, was invited by CoinMarketCap as a keynote speaker to deliver a speech at The Capital. Sunny Lu will share his insights on current established real-world use of blockchain technology, focusing on the cases of VeChainThor’s enterprise adoption among Fortune 500 enterprises, and its potential in even more use cases to come.Positioning itself as an enabler in the VeChain blockchain ecosystem, VeChain is dedicated to promoting the adoption and implementation of blockchain, and using the VeChainThor public blockchain platform to drive business value for the real economy. VeChain continues to develop new innovations in blockchain technology that will drive the next phase of growth in the industry.As both parties envision the inevitable integration and mass public adoption of blockchain technology in the near future, VeChain and CoinMarketCap have decided to collaborate with each other by introducing a new limited edition of artwork powered by VeChain ToolChain for the festival. More details regarding the artwork collaboration between VeChain and CoinMarketCap will be announced soon.Alongside with idea sharing and brainstorming, VeChain will also be presenting business case studies of distributed ledger technology powered by the VeChainThor blockchain in several industries, opening arms to all attendees to experience blockchain-based applications built by using VeChain ToolChain, a powerful solution launched in April 2019. Targeted at different levels of enterprise users, VeChain ToolChain has two versions: the Standard Version ready for immediate use, and the Developer Version available with advanced customization features. As a comprehensive one-stop blockchain solution, VeChain ToolChain allows enterprises and individuals to adopt blockchain effortlessly without technical knowledge required, instantly.The VeChain ToolChain has been driving tangible business outcomes in various fields, delivering the integration and implementation of the VeChainThor public blockchain in various Fortune 500 enterprise partners such as Walmart China, covering industries including but not limited to: automobile, LNG, agriculture, liquors, and more. This collaboration between VeChain and The Capital shows further potential of applying blockchain technology in the artwork industry.Aside from the keynote speech, VeChain is also co-hosting a side event together with OceanEx and CoinMarketCap named the Warm-Up Party during the conference. More information on this event will be revealed soon. Registrations for the event has already been opened, and the public is invited to scan the QR code or click the link to register and join us on 11 November.About The CapitalCoinMarketCap is organizing its inaugural global event, “The Capital” on 12–13 November 2019, in Singapore. As a fully-remote company with no office anywhere in the world, CMC are creating The Capital for all users, partners and stakeholders to gather in a different place each year — and creating a space where the agenda isn’t one governed by a single constituent, but one made by the leaders of projects (representatives) and the community of investors and enthusiasts (citizens).For more information, please visit: https://conference.coinmarketcap.com/#aboutAbout VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain has evolved into a PoA based public blockchain platform with balanced governance and economic model. As the ecosystem enabler, VeChain has been dedicated to empowering builders. VeChain provides commercial blockchain-as-a-service solutions, off- the-shelf blockchain applications, IoT devices and turnkey solutions on the public blockchain infrastructure and enabled its partners to create business value with the blockchain technology.Through years of efforts, VeChainThor Blockchain-based business applications have now been adopted by major corporations for day to day operation and added value to their businesses. Together with its strategic partners, PwC and DNV GL, VeChain has collaborated with world-leading enterprises from large industries including Walmart China, BMW, BYD Auto, PICC, H&M, LVMH, ENN Haier, AWS, etc.For more information, please visit: www.vechain.orgVeChain Is Attending The Capital 2019 Held by CoinMarketCap in Singapore was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 11. 03
VeChain Attended San Franci...
San Francisco, United States, November 2 — The second annual San Francisco Blockchain Week (SFBW 2019), one of the world’s largest events focusing on innovation and entrepreneurship in the world of blockchain, has been held from October 28 to November 3. After hosting the first ever VeChain Summit at the same city on April 18, 2019, VeChain attended the event to connect on industry trends and issues on decentralization and cryptocurrencies with the leading global minds. Other participants included entrepreneurs, academics, financial institutions, startups, students, governments, regulators, and global corporations. The event was attended by notable figures such as Hester M. Peirce from U.S. Securities and Exchange Commission and Vitalik Buterin, co-founder of Ethereum.Since the establishment of the project, VeChain has not only been continually expanding the ecosystem to bring a wider range of innovative solutions to enterprises (such as Walmart China, BMW, LVMH, etc.), but also spared no efforts in building an increasingly compelling community for all partners.At the SFBW 2019, VeChain co-hosted BUIDLer Assembly in Epicenter on 31 November, a panel talk aimed to encourage more builders to join in and create value for the real economy by leveraging blockchain technology. The guest lineup brought together pioneering practitioners and researchers, which includes Sunny Lu (Co-founder & CEO at VeChain), Xiaoning Nan (Founder & CEO at OceanEx), John Dempsey (Founding Director & CEO at 8Hours), COO Zack (Co-founder & COO at CyberX), and Alyssa Tsai (Founder & CEO at PANONY and PANews). Apart from the analysis of existing landscape of services and infrastructures in blockchain industry, technology innovation and blockchain-enabled services were discussed by the panelists during the discussion.Sunny Lu, Co-founder and CEO at VeChain stressed that, “We believe real business applications is the next key step to drive value creation, and VeChain is born to tackle this challenge. We are doing just one thing — exploiting and maximizing the value of data on the blockchain. Enterprises, including insurance companies, auditing companies and so on, are using unique features of blockchain, which is openness, immutability and transparency. And, VeChain helps them to save cost, increase efficiency, and scale the business from an exclusive area to a broader market.” Undoubtedly, the increase of data value on the blockchain will lift the value of VeChain’s technology and the influence of VeChain’s cryptocurrencies.Nowadays, with resources pouring into blockchain technology by investors and governments, the industry is in need of more professional players with deeper business acumen. Characterized by openness and collaboration, VeChain’s ecosystem welcomes a wide variety of builders, including enterprises, startups, developers and other members in the community. VeChain, together with all partners, is committed to providing comprehensive support for builders to meet their diverse needs, to create real value and to build sustainable business models.At the event, the VeChain Foundation introduced VeChain Builders, a dedicated new section on the VeChain official website, allows users to easily navigate and explore blockchain-related information and toolsets to address their pain points and lower their adoption efforts. The new website targets all builders and parties interested in building on top of blockchain, including community developers, startups, enterprises and more.During the BUIDLer Assembly, which brought together builders from different industries and sectors, a discussion on the expansion of blockchain adoption was held. With increasingly fine-grained and defined use cases, real-world adoption seem to be in full progress in various fields of applications, including fashion, LNG, automobile and so forth. Positioning itself as an Enabler in the ecosystem, the VeChain Foundation has been committed to continue maintaining and improving the VeChainThor Blockchain, the world’s leading enterprise-friendly public blockchain platform, and power the real economy and facilitate digital transformation.“The development of public blockchain generally has three major steps: the underlying technology, the community and the ecosystem. In terms of cooperation with enterprises, the scale and scope of blockchain-based applications are still in early stages. I believe choosing a stable and reliable public blockchain such as the VeChainThor Blockchain is vital under current circumstances .” Nan Xiaoning, Founder & CEO at OceanEx said.John Dempsey, Founding Director & CEO at 8Hours, commented: “Speaking of public blockchain, I think VeChain’s underlying blockchain technology has great synergy for NFC physical object tracking. Their blockchain solutions are conducive for actual businesses process, especially for our product that deals with both physical and digital assets. We rely heavily on VeChainThor’s advanced fee delegation and transaction batching features such as MPP and MTT, which are natively implemented in our core product.”Aside from the BUIDLer Assembly panel event, VeChain also co-hosted the exclusive networking party BUIDLer Reunion Night with OceanEx and Noris Capital on November 1, 2019, and over 200 companies joined in the event. Open to the public with registrations for free coupled with top-of-the-line media support such as ChainDD, ChainNews and PANews, all attendees enjoyed both in-depths conversations on blockchain and conducted valuable networking activities.About SF Blockchain WeekSan Francisco Blockchain Week is where blockchain startups, enterprise companies, academics, developers, and investors from around the world come together to define the future of blockchain and cryptocurrencies.For more information, please visit https://sfblockchainweek.io/.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain has evolved into a PoA based public blockchain platform with balanced governance and economic model. As the ecosystem enabler, VeChain has been dedicated to empowering builders. VeChain provides commercial blockchain-as-a-service solutions, off- the-shelf blockchain applications, IoT devices and turnkey solutions on the public blockchain infrastructure and enabled its partners to create business value with the blockchain technology.Through years of efforts, VeChainThor Blockchain-based business applications have now been adopted by major corporations for day to day operation and added value to their businesses . Together with its strategic partners, PwC and DNV GL, VeChain has collaborated with world-leading enterprises from large industries including Walmart China, BMW, BYD Auto, PICC, H&M, LVMH, ENN Haier, AWS, etc.For more information, please visit: www.vechain.orgVeChain Attended San Francisco Blockchain Week 2019 and Showcased The New VeChain Builders Website was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 11. 02
Announcing The New Official...
Since the launch of the VeChainThor mainnet on June 30th, 2018, VeChain has continuously emphasized and supported community-based development, consistent with our role as an Enabler in the ecosystem.To develop a mature and inclusive public blockchain that aims for mass adoption, we have envisioned an ecosystem that is built by all the stakeholders, including enterprises, government authorities and especially community developers. As the Enabler in the ecosystem, the VeChain Foundation has been committed to encourage, assist and supplement all of builders to be more successful with their endeavors than if they were to build their startups without the VeChain Foundation.We have served over 30 Fortune 500 level enterprise builders, and several community startups as well.Our commitment to the community is evident by VeChain partnering and spotlighting the VeForge Explorer and VeForge Vault for Ledger Wallet developed and maintained by community developer group and startup Totient Labs, rather than using our in-house developed solutions for a public block explorer and Ledger wallet support.The VeChain Foundation has been supporting Totient Labs with marketing promotion and technical support. Additionally, The Foundation has provided over $100K USD to the Totient team in the form of prizes and bounties (at the date/time of reward, which is more than any other pure reward funding for any projects by the VeChain Foundation).Besides the monetary and financial support provided, products by Totient Labs such as the VeForge Explorer and VeForge Vault has been positioned and spotlighted as the de facto official block explorer and Ledger Integration Interface in various official channels, including but not limited to the official website, technical documentation portal, social media (Twitter, Reddit, Telegram, Facebook), and promoted by our community management team as such.In addition to that, we have also invited the Totient Labs team to speak as Keynote Speakers on the same stage amongst our partners such as DNV GL and Deloitte, in the inaugural VeChain Summit 2019 in San Francisco to present their business plans and products to professional developers, enterprises as well as connecting them with numerous VCs and investors for their various technical and business projects. Totient Labs was indeed one of our most supported community startups.Unfortunately, it is to our surprise that we and the Community had been given a sudden, last-minute short notice by Totient Labs today (20 October, 2019) that they have decided to discontinue their VeForge services including the Explorer and Vault on Monday, 21 October 2019 12:00 PM PDT.We sincerely express our gratitude to our partner Totient Labs that has been diligently contributing to the VeChain Ecosystem by building much-loved tools and services and proposing the idea of VIP191 which was later formalized and developed by the VeChain dev team, and wish the folks within Totient Labs well with their business endeavors.Today, VeChain is announcing two new official, in-house developed solutions that will be actively maintained by the core development team: the VeChain Official Blockchain Explorer and the VeChain Sync Official Ledger Wallet Interface.The new solutions will serve the community as VeForge and Vault had always been, and more.1. VeChain Official Blockchain ExplorerWe have decided to reinstate the project of an in-house developed VeChain Blockchain Explorer. The explorer will have richer functions and we plan to continuously update and add new features to it. Some of the planned features are as follows:Integration with Token Registry & Application Hub so that VIP180 token issuers and dApp developers are able to add the token or dApp info to the explorer simply by submitting a Pull Request to the open source data repositoriesRobust APIs for third parties such as dApps, exchanges, wallet providers to easily integrate the VeChain blockchain and inquire accounts, tokens, transactions, block information historyIntegrate with VeChain Authority Masternode Dashboard which is in the process of being developed. As mentioned, we work diligently with Authority Masternode holders to formalize the node management and monitoring process so that they will be comfortable with letting the public know who are operating the Authority Masternodes. With the VeChain Authority Masternode Dashboard, the public will be able to see the information disclosed by the Authority Masternode holders and the real time running status of the Authority MasternodesThe VeChain Official Blockchain Explorer will go live by the end of November. In the meantime, as an alternative, you can use VeChain Insight, a functional and serverless VeChain blockchain explorer developed by our core dev team to inquire accounts, tokens, transactions, block information.In addition to that, we have notified exchanges to redirect the transaction links to VeChain Insights to avoid any service disruption to users. Also, other community developed projects such as VeChain Stats can still be used to monitor mainnet activities, VTHO consumption / burn and many other useful statistics and graphics.2. VeChain Sync Official Ledger Wallet InterfaceWe are aware that the VeForge Vault is currently the main portal and interface for Ledger Wallet users to access their VeChain wallet. The closure of the VeForge Vault by Totient Labs will temporarily impact Ledger users. Ledger users will not be able to access their tokens when Totient Labs turn off access to the VeForge Vault Interface.However, please be rest assured that your VET and VIP180 tokens are completely safe and intact on the blockchain even with VeForge Vault being discontinued.The VeChain team has already been working with the Ledger team to improve the VeChain app on Ledger. Once this process is complete, the new method to access your ledger wallet will be through our desktop wallet and dApp browser, Sync. Ledger users will be able to use their Ledger VeChain wallet address in Sync to access their VET and VIP180 tokens, enjoy and use dApps and sign transactions.The new VeChain Sync Official Ledger Wallet Interface will be available within two weeks starting from 21 October, 2019.Screenshots of the updated Sync in works that allows users to access their VeChain Ledger WalletsA message to the communityThe VeChain Foundation wants to take this opportunity to emphasize that we will stay committed to supporting ecosystem builders on the VeChainThor Blockchain. The Foundation will continue its numerous monetary and non-monetary grants to aspiring start-ups and community builders as well as offering technical support from the core development team.The Foundation believes that with our technical and non-technical support, management teams and community developers can fully focus on deriving a functional business, monetization and sustainable growth model for their projects.We wish Totient Labs the best for their future business endeavours.Summary and FAQQ1: What is the VeForge Explorer and when will it be discontinued? What will replace it?The VeForge Explorer is a VeChain blockchain explorer developed by Totient Labs, a community development team. As officially communicated to us by Totient Labs, it will be discontinued on Monday, 21 October 2019 12:00 PM PDT. The VeChain development team reinstated the project of an in-house developed blockchain explorer which will go live by the end of November. In the meantime, VeChain Insight can be used.Q2: What is the VeForge Vault and when will it be discontinued? What will replace it?The VeForge Vault is a user interface for VeChain Ledger users to access their wallets developed by Totient Labs, a community development team. As per Totient Labs, it will be discontinued on Monday, 21 October 2019 12:00 PM PDT. The VeChain development team is working closely with the Ledger team to allow users to manage their VeChain wallets on Ledger via Sync, the desktop wallet and dApp browser.Q3: I am a Mobile Wallet user. Should I be worried?No. VeChainThor mobile wallet users will not be impacted.Q4: I am a Ledger Wallet user. When can I access my funds?You will be able to access your funds via Sync in two weeks starting from Oct 21 2019 when the new Ledger Wallet Interface by VeChain is released. We sincerely apologize for any inconvenience caused.Q5: I have a Economic/X-node linked to my Ledger Wallet Address. Should I be worried?Your Economic/X-nodes are completely safe and intact on your Ledger VeChain wallet address even if the Vault is no longer available.Q6: What will happen to exchanges which are currently linking to VeForge Block Explorer?We have already notified exchanges to redirect transaction inquiries to VeChain Insights to avoid any disruption to users.Q7: Are there alternatives to VeForge Explorer right now?Yes, you can use VeChain Insights, which is another serverless blockchain explorer developed by the VeChain team.Q8: What will happen to the Comet Wallet Chrome Extension?It’s up to the Totient Labs to decide if they are going to continue the development of Comet. The notification we received is only related to VeForge. But you are strongly encouraged to backup the seed words of the address created in Comet wallet so that you can import into other wallets when needed.Q9: Why did VeChain announce this so suddenly? There isn’t even a 48 hour notice.This announcement has been prepared as soon as we received the decision from Totient Labs today that VeForge will discontinue its service on Monday, 21 October 2019 12:00 PM PDT.Q10: Why did Totient Labs decide to stop support for VeForge Explorer and Vault?It’s Totient Labs’ own business decision.Q11: Is Totient Labs still partnered with VeChain as announced in this article — Introducing Totient as a Partner Pioneering New Heights For The VeChainThor Ecosystem?The VeChainThor blockchain is a public blockchain, and development teams like Totient Labs are always welcomed to develop on it.Q12: I am trying to access VeForge Explorer before the official cut-off date mentioned in this article but it seems to be down right now.The official cut-off time and date mentioned in this article was communicated officially to us by Totient Labs. We have no information other than that.Q13: How will dApps and developers be affected? Will this affect whether transaction creators such as Walmart make Txs etc?dApps and developers will not be affected. If your application links to the VeForge explorer, please redirect to VeChain Insights. Enterprise solutions will not be affected either as they are completely built on VeChain’s ToolChain infrastructure.Q14: Will the new explorer be open source? If so will there be bounties for improvements and/or features made by the developer community?The new Explorer and Sync Official Ledger Wallet Interface will be open source so that the developer community can also participate and contribute.Q15: What if I have questions that are unanswered in this article?Feel free to email us via email@example.com.
19. 10. 20
VeChain Calls For A BUIDLer...
San Francisco Blockchain Week 2019 will take place from October 28 to November 3, 2019. It will bring together blockchain startups, enterprise companies, academics, developers, and investors from around the world to define the future of blockchain and cryptocurrencies. VeChain, the public blockchain that derives its value from activities created by members within the ecosystem solving real world economic problems, is invited to attend this year’s San Francisco Blockchain Week and showcase its visions on how blockchain technology enables real business value.Positioning itself as an Enabler, VeChain opens its arms to on-board more builders together in the VeChain Ecosystem, including startups, business and technical developers, professionals and enterprises from small to large. The VeChain Foundation is committed to developing blockchain protocols, development tools, turnkey solutions and making them available to all builders. VeChain also provides various support programs to aid builders, such as foundation grants, business leads, technical support, market expansion, incubation, investment, bounty programs, advisory services, talent sourcing as well as networking connections with crypto or blockchain-friendly legislation environment.VeChain will be co-hosting the BUIDLer Assembly on October. 31 at 11:00 am at Epicenter as a part of the San Francisco Blockchain Week to encourage more builders to join us and create business value for the real economy. Sunny Lu, Founder and CEO at VeChain; Xiaoning Nan, Founder & CEO at OceanEx; John Dempsey, Founding Director at 8Hours Foundation; Zack, CyberX co-founder and COO; Alyssa Tsai, Founder and CEO of PANONY and PANews will share with the audience their experience participating and building within the VeChain Ecosystem and VeChainThor Blockchain.Aside from the BUIDLer Assembly event, we are also hosting the BUIDLer Reunion Night, a networking event that is open to all. All parties interested in the VeChain Ecosystem and passionate about blockchain technology, regardless of their participation in the SFBW, will be welcome to join by simply registering for the event. Click here to register for the BUIDLer Reunion Night on Nov.1Come and join us in the BUIDLer Assembly at Epicenter and our exclusive networking BUIDLer Reunion Night event during the San Francisco Blockchain Week! Tickets for the BUIDLer Reunion Night are limited at a first come, first served basis.About SF Blockchain WeekSan Francisco Blockchain Week is where blockchain startups, enterprise companies, academics, developers, and investors from around the world come together to define the future of blockchain and cryptocurrencies.For more information, please visit https://sfblockchainweek.io/.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, Bright Food, D.I.G, DB Schenker, PICC, etc.For more information about VeChain, please visit www.vechain.com.For news inquiries, please email to firstname.lastname@example.org.VeChain Calls For A BUIDLer Assembly During San Francisco Blockchain Week was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 10. 14
VeChain Is Leading Co-spons...
The need for an industry-driven, technology-agnostic global framework for seafood traceability was first publicly recognized by the World Economic Forum’s Global Agenda Council on Oceans in 2013. It points out that 20% or more of fish catch results from “illegal, unreported or unregulated” fishing, and thus escapes basic fisheries management. The growing market demands also add to enterprises’ interests in improving transparency within seafood supply chains. To meet the increasing requirements, it’s necessary to standardise business practices and harmonise regulations to promote interoperable traceability within the seafood sector.The GDST is set to hold its second and third Seafood Traceability Hackathons in Cologne, Germany from 21–22 October and in Bali from 26–27 October, 2019. Supported by multiple leading organizations and enterprises in the industry, such as GS1 Germany and USAID Oceans and Fisheries Partnership, the hackathons serve as a grand gathering of real businesses and a platform that boosts the development of valuable applications that can be used to solve real problems facing the industry. GDST’s mission is to establish an international business-to-business framework capable of supporting a variety of technologies and solutions to bolster inter-cooperation on seafood traceability practices. The initiative is co-convened by WWF and IFT’s Global Food Traceability Center.VeChain, the world’s leading public blockchain platform, will support this cause and is the sole blockchain sponsor of both hackathons. The GDST has placed Blockchain Integration as one of the four major categories for contestants, which is a testament to the legitimacy and value-added contribution by blockchain in the traceability industry.VeChain will share with the Hackathon contestants its expertise in blockchain-powered traceability solutions that can be applied by a broad spectrum of seafood industry stakeholders from all parts of the supply chain. The winners of the Hackathons will be awarded prizes that include VeThor tokens VTHO valued up to 10,000 EUR cash equivalent to support their efforts in developing innovative blockchain applications. As an added bonus, top participants will have an exclusive chance to be included in the VeChain’s accelerator and bounty programs connecting them with the large network of the VeChain Ecosystem.More than 60 producers, processors, and retailers from across the world will be brought together to have in-depth discussions on seafood traceability. VeChain’s Europe Project Manager and technology expert, Arnaud Bauer, will introduce how to develop effective applications based on the VeChain ToolChain APIs or the VeChainThor Blockchain. With DNV GL’s extensive experience and expertise in blockchain technology adoption, participants will find it easier to build and leverage blockchain-based applications to empower their businesses.Over the past years, VeChain sees itself as an enabler in the blockchain ecosystem. With the release of the VeChain ToolChain, a powerful product that allows enterprises and individuals to adopt blockchain technology effortlessly, the technical hurdles to integrate blockchain technology is no longer an obstacle for businesses and enterprises. Participants in the hackathon, regardless of their proficiency in blockchain technology, will be able to develop applications that leverage blockchain technology smoothly.Apart from efforts to transform the Food & Beverage, LNG, Fast Fashion and Luxury industry, VeChain has been steadily branching out into more sectors, and will involve more users who are devoted to efficient traceability efforts. VeChain hopes to attract more builders with the hackathons to develop real world applications in the VeChain ecosystem and create more valuable transactions.Don’t miss out on the GDST hackathons, come and join the leaders of seafood traceability industry and find out yourselves how VeChainThor Blockchain can be used to facilitate the real economy.Click here to register to participate the Seafood Traceability HackathonAbout GDSTThe Global Dialogue on Seafood Traceability (also referred to as the Dialogue) is an international, business-to-business platform established to advance a unified framework for interoperable seafood traceability practices. The Dialogue brings together a broad spectrum of seafood industry stakeholders from across different parts of the supply chain, as well as relevant civil society experts from diverse regions.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, Haier, Bright Food, D.I.G, DB Schenker, PICC, etc.For more information about VeChain, please visit www.vechain.com.For news inquiries, please email to email@example.com.VeChain Is Leading Co-sponsor of GDST Seafood Trackathons was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 10. 12
VeChain Financial Executive...
Transparency, Fairness, OpennessWe are excited to present the eighth VeChain Foundation Financial Executive Report. This financial report covers the period from May 2019 through to July 2019.During this period, VeChain partnered with San Marino Innovation and DNV GL to adopt the VeChainThor Blockchain in San Marino Republic to strive to become the first carbon neutral country. On July 16, 2019, the VeChainThor blockchain recorded the day with the highest number transaction clauses since the mainnet launch — over 1.1 million transaction clauses with over 35 million VTHOs burned. We are making further progress on solving real-world economic problems and targeting a broader user base with the VeChain blockchain technology.As always, we sincerely welcome the community to hold us to the commitment of transparency, the rigorous monitoring and usage of funds, and the development process of all aspects within the VeChain Foundation.The report structure is as follows:1. VET Supply Overview2. VeChain Foundation Expenditure (use of proceeds)3. Notesi) Enterprise Investor Poolii) Co-Founders, Development Teamiii) The Operation, Technological Research and Developmentiv) Business Developmentv) Compliance & Legalvi) Ecosystem Development1. VET Supply OverviewAt the end of July, the VET circulating supply was 63,030,429,892 which accounts for roughly 72.7% of the total supply, compared with 71% of last quarter end. Within the VET circulating supply, 20,930,516,127 VETs were in the soft-lockups, which makes roughly 24.1% of the total supply. This means around 48.6% of the VET total supply is free to trade on the open market.Note:* The soft-lockup categories are as follows:Authority Masternode collateral — each Authority Masternode keeps at least 25 million VETsX Nodes staking — each X node keeps a minimum amount of VET based on four different tiersEconomic Nodes staking — each economic node keeps a minimum amount of VET based on three different tiersTeam Lockup — According to the whitepaper 5% of the total VET supply is allocated to co-founders and development team, and this pool is released quarterly over a two year period. However, in this reporting period the executive team as well as some of the team members voluntarily locked 356 million VETs, which is 64% of the total amount allocated to the team. As of July 31, 2019, over 2.7 billion VETs have been locked up by the team to show the commitment to VeChain’s long term success** The ecosystem reserve was acquired through the VeChain Foundation Buyback initiative as of the end of July. This reserve will be used to facilitate the long term growth of the VeChain ecosystem.2. VeChain Foundation Expenditure (use of proceeds)We summarized below the USD value of the expenditure in fiat or BTC/ETH for the reporting period. For the spending in BTC or ETH, the USD value was booked based on the rate when the transaction occurred. In many situations our service providers and partners prefer to receive VET as direct payment or investment compared to using fiat or BTC/ETH. Therefore, the total expenditure for operation, technological and business development comprises a combination of direct VET payment and use of proceeds (fiat, BTC/ETH) depending on the associated parties’ preference.Comparing with last period during which the VeChain Summit was held, the total expenditure of this period reduced significantly.3. Notesi) Enterprise Investor PoolDuring the reporting period, around 18 million VETs were purchased from the enterprise investor pool by our strategic institutional partners. As always, the partners invested in this pool are subject to lock-up and looking at holding the VETs for long term purposes. We continued conversations with a number of reputable institutional investors in the US, Europe and Middle East, who showed interested in investing in VET and could potentially bring significant resources to VeChain.ii) Co-Founders, Development TeamIn this period, the Foundation distributed 555 million VET as eighth quarterly rewards to the team. During this reporting period, 3 full-time employees joined us in our development, project management and product teams. Same as previous periods, the executive team will continue locking up 100% of their rewards gained in this period. In addition, some of the team members opted to lock up their allocated tokens to show the commitment to VeChain’s long term success. In total, out of the portion allocated to the team in this quarter, about 356 million VETs, around 64%, were locked up voluntarily after being released from the Foundation reserve.iii) The Operation, Technological Research and DevelopmentDuring this period, VeChainThor Mainnet v1.1.2 upgrade has been successfully activated at block #3337300, and VIP 191 — designated gas payer became available. With this upgrade, significant security testing and bug bounties were conducted on the VeChainThor Mainnet source code.In this period, Peter Zhou, VeChain Chief Scientist teamed up with with Prof. V.S. Subrahmanian and his team at the Department of Computer Science, Dartmouth College, and the Paper “C2P2: A Collective Cryptocurrency Up/Down Price Prediction Engine” was accepted by IEEE Blockchain-2019 Conference.Furthermore, several products were announced to the public, highlighting our achievements and development.We launched the HSM Based Key Escrow Escrow Turnkey Solution to resolve one of the greatest challenges for the mass adoption of blockchain, which is the private key management. This hardware based turnkey solution is available for customization and independent deployment. Once authorized by VeChain, enterprises and developers can build their own key escrow services based on the solution to better serve their customersThe VeChainThor Wallet v1.4.1 and v1.4.2 were released during this period. Besides keeping optimizing user experience, we have added the token value that users can see the market value in real timeWe open-sourced the VeChainThor wallet SDK, which provides a selection of functional interfaces necessary to leverage VeChainThor wallet features. This SDK empowers wallet developers to create their own wallet easily and enables application developers to test their application compatibility in VeChainThor walletWe also revealed the new official VeChain website. The new website comes with a clear layout of the solutions, products and services and the key features of the VeChainThor blockchain and ecosystemiv) Business DevelopmentDuring the reporting period, the VeChain team has managed to build a few renowned partnerships which will lead to more enterprise blockchain applications on the mainnet. In collaboration with Walmart China, China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin Co., Ltd., the Walmart China Blockchain Traceability Platform, built on the VeChainThor Blockchain, was launched at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar.Announced partnerships and collaborations (May, 2019 — July, 2019 )Walmart China (June 25)Jur (July 18)San Marino Innovation (July 22)Latitude 28° （July 24）Highlights from the community and marketing events (May, 2019 — July, 2019)Sunny Lu attended the Seeds&Chips Global Food Innovation Summit, discussed with Conte about blockchain topic, and shared opinion on “the Ecosystem in the New Black, how blockchain is changing the rules of the game” (May 7)VeChain project manager Tang Min “Table of Norway” hosted by Norway in a Box, and introduced the VeChain Toolchain (May 8)Sunny Lu delivered a speech of “The next decade of blockchain, driven by business value and application” at SALT (May 9)Suny Lu, Kevin Feng, and Jerome Grilleres attended VeChain Meetup at Paris (May 15)VeChain and DNV GL attended Viva Tech and Showcased My Story™ and VeChain ToolChain (May 16)Chin Qian, VeChain Chief Business Officer, attended the “BIOFACH CHINA Shanghai International Organic Exhibition and Organic Fresh Food Base Resource Library Platform Conference” and showcased My Story™ and VeChain ToolChain (May 16)VeChain attended LONGHASH CRYPTOCON VOL.2 at Berlin, and introduced VeChain blockchain solutions and use cases (May 17)VeChain Attended the China International Big Data Industry Expo 2019 (May 29)Sunny Lu attended “Hello Future Summit 2019”, a major event in the fashion industry held by TechNode and Explorium and shared successful use cases that VeChain has implemented in the industry (May 30)General Manager of SE Asia & Australasia, Sarah Nabaa attended LongHash DLT Compass, and delivered a speech of “Accelerating the Internet of Value through Enterprise Adoption” (June 6)Sunny Lu attended CogX, an artificial intelligence and innovation technology conference held in London. Sunny shared opinions on the topic of “They Promised Us Flying Cars” (June 11)General Manager of SE Asia & Australasia, Sarah Nabaa introduced VeChain enterprise-level blockchain solutions at Digital Business Innovation Centre, DBIC Singapore. (June 12)General Manager of SE Asia & Australasia, Sarah Nabaa attended the OceanEx Meetup at Vietnam, and introduced VeChain ecosystem, and support for blockchain developers (June 15)Sunny attended the Copenhagen FinTech Week and delivered a speech of “Blockchain Business Bridge — Practical Application of Blockchain in China” (June 18)General Manager of SE Asia & Australasia, Sarah Nabaa attended “Malaysia Blockchain Week” and introduced VeChain enterprise-level blockchain solutions (June 20)VeChain hosted the 1st ToolChain Day at Shanghai (June 23)VeChain attended the WalMart China’s blockchain traceability platform launching ceremony as the technology partner (June 25)VeChain US Country Manager Jason Rockwood attended blockchain seminar hosted by the Dartmouth Institute of Technology, and the Society of ISTS at Dartmouth College (June 27)VeChain successfully held an 8 hour long AMA Marathon on June 30th to celebrate the one year anniversary of VeChainThor mainnet launch (June 30)VeChain Chief Scientist, Peter Zhou attended the innovation lab seminar hosted by the Shanghai University of Science and Technology and delivered a speech of “Frontiers in FinTech” (July 11)VeChain attended the “Global Demo Tour” hosted by TRIBE ACCELERATOR and explorium as technical support (July 11)VeChain Chief Technology Officer,Gu Jianliang attended the “Fifth China (International) IoT Expo 2019” and shared opinion on FRID by delivering a speech of “Scenarios drive applications, link to infinite possibilities” (July 12)A Memorandum of Understanding has been signed between the Republic of San Marino Secretary of State for Industry, Trade, Business, Cooperation and Telecommunications, Republic of San Marino Innovation Institute S.p.A, DNV GL Business Assurance Group AS and VeChain Foundation to strive San Marino the first carbon-neutral county (July 25)VeChain US country manager Jason Rockwood attended The 3rd annual APAC Blockchain Conference, and introduced VeChain ToolChain by delivering a speech of “Using public blockchain for public innovation” (July 23)Kevin Feng attended the World Blockchain Summit in Singapore and delivered a speech of how the VeChain ecosystem is creating value to the business and solving real-world problems (July 25)Head of Carbon Ecosystem project, Edison Zhang attended the “Green Packaging Low Carbon Ecology Industry Conference” jointly organized by VeChain Technology and Identify Truth, and introduced the Digital Carbon Ecosystem jointly developed by VeChain and DNV GL (July 26)VeChain attended the 12th International Internet of Things Exhibition Shenzhen Station, and showcased the clothing raw material traceability solution and the old clothes recycling solution based on VeChain ToolChain (July 30)VeChain Chief Technology Officer, Gu Jianliang attended Amazon Web Services (AWS) Global Beijing Summit, and showcased VeChain ToolChain and Various VeChainThor Blockchain-Powered Use Cases (July 31)v) Compliance & LegalVeChain engaged professional service providers in cybersecurity and legal to ensure products and solutions we offer are secure and compliant with regulations, which we believe is the prerequisite of mass adoption by global enterprises.vi) Ecosystem DevelopmentWith the aim of “Creating Valuable Transactions”, the VeChain Foundation, as a key enabler of the ecosystem, launched VeChain Accelerator Program, VTHO subsidy program, VeChainThor Supercharger program as well as other supports that are available to ecosystem builders. VeChain’s goal is to enable ecosystem builders including enterprises, startups and community members to create business value by solving real world economic problems with the VeChainThor blockchain. In addition, we were excited to have 8Hours Foundation, Jur and Hacken join the VeChain ecosystem.VeChain Financial Executive Report Vol. 8 was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 09. 27
VeChain, Together With Its ...
VeChain, Together With Its Partners — DNV GL and Deloitte, Attended the Shanghai International Blockchain Week 2019 As Keynote Speakers to Share Their Vision On How Blockchain Enables Real Business ValueShanghai International Blockchain Week 2019 is a major, blockchain industry gathering themed as Blockchain New Economy, New Decade, New Beginning. The event this year featured Hackathon, Demo Day and The Fifth Global Blockchain Summit. Over 2000 participants, 250 experts, and 50 global projects were brought together to share their experience on the development of blockchain technology, real-world applications, regulations & compliance and their vision towards the next decade of the industry.VeChain, as an enterprise-friendly public blockchain platform, has abundant real use cases in various industries. Sunny Lu, Co-founder and CEO of VeChain, as well as partners such as Renato Grottola, Global M&A and Digital Transformation Director in DNV GL-Business Assurance and Member of VeChain Foundation Steering Committee; Antonio Senatore, Global CTO at Deloitte Blockchain and Member of VeChain Foundation Advisory Board were invited to the summit as keynote speakers. They joined other experts to explore ways of enabling the massive blockchain applications based on user demand in the upcoming decade.For the VeChain ecosystem to develop, it is important to create valuable applications that meet user demand and to enable mass public adoption by cooperating with partners within the ecosystem. “Only with professional teams and enterprise level applications can we promote the development of blockchain technology and in turn, boost its mass adoption. It’s more about business consensus. There should be a reasonable incentive mechanism in place to bring various enterprises together. It could be more difficult to reach business consensus than a technical one, to achieve this goal, enterprises need to be more open-minded and make their platforms open-sourced to attract more players and participants. In addition, the industry also calls for a governance consensus, governments and regulators need to play their roles. A compliant, fair and cooperative environment is essential to enabling blockchain to go mainstream.” Said Sunny Lu, Co-founder and CEO at VeChain.Sunny Lu, Co-founder and CEO of VeChainDNV GL, strategic partner of VeChain and the world-leading certification body, has been making continuous efforts to accelerate digital transformation. They’re striving to empower the real economy using blockchain technology. Renato Grottola, Global M&A and Digital Transformation Director in DNV GL-Business Assurance and Member of VeChain Steering Committee, highlighted the usage of the VeChainThor Blockchain and remarked in his keynote speech — Digital Assurance by DNV GL: A concrete example of how blockchain is reshaping the Industry of Trust, “The Proof of Concept Era has come to an end. What we take into consideration before implementing anything blockchain is whether it stands to have a chance of mass adoption. We need to make sure it brings real impact. That is why choosing the right blockchain partners is key. The value of blockchain lies not in the technology itself but in the intersection between technology and business processes. We must keep business demands in mind when adopting blockchain. The real value and innovation potential offered by Blockchain Technology to society is the transitioning from linear to circular economies.”Renato Grottola, Global M&A and Digital Transformation Director in DNV GL-Business Assurance and Member of VeChain Steering CommitteeIn his speech — A New Technology For A New Age, Antonio Senatore, Global CTO at Deloitte Blockchain and Member of VeChain Foundation Advisory Board, explained why Deloitte chose to work with the VeChainThor Blockchain to provide valuable services for their clients. “The future is platforms. The early winners will be those platforms which create benefits and deliver value within the existing regulatory paradigm. Blockchain is more than decentralized governance, it’s more of a comprehensive ecosystem. Only when we take it as an ecosystem can we find out all possible value use cases. The reason why we chose to migrate to public blockchain, is because everyone on the public blockchain are verifiable, which means it’s secure for our clients. On top of that, public blockchain helps to connect products, enterprises and people in a digital way. “Antonio Senatore, Global CTO at Deloitte Blockchain and Member of VeChain Foundation Advisory BoardAs the underlying architecture of blockchain is getting full-fledged, the blockchain industry is about to enter the commercial value verification phase. As VeChain continues to iterate and improve the blockchain infrastructure, the VeChainThor public blockchain is now positioner as an “Enabler”, calling for more “Builders” to bring the business value of blockchain to test. The builders of VeChain ecosystem include both technology developers, and business developers, such as companies of varied sizes and start-ups. VeChain will provide custom assistance and support, including networking opportunities with its ecosystem partners for all builders who intends to use blockchain or seeks opportunities to integrate the technology with their own business.
19. 09. 22
Sunny Lu: Reaching Business...
This article is reproduced and translated from PANews according to Sunny’s live speech at the Shanghai International Blockchain Week.On September 17, 2019, the Shanghai International Blockchain Week 2019 kicked off. Hosted by Wanxiang Blockchain Labs, the event has the theme of “Blockchain New Economy: New Decade, New Beginning”, and focuses on the industry’s development in the past ten years and its prospects in the future.“How to better play the role as an Enabler of Blockchain Technology?”This was the subject of the speech held by Sunny Lu, co founder and CEO of Vechain, on September 17th during the Summit.Sunny Lu believes only with professional teams and enterprise level applications can we promote the development of blockchain technology and in turn, boost its mass adoption. It’s more about business consensus, taking into account the interests and concerns of business stakeholders. There should be a reasonable incentive mechanism in place to bring various enterprises together. It could be more difficult to reach business consensus than a technical one, and to achieve this goal, enterprises need to be more open-minded and make their platforms open-sourced to attract more players and participants. In addition, the industry also calls for a governance consensus, governments and regulators need to play their roles. A compliant, fair and cooperative environment is essential to enabling blockchain to go mainstream.Highlights from Sunny’s Speech:It might be of higher priority to explore the business value of blockchain rather than solving technical issues. After all, technology is supposed to serve the real economy and create business value before it continues to develop.Blockchain is an “invisible technology”, to some extent, it can be compared with the underlying technology architecture of the Internet.Only with professional teams and enterprise level applications can we promote the development of blockchain technology and in turn, boost its mass adoption.The The VeChainThor Blockchain comes with various innovative technical features, such as fee delegation, multi-party payment protocol, multi-task transaction, and more.With VeChain ToolChain, users are no longer required to pay attention to the underlying blockchain technology. All that they need to do is register their businesses and products on the VeChainThor Blockchain. In addition, VeChain has been constantly standardizing VeChain ToolChain and adding more modules to it.With this in mind, we are positioning ourselves as an “enabler” between blockchain and real business use cases. We are looking at this matter from the perspective of the product manager — we put ourselves in their shoes and think about what tools and services we should provide as a public blockchain platform to meet the demands of each individual builder.We also have a one-stop centre for all our technical documents at VeChainWorld. In addition to that, we host the annual VeChain Summit, which is a global conference that provides startups with an opportunity to network with established enterprises and see how they can work together to build valuable applications on the VeChainThor blockchain.VeChain is working with San Marino on three issues:1. Integrate IoT and blockchain technology into the development of a carbon-neutral ecosystem2. Build a blockchain-based ecosystem,3. Introduce San Marino Innovation Token (SMIT) into the ecosystem.It’s more about business consensus to promote the mass adoption of blockchain. Business consensus can be more difficult to reach than technical consensus. I hope that the companies in the blockchain industry and traditional industries can be more open-minded in this regard. It’s of vital importance. BYD, a partner of VeChain, and Karma, a company that we had talks in the morning panel, had made their in-vehicle system and platform open-sourced before adopting any blockchain-based applications. Only open platforms can attract more players and participants onboard.With technical and business consensus in place, we also need to have a governance consensus to create a more equal and fair environment. The governments and regulators need to play their roles as well. A compliant, fair and cooperative environment is essential to enabling blockchain to go mainstream.The following is the full text of Mr. Lu’s speech.Sunny Lu, Co-founder and CEO of VeChainGood afternoon!I am honored to be here at the Summit organized by Wanxiang Blockchain Labs. Truth be told, I’ve participated in each and every summit since its inception in 2015. For China and even the whole world, 2015 was a crucial year for the blockchain industry because two interesting things happened:The first was that in October, 2015, The Economist published a very interesting article, “The promise of the blockchain — The trust machine,” which enabled the blockchain technology to enter the spectrum of the mainstream’s awareness. If you look at the Google Trends index, you will find that the index of “blockchain” has soared since the article was published in October 2015.The second was that on November 2, 2015, Wanxiang organized the first Global Blockchain Summit in China, which marked the first event to systematically introduce advanced, foreign technological concepts and leading blockchain projects to China, which facilitated the development of blockchain technology in China. The search engine index of blockchain on Baidu saw a huge increase after the first summit as well. That’s when VeChain decided to jump on the bandwagon of blockchain. To date, VeChain has been growing for four years. Now I would like to take this opportunity to share with you what we have done in the past four years and our thoughts on where the blockchain industry will be headed in the future.First and foremost, we have been trying to explore how to leverage blockchain technology for business applications to empower the real economy. We believe that exploring such scenarios are more relevant than focusing on solving technical aspects and issues of the blockchain technology itself. After all, technology would ultimately serve the real economy and business applications, in which business values would guide the necessary technological development.Based on our experience in the past few years dealing with different use case scenarios, we have found that blockchain is an “invisible technology”. Similar to how we use the Internet and email every day, few would understand what TCP/IP is. To a certain extent, we believe the same is true with blockchain technology because it is more of an underlying technology architecture. Blockchain technology alone can’t be used to build solutions in a silo. It often requires a combination of technologies, including traditional Internet access, the latest 5G, IoT, and AI, to make it possible for commercial applications. Blockchain is used as the underlying technology architecture to collect data at different key nodes and ensure data security and reliability, thus helping enterprises and commercial applications generate new values.In the history of blockchain, the year 2015 can be seen as a “watershed”. Before 2015, everyone was talking about technology development and infrastructure construction and applications, including exchanges, wallets, browsers, and main chains. From 2018 to the present, we can see more and more participants are jumping in, and everyone is calling for blockchain applications with commercial values. In other words, we need to innovate the blockchain technology to make a real difference in the world.What did the VeChain do in the process? From the very beginning, our goal has been to promote the mass adoption of the technology. Even now, the number of Bitcoin or Ethereum users pales in comparison with that of traditional Internet giants, such as WeChat, Facebook, and Amazon. We know that the blockchain technology will change everyone’s life, like what Internet once did, but how? How do we accelerate the process? It’s important to have a professional team and enterprise-level applications to facilitate the development of the technology.Since its inception in 2015, VeChain has developed a lot of enterprise-level applications, and even researched supporting technologies by cooperating with research institutions.Before launching our Mainnet, we consulted over thirty companies on a very important question: what would you choose to use blockchain technology? What would make you choose to use a public blockchain? Based on their feedback, we made some adjustments in the technical architecture of VeChain, such as the governance structure and consensus standards. Interestingly, two years later, we find that Facebook’s Libra is using a similar governance structure — Great minds think alike.VeChain has also made many efforts in technical innovation. For example, in terms of fee delegation, we have developed “MPP”, a multi-party payment protocol. Traditionally, on a public blockchain, you must be in possession of a cryptocurrency asset to be able to transact. But on the VeChainThor Blockchain, “Sponsors” can be specified in the protocol, which would help third party corporate and end users to complete smart contracts and digital currency transactions through enterprise-level applications.Another user-friendly feature of VeChainThor Blockchain is MTT (Multi-task Transaction). Each VeChainThor transaction is composed of a number of clauses, which each represents a single task. Thus allowing a single transaction to carry out multiple tasks sent to various parties. VeChainThor Blockchain also enables settings of time, expiration, and dependency. Thanks to the feedback from different companies, we were able to add tech features to substantially reduce the barriers for the enterprises to build decentralized applications.When it comes to the mass adoption of blockchain technology, we should place equal importance to reducing the tech barrier and improving the accessibility of business scenarios. Just like what Alibaba and Amazon have done before. It’s a great achievement for them to make it so easy to run an online store. With the open platform they provided, people can start their business online easily without thinking about the complicated IT technologies and Internet technologies.In April this year, we launched the VeChain ToolChain. With which, users are no longer required to pay attention to the technical aspects of the underlying blockchain technology. All that they need to do is to use our platform to seamlessly register their businesses and products on the VeChainThor Blockchain. In addition, we are constantly standardizing VeChain ToolChain and adding more modules to it, helping different companies with application development and make it extremely simple for various enterprises to blockchainize their businesses.We’re also making unremitting efforts in optimizing the technical structure, including the connectivity of the underlying IoT, the core layer of the blockchain itself, the application layer, etc.. VeChain take it as its major responsibility to provide a variety of applications and services, aiming to enable various builders and developers to deliver decentralized applications more quickly, we also hope that the tools and services we provide will continuously onboard even more enterprises and startups to develop on VeChainThor Blockchain.With this in mind, we are positioning ourselves as an “Enabler”. We are looking at this matter from the perspective of a product manager. As an enabler, we hope to attract more developers. Not only technical developers, but also business developers. We call them “Builders”. The builders can be large enterprises, small businesses, or even community members. The demand of each builder might differ, to better help them build, we would put ourselves in their shoes, and think about what tools and services we should provide as a public blockchain platform.For example, we’re providing comprehensive support especially to startup companies. VeChain has partnered with a number of enterprises like PwC, and our relationship with PwC enables us able to provide more business opportunities for startups to develop their own applications.We also have a one-stop centre for all our technical documents at VeChainWorld. In addition to that, we host the annual VeChain Summit, a global conference. This year, the Summit was held in San Francisco. We have invited many companies to talk about their experiences using the VeChainThor Blockchain. The summit also provides participants and startups with an opportunity to network with established enterprises and see how they can work together to build valuable applications on the blockchain.It’s also critical for us to support the development of compliance in the industry and create a model for ecosystem development. An interesting case being San Marino, a small republic surrounded by Italy. We’re helping San Marino with 3 issues:Firstly, create a zero-carbon emission ecosystem. This ecosystem uses IoT and blockchain technology to keep track of different user’s behavior, and adopts a positive incentive mechanism. By carrying out carbon reduction practices, each citizen in San Marino will be given a certain amount of tokens accordingly, and each of them will have a digital wallet to hold the tokens. San Marino has set it a national goal to become the world’s first carbon-neutral country.Secondly, establish a blockchain-based ecosystem. The blockchain-based ecosystem is mainly targeted at blockchain startups. When they need to do compliant fundraising, they will receive professional guidance.Thirdly, introduce San Marino Innovation Token (SMIT) into the ecosystem.If interested, or you want to join the startups in this ecosystem, you can take a tour in San Marino and explore more yourselves.If I may, I would also like to boldly share my thoughts on the future development of blockchain industry and blockchain technology. We have been talking about consensus, because it is a very important aspect in the blockchain industry. Over the past years, the direction towards consensus has shifted from the consensus of technology to that of business. In the past, the most widely discussed topics are the type of programming languages, technology stacks, or platforms that we should use to develop blockchain applications. In this aspect, technical developers are the main force and contributors.Nowadays, if you want to promote the mass adoption of the technology, business consensus has been of increasing importance. We need to find out a reasonable incentive mechanism so that different parties, enterprises and stakeholders can work together towards the common goal of creating valuable transactions and make proper benefits for themselves, all on a common platform.As of now, such business consensus can be much more difficult to achieve than technical consensus. I hope that the companies in the blockchain industry and traditional industries, especially in this audience, can be more open-minded in this regard. It’s of vital importance. BYD, a partner of VeChain, and Karma, a company that we had talks with during the panel this morning, had made their in-vehicle system and platform open-sourced before adopting any blockchain-based applications. Only open platforms can attract more players and participants onboard.It’s hard to reach a business consensus, and yet we must do that. We need to bring all of us on the same platform, around the business consensus and work together for a common goal.With technical and business consensus in place, we would also need to have a governance consensus to create a more equal and fair environment to e sure that everyone’s hard work pays off. The governments and regulators need to play their roles as well. A compliant, fair and cooperative environment is essential to enabling blockchain to go mainstream.With this, I conclude my speech. Thank you all for your attention!
19. 09. 19
Digital Carbon Ecosystem Ex...
Digital Carbon Ecosystem Expands to More Entities and Individuals in China with the Launch of WeChat Mini Program — QingTanHui Life (Low Carbon Link)September 15, 2019, Shanghai, China — Since the 1960s, environmental conservation has been widely discussed by the global society. Various domestic and international organisations has raised numerous concerns and society has seen a resurgence of interest regarding global environmental problems, including global warming, carbon emissions, pollution, and more. Yet with renewed awareness and interest towards environmental issues, the prevalence of methods for scientifically measuring individual participation and results lag far behind such awareness, which consequently hinders efforts by key stakeholders and policy makers to incentivise the public to conserve and protect the environment.Hence, in October, 2018, VeChain joined hands with DNV GL, a global provider of assurance services and one of the world’s leading certification bodies, and proposed the concept of a Digital Carbon Ecosystem, which is the first blockchain-based program using economic incentives to encourage individual environmental protection in a scientific way. Since then, various global enterprises had heeded the call and joined this movement such as BYD, the largest Electric Vehicle Manufacturer in the world, Haier, the largest appliance manufacturer in the world, Norway in a Box, D.I.G. and Renji Hospital, have made continuous efforts to further their vision.With the initial steps to form an extensive ecosystem being proposed and built, more and more partners have expressed interest in joining the ecosystem. However, this just marks the beginning towards the ultimate goal of bringing blockchain technology into ordinary people’s everyday life and change this world for the better. To facilitate and accelerate this purpose, VeChain is determined to build the Digital Carbon Ecosystem into a network connecting multiple VeChainThor Blockchain-powered use cases, industries, enterprises and products. In this network, carbon credits serve as a medium that integrates multiple stakeholders. In order to achieve mass adoption, VeChain will also work with legislators from environment conscious countries to facilitate building carbon reduction schemes and the adoption of carbon credits from enterprises and national governments.On September 1, 2019, the WeChat Mini Program — QingTanHui Life was officially launched, making the digital carbon ecosystem ready to reach out to over one billion WeChat users in China.Use WeChat to scan the code above to access the QingTanHui Life Mini ProgramThe mini program offers BYD NEV (New Energy Vehicle) owners with a handy application to cash in on their environmental protection practices. BYD NEV owners were once only allowed to view their driving performance via vehicle-based applications before the introduction of QingTanHui Life.With the QingTanHui Life Mini Program, by just scanning a QR code, the owners of the six models under the BYD Qin, Tang, and Song series are able to synchronize their vehicle’s carbon reduction equivalent data on their mobile phones and receive carbon credits accordingly.Carbon Credits in the Digital Carbon Ecosystem is a crypto asset redeemable for goods and services from organizations supporting the carbon ecosystem, and the marketplace connecting such organizations will go live at a later time. All the data with regards to carbon reduction are stored on the VeChainThor Blockchain. DNV GL, as an independent trusted third party, certifies the whole process design and checkpoints, as well as data collected by vehicle computer and stored on VeChainThor Blockchain.The NEV market witnessed an explosive growth over the past years, and the momentum is set to continue. According to JP Morgan’s report, by 2025, electric vehicles (EVs) and hybrid electric vehicles (HEVs) will account for an estimated 30% of all vehicle sales. In 2018, China sold 1.256 million NEVs, up by 62% on the previous year. On top of that, China is weighing a target for 60% of all automobiles sold in the country to run on electric motors by 2035. Transnational giants like Tesla is also investing in the market, with its first Gigafactory in Shanghai scheduled to start production in November, adding another 35 to 40 thousand Tesla Model 3 vehicles to the market.The use case with BYD can be easily replicated to many other NEV brands, with the potential in getting millions of end-users involved in protecting our planet earth. In addition to NEVs, the Digital Carbon Ecosystem will bring on more environmental protection companies. A few planned use cases in the immediate near future involve clothes recycling and smart home appliances.In addition to Carbon Credits, QingTanHui Life also introduced Green Energy, a non-blockchain version of Carbon Credits, to lower the onboarding barrier and attract as many enterprises and individuals as possible at an early stage, users are allowed to earn Green Energy by participating in a variety of carbon reduction activities, such as walking and recycling. Green Energy can also be used in exchange for goods and services in the QingTanHui Life platform. This is a gamified way to on board users and eco-friendly organizations onto the platform, and in turn, boost the awareness of Digital Carbon Ecosystem. VeChain will continue to cooperate with various partners and explore new application scenarios to bolster the usage of Carbon Credits.To kick start this process, QingTanHui Life will be used to host environmental conservation events. Environmental protection groups can use the platform to find sponsors and directly reach out to environmentally conscious individuals, which will increase adoption leading to a larger user base. Recently, the “Used School Uniform Donation” program was held on QingTanHui Life. The event was initiated by Zhitong990, a broadcasting program in Shanghai, Shanghai Civilization Office, part of the Publicity Department of CPC Shanghai Municipal Committee; Shanghai Municipal Postal Administration, the Shanghai branch of People’s Republic of China State Post Bureau, a government agency, and QingTanHui Life.The launch of QingTanHui Life marks the first step towards the mass adoption of Digital Carbon Ecosystem and is truly the beginning of a great journey. VeChain and our partners will continue to relentlessly expand the ecosystem, for a better and greener future.
19. 09. 17
Kevin Feng, Chief Operating...
Kevin Feng, Chief Operating Officer at VeChain, Attended the 2019 MiiXCon Global Blockchain App Eco-Developer SummitOn August 30, 2019, the 2019 MiiXCon Global Blockchain App Eco-Developer Summit was held in Shanghai. The Summit, which featured topics such as blockchain security, cross-chain technology, and staking, was hosted by the local government of Nanxiang, and Shanghai Lantian Economic City, a government-backed economic development zone. The event brought together over 1000 developers, 100 investors, 200 scholars, and 100 development teams to have in-depth discussions on blockchain adoption and innovation. More than 100 exhibitors showcased their products and solutions on the occasion.The opening ceremony of MiiXCon Global Blockchain App Eco-Developer SummitJae Kwon, Founder of Cosmos; Cai Dong, Chief Data Intelligence Officer at McDonalds China; Zhang Long, Senior Blockchain Architect at WeBank were among the guests invited to the Summit. The event was covered by more than 100 mainstream media outlets from across China, including Xinhuanet.com, the official state-run news agency in China, as well as People.cn, the online publication of the People’s Daily, with a readership of up to 258 million readers per day across 210 countries.Kevin Feng, COO at VeChain delivering speechKevin Feng, Chief Operating Officer at VeChain, was invited to attend the summit as a keynote speaker. In his speech ‘VeChain’s Approach To The Development of Public Blockchain Ecosystem’, Kevin shared VeChain’s vision toward the mass adoption of blockchain and introduced various resources provided for VeChain Ecosystem builders.The early months of 2019 witnessed a growing number of large enterprises entering the blockchain industry, such as Facebook and JP Morgan Chase, yet dApps with real business value are still rare in the market. We believe the future of blockchain technology lies in massive commercial adoption. As a world-leading enterprise-level public blockchain, VeChain is and will still be dedicated to bolstering the massive adoption of blockchain technology and creating valuable transactions.— — Kevin Feng, COO at VeChainAs one of the pioneers that first introduced blockchain technology into industries outside of fin-tech, VeChain has developed a variety of VeChainThor Blockchain-based solutions and applications. Solutions such as the Digital Carbon Ecosystem and VeChain ToolChain fully utilizes the VeChainThor public blockchain. These solutions have also been integrated into the existing operating systems of various enterprises from different industries and added real economic value to their business.Achieving the ultimate goal of the adoption of blockchain technology requires the participation of the public and the masses. For this reason, VeChain actively welcomes more builders to come on board to contribute to the development, providing incentives and support for developers, scholars, entrepreneurs and the community to further the adoption of blockchain technology in the world.Over the past few years, VeChain has accumulated and developed extensive experience and resources, including but not limited to an expanding business network, technical documents, SDK, and various turnkey solutions. VeChain will gradually share all these resources and tools with all the VeChain Ecosystem builders and community to boost the development of dApps with real value on the VeChainThor Blockchain.Moving forward, VeChain will continue to actively work with all stakeholders to change the world for the better with blockchain technology.
19. 08. 30
Sarah Nabaa, General Manage...
Sarah Nabaa, General Manager of VeChain SE Asia & Australasia Attends Seeds & Chips in Melbourne From Sep.3 to Sep.5From September 3 to September 5, 2019, the Seeds & Chips Global Food Innovation Summit will be held in Melbourne, Australia. VeChain has been invited and has confirmed its attendance for the Summit.In conjunction with Global Table, the largest agro-food business event in the Asia-Pacific, The Global Food Innovation Summit will hold over 50 conference sessions this year, featuring more than 200 thought-leaders from Australia and the rest of the world. Furthermore, over 150 startups and innovators will raise current world issues and discuss their solutions. Additionally, more than 150 Australian food producers and exporters will exhibit their products in the Global Table Trade Zone.General Manager of VeChain SE Asia & Australasia, Sarah Nabaa, will attend the Summit as a guest speaker, sharing with the audience the potential and practical applications of blockchain in the food industry. Ms. Nabaa will join the discussion panel, “Tracing our food system from farm to fork”, together with David Inderias, Co-Founder & CEO at Fresh Supply Co, Rachel Gabato, COO at Ripe.IO, and Alan Lai, Co-Founder & Executive Director at ProfilePrint to discuss how blockchain technology has been leveraged to create a more transparent and trustworthy food supply chain.Established in 2015, The Global Food Innovation Summit has staged numerous international speakers with significant influence who have shared their insights into issues regarding sustainability and food safety with the world. Renowned speakers include Barack H. Obama, former President of the United States, Howard Schultz, Executive Chairman at Starbucks, Gilbert F. Houngbo, President of the International Fund for Agricultural Development (IFAD), and Romano Prodi, Former European Commission’s President & Former Italian Prime Minister.This year, the Summit is honored to have John F. Kerry, 68th Secretary of State of the USA, Dr. Howard-Yana Shapiro, Chief Agricultural Officer at Mars Incorporated, and Shama Sukul Lee, (NZ) Founder and CEO of Surfed, sharing with the audience the latest advancements and trends taking place in their respective fields.VeChain’s attendance at the Global Food Innovation Summit in Australia marks the second time that VeChain has been invited by Seeds and Chips to share with the audience the positive effects of applying blockchain technology in the food industry.In May 2019, Sunny Lu, CEO at VeChain, was invited to attend the Seeds & Chips Global Food Innovation Summit in Milan. A pioneer who promotes blockchain integration into the food industry for enhanced traceability and transparency, Mr. Lu had an in-depth discussion with the other panelists, including Luca Crisciotti, CEO at DNV GL Business Assurance, Renato Grottola, Global Director -M&A and Digital Transformation at DNV GL Business Assurance, and Sergio Mottola, President at San Marino Innovation.The panel focused on the outlook of blockchain technology and how it is continuously revolutionising the industry. Sunny also met Giuseppe Conte, former Prime Minister of Italy, and exchanged ideas on the future of blockchain-based ecosystems.
19. 08. 28
VeChain Attends The Shangha...
From September 14–18, 2019, Shanghai International Blockchain Week 2019, the largest and most influential blockchain gathering in China, will be held by the Wanxiang Blockchain Labs, a top blockchain research body in China. The event this year will bring together over 2000 participants and 250 experts of 50 global projects to share their insights and experience on the development of blockchain technology, its real-world applications, regulations & compliance.Invited guests such as Dr. Xiao Feng, Vice Chairman & Executive Director at Wanxiang Holdings; Founder of Wanxiang Blockchain Labs, Vitalik Buterin, Founder of Ethereum and Chief Scientist at Wanxiang Blockchain; Vice President and Chief Information Officer at Webank (China’s first digital bank initiated by Tencent), Henry Ma; and the General Manager at China Unicom IoT Company, Chen XiaoTian, will be in attendance.As the world’s leading enterprise-level public blockchain, VeChain possesses a proven track record of promoting the adoption of blockchain technology. For instance, VeChain developed My Story™ with DNV GL, a blockchain-powered, business assurance solution already implemented by three wineries in Italy: Ricci Curbastro, Ruffino and Torrevento.Another example is the San Marino Low Carbon Ecosystem. This recently announced initiative is the first national-level blockchain-based program designed to drive environmentally friendly practices. The Ecosystem is entirely powered by the San Marino Innovation Token, a utility token issued on the VeChainThor Blockchain.The Summit invited Sunny Lu, Founder of VeChain Foundation, to share with the audience his extensive experience in building blockchain-based solutions and real-world applications. Renato Grottola, Antonio Senatore, and Vincenzo Di Nicola, advisors and partners to the VeChain ecosystem are all invited as leaders of the blockchain industry to speak.Renato Grottola, SVP and Global Director of M&A Digital Transformation at DNV GL Business AssuranceOver the years, Renato has served various positions in the world-leading business assurance group and gained rich experience in driving digital transformation and business development. Under his leadership, DNV GL forged a strategic partnership with VeChain and helped build a host of VeChainThor Blockchain-based solutions and applications.Antonio Senatore, Global CTO at Deloitte BlockchainAntonio Senatore serves as the Global CTO at Deloitte Blockchain and is a member of the VeChain Foundation Advisory Board. Having been in the IT industry for over 15 years, Antonio is a leader in technology research, road mapping, lab technical architecture & infrastructure, as well as the Lab technical operating model.Under Antonio’s leadership, Deloitte has been developing on the VeChainThor Blockchain and migrated the solutions it developed for DNV GL from Ethereum to the VeChainThor Blockchain in April 2019.Vincenzo Di Nicola, Co-founder & CEO of ConioVincenzo Di Nicola is a co-founder of Conio, an Italian startup that provides enterprise solutions for banks to manage cryptocurrencies and safe custody of digital assets. He also serves as a Member of the Scientific Committee of the Republic of San Marino and assists them with their national blockchain initiatives, such as the San Marino Low Carbon Ecosystem and San Marino Innovation Token.In December 2018, the Italian Government selected Vincenzo as a member of an expert panel charged with drafting the Italian national strategy on Blockchain. Vincenzo is also a member of the scientific committee of the Republic of San Marino, assisting them with their national Blockchain initiatives.VeChain’s mission is to promote the mass adoption of blockchain technology and changing people’s lives for the better. Hence, it is pleased and excited to demonstrate VeChainThor powered applications and solutions at the Shanghai International Blockchain Week 2019.VeChain looks forward to meeting and connecting with the attending business leaders and innovators, both inside and outside of the blockchain industry at the Shanghai International Blockchain Week. It is an excellent opportunity for VeChain team to demonstrate to the attendees how VeChainThor Blockchain can be leveraged to empower their industries and make this world a better place.
19. 08. 23
VeChain Attends the Governm...
VeChain Attends the Government-Backed 1st Important Product Tracing Expo (Shanghai) And Showcases Multiple VeChain ToolChain-Based SolutionsProduct safety and transparency are some of the major concerns for Chinese consumers in recent years. Hence, more and more Chinese commerces are making efforts in revamping their supply-chain strategies to satisfy the evolving consumption trend in China. Supported by the Department of Market Supervision of the Ministry of Commerce of the People’s Republic of China and Shanghai Municipal Commission of Commerce, The 1st Important Product Tracing Expo (Shanghai) (IPTE), kicked off today at the National Exhibition and Convention Center (Shanghai) and will be concluded on August 23, 2019.The opening ceremony of the 1st Important Product Tracing ExpoCo-hosted by Shanghai Commerce Association, Shanghai Food Association, and Shanghai Internet of Things Industry Association, over 70 leading enterprises showcased their traceability solutions at the IPTE. Industry leaders like Shanghai Vegetable Group, Hema Fresh Market (owned by Alibaba Group), and Shanghai Pharmaceutical Co., Ltd. brilliantly demonstrated their new retail concept along with cutting-edge traceability technology at the expo.From left to right: Chin Qian, Chief Business Officer at VeChain, Cici Li, General Manager at Waigaoqiao International Wine Exhibition & Trading Center, George Kang, Senior Vice President at DNV GL Group, Tara Zhang, Project Head of Norway in a Box ChinaAs the industry and market leader in integrating blockchain technology into real-world business scenarios for enhanced traceability, VeChain was invited to attend the IPTE, alongside partners such as DNV GL, D.I.G., and Norway in a Box. At the exhibition, VeChain presented multiple VeChain ToolChain-based solutions, products, as well as My Story™, a digital assurance solution jointly developed by VeChain and DNV GL.VeChain ToolChain is a revolutionary one-stop BaaS platform built on top of the VeChainThor Blockchain. It comes in three versions, Standard, Developer, and Partner Version, which includes a complete set of hardware, software, and protocols necessary to onboard any business onto the VeChainThor Blockchain.With VeChain ToolChain, SMEs, and individuals with no technical background are now able to integrate cutting-edge blockchain technology into their business instantly. On top of that, VeChain ToolChain supports independent deployment and multi-dimensional customization to ensure a personalized fit for various business scenarios and use cases. Channel Partners have the flexibility and freedom to develop their customized blockchain-powered solutions using the ToolChain Partner Version to solve business problems better and increase efficiency.The application of the VeChain ToolChain has created real value for businesses and enterprises. D.I.G. showcased The Wine Traceability Platform (WTP) co-developed by VeChain and D.I.G. at the exhibition as an example. According to D.I.G., the products on WTP have achieved substantial improvement in supply-chain management. A recorded 10% increase in sales for the first batch of WTP-powered products was recognized.Wine empowered by My Story™My Story™, which has been implemented by three Italian wineries, Ricci Curbastro, Ruffino and Torrevento, is another example of VeChain ToolChain empowering the real economy. It combined blockchain, IoT, and third-party verification and helped the enterprises with data collection, product ID issuance, product story sharing, data verification, and data storage. With My Story™, enterprises are now able to manage their supply chains in a more sustainable and transparent way.In addition to that, My Story™ also helps brands build and strengthen consumer trust and loyalty through individual products. Companies can share product features and information using My Story™, including but not limited to: quality, social, environmental, and ethical integrity features. By scanning the product using NFC tags and QR codes, consumers can instantly access the brand story and information of the product, which can drastically boost consumer confidence.Officials from Shanghai Municipal Commission of Commerce Visiting Our BoothThe solutions and products displayed by VeChain and its partners at the exhibition were well-received by the attendees. Over the years, VeChain pioneered in developing real-world blockchain use cases and adding value to the real economy. Going ahead, VeChain will stay dedicated to building a blockchain-based ecosystem for all stakeholders and accelerating the mass adoption of blockchain technology.
19. 08. 21
The Wine Traceability Platf...
The Wine Traceability Platform Co-Developed by VeChain and D.I.G, Kickstarted its Second Phase with the Introduction of Penfolds Bin 407 For Enhanced Transparency and ReliabilityForty years of explosive economic growth has made China the second-largest economy in the world and helped create millions of middle-class households. With the improvement of living standards and the change of lifestyle, drinking wine has become increasingly popular among the better-off Chinese citizens. According to the Research Report on Wine Import in China, 2019–2023. China imported $3.91 billion worth of wine in 2018, up by 6.50 percent year on year. Also, analysis by VINEXPO indicates that China will become the world’s second-largest wine consumer by 2023, with a market value estimated to be worth $23 billion.The booming market has caught the eyes of savvy wine producers and cunning copycats and counterfeiters. In November 2017, the Shanghai Police seized 14,000 bottles of counterfeit Penfolds, worth over 1 million USD. Five months later, police officers in Zhengzhou, He Nan Province busted another 50,000 fake bottles, worth over 2.8 million USD. Given the nature of wine fraud, these reported cases are only the tip of the iceberg.Wineries and distributors have taken various measures to combat fraudulent sales, yet few have proved useful. To tackle the issue, D.I.G (Shanghai Waigaoqiao Direct Imported Goods Co., Ltd.), a major importer in China worked with VeChain, a world-leading enterprise-level public blockchain, and launched the Wine Traceability Platform (hereafter referred to as WTP) in June 2018.Built on the VeChain ToolChain, a revolutionary one-stop BaaS platform designed by VeChain, WTP took advantage of the strengths of blockchain, IoT devices, and mobile devices to keep track of the lifecycle of wine from wineries to distributors. So far, more than 20 wine products imported by D.I.G have gone live on the platform, accounting for one-third of total wine products imported by the company. According to D.I.G, the WTP-powered wine products enjoyed an average of a 10% increase in sales after implementing the solution, resulting from enhanced consumer confidence.Penfolds 407 with VeChain NFC Tag AttachedIn July 2019, Phase 2 of WTP kickstarted with the introduction of Penfolds Bin-407. This was the first time that Penfolds, one of Australia’s most famed and respected winemakers, had been empowered by blockchain for enhanced transparency and traceability. Founded in 1844, Penfolds is best known for its iconic Grand Wine. Over the years, Penfolds has won a number of accolades and awards. For example, the 1955 Grange was named one of the top 12 wines of the 20th Century by Wine Spectator, and the 2008 Grange picked up a perfect 100-point score from Wine Spectator and Robert Parker’s Wine Advocate.Read the official announcement from D.I.GVeChain NFC Chip Specially Designed For WineIn the case of Penfolds Bin-407, each bottle is attached with an encrypted NFC tag specially designed for wine products. By reading the NFC chip, customers can access the relevant wine bottle’s immutable product information stored on the blockchain, including provenance information verified by independent auditors such as DNV GL. With the VeChainThor Blockchain technology and the WTP platform, Penfolds and similar wineries can now make it less likely for their products to be counterfeited while allowing consumers to form more in-depth insight into the product, enhancing their confidence and trust.VeChainThor Blockchain-powered Penfolds Bin-407 Available At D.I.GVeChainThor Blockchain-powered Penfolds Bin-407 bottles are now available in three brick stores:Waigaoqiao International Alcohol Exhibition & Trading Center:№77, Fute West 3rd Road, China (Shanghai) Pilot Free Trade ZoneD.I.G Flagship Store:№460, Fute North Road, China (Shanghai) Pilot Free Trade ZoneSen Lan Shang Du Store:№2988, Zhangyang North Road, Pudong New DistrictAbout DIGLocated in China (Shanghai) Pilot Free Trade Zone. D.I.G (Shanghai Waigaoqiao Direct Imported Goods Co., Ltd) is committed to becoming the largest distributor of imported goods in Shanghai, even China, and providing a range of services including the exhibition, trade, logistics, e-commerce and distribution of imported goods. D.I.G. adheres to the principle of “Innovation, Leadership, Integrity, and Win-win”, aiming to create the most efficient and trustworthy system for goods import. So far, D.I.G imports around 10,000 kinds of products, including food, alcohol, daily necessities, cosmetics, watches, and many others.
19. 08. 06
VeChain Attends Amazon Web ...
VeChain Attends Amazon Web Services (AWS) Global Beijing Summit, Showcased VeChain ToolChain and Various VeChainThor Blockchain-Powered Use CasesThe AWS Beijing Summit, a grand gathering for the Chinese cloud computing community hosted by AWS, was held on Wednesday. VeChain attended the Summit as a technology partner of AWS in the blockchain industry and a member of AWS Partner Network (APN). The Summit brought together over 200 APN Partners and over 150 guest speakers, such as the experts from IBM, Xiaomi, and Deloitte, to have in-depth discussions on the best practices of cutting edge cloud technology. More than 15,500 attendees from across China attended the Summit.The cooperation between VeChain and AWS kick-started this year. In February 2019, VeChain announced the launch of an integrated solution into the AWS Cloud platform to enable one-click deployment of VeChainThor Blockchain Nodes upon VeChainThor Blockchain. Since then, VeChain has received strong support from AWS in terms of operations, technology development, and marketing. So far, there’re over 20 enterprise projects running on the ToolChain deployed on AWS, such as BMW, Latitude 28 and SBTG. In addition to that, the Partner Version of VeChain ToolChain is ready to be deployed on AWS. With the introduction, partners of VeChain are allowed to set up their own ToolChain rapidly, further accelerating the pace of VeChainThor Blockchain adoption.Mr. Gu Jianliang, Chief Technology Officer at VeChain, attended the summit as keynote speakerMr. Gu Jianliang, Chief Technology Officer at VeChain, attended the Summit as a keynote speaker. In his speech, Mr. Gu introduced VeChain ToolChain, a revolutionary one-stop Blockchain-as-a-Service solution. ToolChain integrates the strengths of NFC/RFID chips, IoT sensors, and mobile devices to lower the threshold for adopting blockchain technology. The solution comes with a variety of general-purpose interfaces, with which anyone, even those without any tech background, can build their own blockchain-based solutions for their businesses.Thanks to the joint efforts made by VeChain and its partners, VeChain ToolChain-powered solutions, such as the Digital Carbon Ecosystem, Liquefied Natural Gas Solution and Consumer Confidence Index have been successfully integrated into various industries and sectors including FMCG, Food and Beverage, Wine, Luxury, Automobile, Healthcare, and more. Through the application of the above-mentioned solutions, the participating enterprises streamlined their business workflow and enjoyed greater transparency, enhanced security, and reinforced traceability. The adoption of blockchain technology created real value for the real economy.The partnership between the two parties proved to be a win-win for both. As Mr. Gu said: “On the one hand, it allows enterprises to deploy quick, secure, and compliant blockchain applications, which is essential to promote the mass adoption of blockchain technology. Other than that, the blockchain technology provided by VeChain can be leveraged to create value for AWS’s clients. More importantly, the interaction and exchange between the VeChainThor ecosystem and that of AWS are giving rise to new business models and application scenarios, which brings opportunities for the two.”About Amazon Web Services (AWS) Global SummitsAWS Global Summits are free events hosted by Amazon to bring the cloud computing community together to connect, collaborate, and learn about AWS. At the AWS Summits, you can learn how to choose the right database, modernize your data warehouse, and drive digital transformation using AI. Summits are held in major cities around the world and attract technologists from all industries and skill levels who want to discover how AWS can help them innovate quickly and deliver flexible, reliable solutions at scale.
19. 07. 31
San Marino Republic Adopts ...
San Marino Republic Adopts VeChainThor Blockchain To Strive To Become The First Carbon Neutral CountrySan Marino, July 22, 2019 — A Memorandum of Understanding has been signed between the Republic of San Marino Secretary of State for Industry, Trade, Business, Cooperation and Telecommunications, Republic of San Marino Innovation Institute S.p.A, DNV GL Business Assurance Group AS and VeChain Foundation Limited.https://medium.com/media/424bbaac791d34f8b4af6610fc9666d6/hrefVeChain and DNV GL, together with San Marino Innovation, will guide the Republic toward the adoption of blockchain technology, crypto-utility token infrastructure and utility token use cases, in order to define models capable of incentivizing sustainable behavior from its 33,562 citizens. It is part of San Marino’s strategy to develop, promote, and deliver a full ecosystem of technological innovation to facilitate digital transformation.From left: Sunny Lu, Founder of VeChain; Andrea Zafferani, Segretario di Stato Segreteria di Stato per l’Industria, l’Artigianato e il Commercio, il Lavoro, la Cooperazione e le Telecomunicazioni della Repubblica di San Marino; Renato Grottola Global Director — M&A and Digital Transformation, DNV GL — Business Assurance; Sergio Mottola, Presidente San Marino Innovation — Istituto per l’Innovazione della Repubblica di San Marino S.p.A.The first carbon-neutral country: blockchain transforms civic engagement.The “San Marino Low Carbon Ecosystem” was proposed by DNV GL, in collaboration with VeChain. It aims to reduce CO2 emissions and subsequently, implement circular economy business models.The platform will encourage environmentally friendly practices such as water saving, waste disposal and management. The practices will be rewarded through a utility token, the San Marino Innovation Token (SMIT) issued by San Marino Innovation, which can be used to access services offered within the Republic. The introduction of the low carbon ecosystem represents a first global example of incentivization top-down from a national level government body to the nation’s citizens through the use of blockchain technology and a utility token issued on the VeChainThor Blockchain. This will be the first of many dynamic use cases of SMIT within the Republic. In the future, working groups among the two partners involving technical and legal specialists as well as institutions will be established to guarantee swift and effective operations.“We are particularly proud of this Memorandum of Understanding that certifies the Republic of San Marino as the ideal place to foster a culture of experimentation and bring blockchain to our everyday lives. We’ll give life to a project that will directly engage citizens and reward their sustainable behavior, while also meeting the country’s demands in regards to CO2 emissions reduction, water-saving, and waste disposal and management. Our ambitious goal is to become the first zero-emissions country in the world,” said Andrea Zafferani, Republic of San Marino Secretary of State for Industry, Trade, Business, Cooperation and Telecommunications.Leveraging trust and transparency of blockchain to power sustainability.Sunny Lu, Founder of VeChain: “VeChain’s fundamental strategic goal is to push for blockchain mass adoption in a manner that will change people’s lives for the better. We are pleased and excited to work with San Marino and DNV GL to help create a country level top-down driven ecosystem and the launch of the San Marino Innovation Token with blockchain utility at its core. The initiative is significant and unique to any country-led blockchain project. We are excited to be part of this impressive accomplishment and honored that San Marino Innovation selected the VeChainThor Blockchain to be the underlying blockchain technology infrastructure that will power the token. This is not just a significant milestone achieved for VeChain, but for the entire blockchain community. We will utilize all of our technical know-how, our tokenization experience and the global influence of the VeChain ecosystem to make sure this project can create a tremendous amount of value to the citizens of San Marino”.Real projects kick-off after a full year of intense work.“This is an excellent accomplishment that comes after a year of intense work and activities. We are proud to have signed the Memorandum of Understanding together with DNV GL Business Assurance Group AS and VeChain Foundation Limited, as this represents a clear sign of the attractiveness generated by San Marino in regards to technological innovation. These are real projects that will soon provide tangible results.” states Sergio Mottola, President of San Marino Innovation. “We demonstrated that the political strategies aimed to reward the citizen, which are already partially in place through the SmaC circuit, paired with blockchain technology, recently regulated by a Decree-Law ratified a few months ago, can successfully attract relevant partners. The San Marino Innovation Token is the right catalyst to encourage investments and deliver ambitious projects”.“San Marino represents a unique opportunity to create a bridge between the digital and the traditional world. A major step toward the rapid adoption of such projects, that lay the foundation for a future of meaningful interaction among individuals sharing the same vision: creating a tangible, positive impact for our planet” adds Renato Grottola, Global Director — M&A and Digital Transformation, DNV GL — Business Assurance. “We’re happy and proud to be part of this project, to build a future that here, in San Marino, already exists.”About VeChainStarting in June 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco.About DNV GL — Business AssuranceDNV GL is one of the world’s leading certification bodies. We help businesses manage risk and assure the performance of their organizations, products, people, facilities and supply chains through certification, verification, assessment and training services. We combine technical, digital and industry expertise to empower companies’ decisions and actions. DNV GL has partnerships with multiple technology providers, such as blockchain provider VeChain. We continually expand our ecosystem of partners to bring a wide range of innovative solutions to the market. Working with our customers and partners, we build sustainable business performance and solutions, creating stakeholder trust across all types of industries.About San Marino InnovationSan Marino Innovation was incorporated by the Government of the Republic of San Marino to drive open innovation initiatives, grow the ecosystem and the presence of San Marino as an Innovation Hub internationally. We are effectively the Government Innovation Institute which manages corporate innovation projects, incubation and acceleration of startups, and international relations to facilitate technology exchange.For news inquiries, please email to firstname.lastname@example.orgDNV GL Announcementhttps://www.dnvgl.com/news/san-marino-republic-adopts-blockchain-to-become-the-first-carbon-neutral-country--154173San Marino Innovation Announcementhttps://www.sanmarinoinnovation.com/comunicati-stampa/san-marino-il-primo-stato-a-impatto-zero-la-blockchain-arriva-ai-cittadini-e-premia-i-comportamenti-virtuosi
19. 07. 25
Partner Update and Spotligh...
China boasts a prosperous Liquefied Natural Gas (LNG) market. In 2018 alone, 280 billion cubic meters of natural gas has been consumed. With China’s coal-to-gas conversion policy and a fast-growing economy, we can expect an increasing demand for LNG in the years ahead. To better serve the enormous Chinese market, ENN Energy Holdings Limited, one of the largest energy service providers in China, has turned to VeChainThor Blockchain for optimal quality control and supply-chain management. Nationwide, ENN is operating 187 project cities that cover a connectable urban population of 94.57 million in China.In August 2018, at the China International Gas & Heating Technology and Equipment Exhibition 2018, ENN, VeChain, a leading enterprise-level public blockchain platform, and Shanghai Gas, a state-owned company that accounts for more than 90% of Shanghai’s total gas market, signed a strategic cooperation agreement to develop a VeChainThor Blockchain-based LNG solution.This Solution was first adopted by Zhoushan LNG Storage and Distribution Centre. In this application, VeChainThor Blockchain is applied in combination with IoT devices to facilitate supply-chain management. Upon arrival, the gas will be injected into different tanks, from there each tank of gas is assigned a tank number, associating with the relevant data stored on the blockchain, such as clarification value, sources, and the like. When trucked out to retailers, logistics information and the LNG quality reports will be uploaded to the blockchain as well. Through this process, the data of LNG from carrier to local distributors can be cross-validated and verified on blockchain fulfilling government mandates.ENN Zhoushan LNG stationIn this episode of our “Partner Update and Spotlight Series”, Tao Zhou, Deputy General Manager of Domestic Trade Group, ENN Energy Trading Group was invited to speak about how the VeChainThor Blockchain has brought real value to their business.Being a brand new technology, it’s natural for blockchain to be doubted or even criticized, but instead of evading the critics, we should rise up to the questions and develop solid solutions and explore new application scenarios to integrate it with the real economy. We’re glad to have this opportunity to cooperate with innovative technology companies like VeChain to create new ways of trading and information processing for the energy industry. From our experience in the past year, the integration of blockchain into the energy industry is possible. I believe that in addition to the LNG business, the cooperation will also contribute to other businesses and products of ENN. We also hope that the community members would join us in promoting the business and further its presence on the market.— — Tao Zhou, Deputy General Manager of Domestic Trade Group, ENN Energy Trading Grouphttps://medium.com/media/bddd3bc9631a0c9c4d9a832915117b90/hrefRead the excerpt of the full video interview below:Q: On the first anniversary of the launching of the VeChainThor Blockchain mainnet, do you have anything to say to VeChain?First of all, I would like to congratulate VeChain for the first anniversary of VeChainThor mainnet. On behalf of ENN, I would like to extend my best wishes to VeChain, and hope that the business of VeChain would flourish, and onboard even more partners going forward, I also hope that ENN can create even higher value upon VeChainThor Blockchain.Q: In which use case did ENN implement VeChainThor’s blockchain technology?The cooperation of ENN and VeChain started in August 2018, when ENN, VeChain and Shanghai Gas signed a strategic cooperation agreement. It was in September 2018 when VeChainThor Blockchain technology first used in the pilot phase of the ENN Zhoushan Terminal, which is the first large private-owned LNG Terminal in China. In the application, VeChainThor Blockchain technology is integrated into our existing system to keep track of the transportation, sales, usage of LNG and the settlements.Q: What positive changes have VeChainThor Blockchain technology brought to ENN?The natural gas imported by ENN is from all over the world, so the composition, quality, calorific value, and gasification rate varies from batch to batch. Local distributors are also paying great attention to the pressure changes of the gas during transportation, the time of arrival, and price changes.With VeChainThor Blockchain technology, the above-mentioned information can be verified and stored on the blockchain, thus users can grasp the information by scanning QR codes. In this way, we can ensure information authenticity and transparency, while further enhancing safety.The solution has not only been well-received by our customers, but also drummed up interest among a number of financial institutions. With the authentic and encrypted data available for checking, they are now provided with a tool for information query and verification, which is making it possible for them to provide various supply-chain financial services. It’s part of our future plan to help materialize that idea.Q: Why did you choose VeChain?First, ENN and VeChain’s cooperation is the result of the recommendation from Mr. Zhehong Wang, the Chairman of Shanghai Gas.Secondly, this choice is a no-brainer for ENN as we’re undergoing digital transformation.Thirdly, we thought it would be great to cooperate with a company that is strongly supported by DNV GL and PwC. Most importantly, we were very impressed by VeChain’s professionalism, openness, inclusiveness, as well as their solid technical background.Q：How does ENN empower its clients through the VeChainThor Blockchain?Without blockchain, we would have to invest lots of time and human resources to have the information transferred from one person to another through phone calls, emails, QQ, and WeChat. This is not only a waste of time and resources, but also leaves our system vulnerable to human intervention and errors.Now, with the VeChainThor Blockchain, relevant data can be uploaded to the blockchain in real-time, making it possible for our clients to check and backtrack all the changes at their discretion, without being troubled by the time and resources needed for communication or human errors.In addition to that, since all the data stored on the blockchain are authentic, encrypted and available for checking, supply chain financial service providers are now provided with a tool for information query and verification. So that moving forward, empowered by VeChainThor Blockchain, supply chain financial services, including warehouse receipt pledge, quality traceability and safety assurance, can be provided for our clients.Q: In the next stage, what is ENN’s plan for VTHO consumption on VeChainThor Blockchain?Firstly, as the Solution has become increasingly popular among our clients, we are gaining even more confidence in VeChainThor Blockchain technology, thus we will persistently push ahead this new business.Secondly, with the development of Zhoushan LNG Terminal, we can expect sustainable growth in shipments. The total daily delivery is about 60 truckloads right now, we are increasing the number to over 200. In the future, we plan to further increase the number to 400, as a result of the expansion of the Zhoushan pilot program’s scale and delivery capacity.Thirdly, we will promote the Zhoushan Model to 20 other terminals that have business with us in China, starting from the leading enterprises like Shanghai Gas, Guanghui Energy, Guangdong Jiufeng.Fourthly, we are considering to introduce the model to other related fields. For one, as I mentioned, we will work with common clearinghouses, banks, insurance and mortgage companies to provide more value-added services to our users.As ENN is trying to shape up diversity in its business, we hope that our cooperation with VeChain can be extended to fields other than LNG, such as electricity, renewable energy, thermal energy, oil and gas, coal and more. With the expansion of trading volume, the consumption of VTHO would increase as well.Empowered by the VeChainThor Blockchain, ENN has successfully lifted their supply-chain management to a higher level and streamlined the once complicated and complex internal practices and procedures.Moving forward, VeChain will work even more closely with ENN to promote the model to other LNG projects and explore new business scenarios, generating value for both the real economy and the end consumers.*This is the fifth installment of the Partner Update and Spotlight Series. We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases that these partners are implementing on the VeChainThor main net includes energy, supply chain management, retail, digital certificates, food, and beverages. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.Read and watch the other installments through the links below:Partner Update and Spotlight Series: iTaotaokehttps://medium.com/vechain-foundation/partner-update-and-spotlight-series-itaotaoke-74c00f27b4d0Partner Update and Spotlight Series: MadeforGoodshttps://medium.com/vechain-foundation/partner-update-and-spotlight-series-madeforgoods-22645693a65aPartner Update and Spotlight Series: DNV GLhttps://medium.com/@vechainofficial/partner-update-and-spotlight-series-dnv-gl-da57bb66a0ebPartner Update and Spotlight Series: BrightCodehttps://medium.com/@vechainofficial/partner-update-and-spotlight-series-brightcode-61794db9941b
19. 07. 24
VeChainThor Blockchain Empo...
VeChainThor Blockchain Empowers the Lifecycle Management of Premium Beef Produced in Australia With VeChain ToolChain Turnkey Solution“The Chinese market provides great opportunities for Australian premium beef suppliers thanks to its enormous market, increase in per capita income and changes in the food consumption structure.” (Source: GLOBAL MARKET SNAPSHOT)According to the latest report on China Beef Imports released by the Meat & Livestock Australia, China registered a record high of beef import (1,194,363 tons) from April 2018 to April 2019. Among that, beef imported from Australia (205,908 tons) accounted for 17.24% of the total, fourth only to Brazil (338,473 tons), Uruguay (236,651 tons) and Argentina(234,205 tons). (Source: China Beef Imports-Global Summary) In addition, from January to December 2018, Australian beef exports amounted to 1,125,657 tons in total, 17.6% of which were exported to China, third only to the United States and Japan. Chinese demand for Australian beef is still on the increase. (Source: Australia Beef Export-Global Summary)L28 is a branded premium meat supplier in Western Australia, where the families running the business have been in the industry since 1904. Over its century-old business, L28 has always adhered to the highest standards in meat source selection. With the high demand for premium meat in the Asian (especially China) market, the company is now dedicated to delivering the best quality meat products to Chinese consumers, and it is taking the lead in leveraging blockchain technology for anti-counterfeiting and optimized supply-chain management.The beef cattle of L28 are raised in the ranch located in the primal landscapes of Australia and fed with quality grain to ensure their health. From the choice of farms and farmers to state-of-the-art processing and packaging, L28 keeps a close eye on all the stages of the supply chain, making sure only the best will be a part of its product line. All the meat is hand-selected by L28 in accordance with its stringent quality requirements to ensure the beef provided for the consumers is of the highest quality.L28 is committed to providing products that are “Traceable, Interactable and Engageable”. In its latest effort, L28 integrated the VeChainThor Blockchain technology into its business model to provide consumers from around the world with a brand new way of interacting with the Australian meat producer. Going forward, it will continue to provide clean, safe and healthy meat products for the consumers.How VeChainThor Blockchain technology solves supply chain problems in the meat export industry？The traditional meat export process is composed of four stages: raising, primary processing, exporting to overseas meat factories, and then cutting and packaging at retail stores.Under this model, meat producers, including L28, face several major problems:The name or quantity of the products might be mistaken upon loading or unloading.Generally, overseas meat factories import meat from all over the world, and Australian meat producers find it hard to keep track of their products in a timely and effective manner afterward. According to a PricewaterhouseCoopers survey, each year, nearly $2 billion worth of meat products produced in other countries are sold deceptively as Australian beef.Meat products are needed to be stored at required temperature ranges during transportation; otherwise, they would deteriorate and spoil.Should there be any problems with the products, it is impossible or highly difficult to pinpoint the exact problematic batch and an across-the-board recall will cause heavy losses to the supplier.To solve these problems, L28 joined hands with VeChain to develop a meat traceability solution. Developed on the one-stop BaaS platform, VeChain ToolChain, and coupled with verification service provided by DNV GL, a world-leading certification body, the Solution can ensure that L28 products are manufactured in accordance with the high standards set by the producer, thus optimizing supply-chain management and guaranteeing product quality.https://medium.com/media/134b61ba08fb673c7ec6a831b40749b0/hrefThe benefits of the VeChain ToolChain solution:Combining the strengths of blockchain, IoT and third-party verification provided by DNV GL, we can ensure the data’s reliability and authenticity.The product and logistics data stored on the blockchain can be used to facilitate the beef producers’ supply chain management and digital transformation.Improve the safety of products and supply chains, enable the manufacturers or suppliers to check their products’ status in real-time, thereby reducing or avoiding information lag or asymmetry;Key upstream and downstream enterprises are allowed to share data with each other for enhanced mutual trust and cooperation.Enhance consumer trust by providing authentic and traceable information.A close eye will be kept on the products. Should anything went wrong, the producers will be able to conduct targeted recalls based on the reliable data stored on the blockchain.As of now, the first batch of VeChainThor Blockchain-empowered beef has been available on JD.com (https://latitude28.jd.com/).When consumers buy L28 products from JD.com, they can use the VeChain Pro app or other apps that support QR Code scannings such as WeChat or Alipay, to scan the QR code attached to the package of the product, and access its key information stored on the VeChainThor BlockChain, such as provenance and logistics.Product and traceability info displayed on the app“L28 is born with the mission of providing the best products and thereby building and strengthening consumer trust, the partnership with VeChain just marks our latest effort in achieving that ultimate goal, with the completed solution provided by VeChain that covers the product’s entire lifecycle, consumers are able to access the authentic data of the premium Australian beef they bought, as well as the lamb, which will be available on JD.com soon. ”— — James Williamson Managing Director Latitude 28As a vanguard in promoting digital transformation in Australia’s meat and livestock industry, L28 has received strong support from Meat & Livestock Australia, and has been selected as a Digital Transformation Member of the association. Going forward, L28 not only plans to bring their lamb business onto the VeChainThor Blockchain, but also the other meat providers in Australia.VeChain and DNV GL will work closely with L28 to empower Australia’s meat and livestock industry with VeChainThor Blockchain technology. The three parties will build a network of value connecting the up- and downstream enterprises, aiming to solve the existing trust issues of the industry, optimize the industrial chain, and facilitate its digital transformation.VeChainThor Blockchain Empowers the Lifecycle Management of Premium Beef Produced in Australia… was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 07. 24
Partner Update and Spotligh...
Built upon the next generation BaaS platform — VeChain ToolChain, BrightCode is by nature a Blockchain-based commercial ecosystem and commodity confidence index platform. The BrightCode platform combines the strengths of IoT, Blockchain, and third-party assurance to create an innovative business model where every stakeholder complements each other, be it consumer, producer, supplier and more.Introduced by Shanghai Xiandao Company of Bright Food (Group) Co., Ltd at the China International Import Expo 2018, BrightCode has seen its applications in the food industry. In the introduced solution, BrightCode is used to keep track of the entire lifecycle of the products. The first batch of the products to have gone live on BrightCode includes the premium “Cupids Farm” Milk.Cupids Farm milk powered by BrightCode and VeChainThor Blockchain is available in the marketIn this episode of our “Partner Update and Spotlight Series”, Zhe Xu, General Manager of Shanghai Xiandao Food Co. Ltd, a subsidiary of Bright Food Group Co. Ltd, was invited to speak about how the VeChainThor Blockchain has brought real value to their business.With the product data verified by DNV GL and stored on the VeChainThor Blockchain, BrightCode can ensure the authenticity of the information and prove that the products provided on the platform are of high quality, thus solving the issue of information asymmetry and bridging the trust gap between the enterprises and consumers. With BrightCode, we can endorse the credibility of our clients, and help them enhance consumer confidence.— -Zhe Xu, General Manager of Shanghai Xiandao Food Co. Ltdhttps://medium.com/media/6b6cb1c91e886557cc1a602e0b972fea/hrefRead the excerpt of the full video interview below:Q: On the first anniversary of the launching of the VeChainThor Blockchain mainnet, do you have anything to say to VeChain?Congratulations on the first anniversary of launching the VeChainThor Blockchain mainnet! We appreciate all that VeChain has done to help us integrate Blockchain technology into the business of Bright Food, a relatively traditional food enterprise, so that we can better keep track of the products, guarantee the quality of the products and prove to the consumers that the food we provide is safe and of high quality.Q: In which use case did BrightCode implement VeChainThor’s blockchain technology?Well, in the case of BrightCode, the VeChainThor Blockchain is applied to our dairy products, such as the Cupids Farm Milk, which is now available on Bright Food Suixinding (online store). With BrightCode, we can provide a huge amount of information with a lot of details, covering almost all the nodes of the supply chain from production to distribution.Within BrightCode, you can even find the temperature of each process of the cold-chain transportation. The data shown on the BrightCode platform is collected by IoT devices, which are accredited by third-party auditors, to avoid human intervention and errors. In the meantime, the VeChainThor Blockchain is leveraged to protect the data from being tampered. We also have third-party certification agencies such as DNV GL to verify the data, and PICC to provide assurance for the quality of the products.Q: What positive changes have VeChainThor Blockchain technology brought to BrightCode?Basically, BrightCode is an open commodity confidence index platform built upon VeChainThor Blockchain technology. Embedded with the mathematical model designed by DNV GL, the information of the products’ source, production, and logistics input into the system can be used to calculate a reference value together with the feedback from users and industrial quality standards.With the collected data and reference value, we can better evaluate the products in an all-round way. Empowered by Blockchain, BrightCode is designed to be a comprehensive and reliable confidence index platform, and we’re not taking our mission lightly. We will make relentless efforts in providing consumers with trustworthy and transparent product information.Q: Towards members of the VeChain community that are interested in this project, is there anything you would like to say to them?BrightCode, empowered by Blockchain technology, is a product of the joint efforts made by all stakeholders. I believe that being an excellent technology itself, Blockchain will see its applications in much greater scope and make a significant difference to our lives going forward.Q: In the next stage, what is BrightCode’s plan for VTHO consumption on VeChainThor Blockchain?We are going to introduce BrightCode to more companies from a variety of industries such as food, automotive parts, medical, and more. With the further adoption of Blockchain technology, BrightCode will also expand its footprints and have more companies and products onboard, which will lead to an increase in the volume of valuable transactions on the VeChainThor Blockchain mainnet.Q: Why did you choose VeChain?First of all, the Blockchain technology that VeChain provides is exactly what enterprises like us need, and is also the direction of our future development.Secondly, we’re impressed by the team chemistry of VeChain and found it nice to work with them. We believe that moving forward to the future, with our joint efforts, our cooperation will yield even more results for both parties.BrightCode has set itself as a great example of implementing the VeChainThor Blockchain in creating a business model where information asymmetry can be eliminated and the trust issue in consumer relations can be solved.Looking ahead, VeChain will join hands with BrightCode to further promote the platform to application scenarios outside of food and beverage, such as auto parts and healthcare, thus creating more value for both consumers and the real economy and creating even more valuable transactions on the VeChainThor Blockchain.*This is the third installment of the “Partner Update and Spotlight Series.” We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases that these partners are implementing on the VeChainThor mainnet includes energy, supply chain management, retail, digital certificates, food, and beverages. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.Read and watch the other installments through the links below:Partner Update and Spotlight Series: iTaotaokePartner Update and Spotlight Series: MadeforGoodsPartner Update and Spotlight Series: DNV GLTo learn more about VeChain’s blockchain-powered consumer confidence index solution and use cases, please visithttps://www.vechain.com/solution/productassurance
19. 07. 19
VeChain Rolls Out New Bount...
The VeChainThor Blockchain’s two token-system is designed to balance the market volatility and the cost of using blockchain. As the valuable energy which powers all activities of our ever-growing VeChainThor Blockchain, VTHO’s long term price equilibrium is subject to market forces, created by its generation from VET and market purchase activities from entities which consumes VTHO for their business needs. The VeChain Foundation and Steering Committee are observing closely on this matter, with frequent economic model analysis as well as continuous optimization of the transaction cost being key initiatives on the Steering Committee’s agenda.As Sunny touched on the VET/VTHO economic model in his recent AMA Marathon, in real-life use cases, companies choose to use the VeChainThor Blockchain to facilitate transactions that they can not perform without it. These transactions, therefore, have real economic value and consume VTHO as per the economic model. As the number of companies using VeChainThor increases and businesses scale up their usage, VeChainThor helps to create transactions with increasing economic value, which thus will be reflected by the demand and price of VTHO on the open market.To allow and enable the developers in the ecosystem to better focus their talent on building projects for the community and give a kickstart to the community, the VeChain Foundation has decided to take the initiative to launch a VTHO subsidy program as well as relaunching an updated VeChainThor Supercharger program for developers who implement native fee delegation features to their application.1. VTHO Subsidy (July 22 to October 22)Over the next three (3) months, the Foundation will subsidize all developers who run applications on the VeChainThor Blockchain 50% of the total VTHO consumed via their applications’ transactions. The Foundation will review, provide, and announce the subsidy on a bi-weekly basis in the VeChainWorld forum.Applications eligible for this bounty must meet all of the following criteria:The application is added to the VeChainWorld Application HubOnly addresses included in the application info of the Application Hub will be recorded for this bounty (if the addresses are not complete, please update your application information through the application hub)Projects are not running on VeChain’s blockchain as a service infrastructure (such as ToolChain)The VTHO consumed via the application is not sponsored via the VeChainThor Supercharger Bounty ProgramApply now through the bounty post in the VeChainWorld forum.2. VeChainThor SuperchargerFirst introduced on February 8, 2019, This program is designed to encourage projects developing on the VeChainThor Blockchain and ecosystem to leverage VeChainThor’s native fee delegation features (i.e. Multi-party Payment and VIP191 — designated gas payer) to provide smooth user experience and subsidize projects for the transactions they create on the VeChainThor Blockchain to facilitate the ecosystem’s growth.Native fee delegation is among the most popular features introduced as it allows the application operator to pay for transaction fees on behalf of their users or delegate the transaction fee to a designated third party which significantly helps onboard users to the Blockchain-based application seamlessly. Without native fee delegation, Exchange sign-ups and Blockchain transaction fees can deter those who have not yet fully engaged with the application or the Blockchain protocol.The VeChain Foundation considers native fee delegation to be one of the most critical features to enable seamless mass adoption of Blockchain-based decentralized solutions. In its enterprise use cases, applications will not be able to perform without such fee delegation features. VeChain is the first pioneer in the world of public Blockchains to implement native fee delegation before any other projects. To further assist the Blockchain and crypto community, VeChain introduced the Multi-Party Protocol (MPP) to the public on April 21, 2018, and through VIP191, fee delegation has been extended and implemented at the ecosystem level beyond the native VET token. Up until recently, several other globally well-known Blockchains and cryptocurrency projects have since adopted our innovation.Developers with fee delegation-enabled applications are eligible to apply for this one-time bounty program, and if accepted, the Foundation will allocate 3M VTHO on a dedicated sponsor address for the application. By this way, the application developer can leverage this sponsorship to boost the user onboarding.Apply for the VeChainThor Supercharger bounty via the online form and the program administration team will get in touch with you to set up the sponsor address.*The VeChain Foundation reserve the rights to disqualify an application, not accept a submission for VeChainThor Supercharger or terminate it before the allocated sponsorship is used up, if, determined by the program administration team that the submission violates the rules or is deemed as duplicated, abuse or false information.Sign up for the VeChainThor Supercharger now!
19. 07. 17
Partner Update and Spotligh...
As a global provider of assurance services and one of the world’s leading certification bodies, DNV GL sees the potential that blockchain possesses in boosting transparency and traceability. On the other side, VeChain, one of the early movers that pioneered the technology outside of fin-tech, made a perfect match for them.On January 24, 2018, the two parties forged a strategic partnership with an initial common goal of combining DNV GL’s know-how in the assurance industry with advanced blockchain technology provided by VeChain. This partnership aims to empower clients with increased control over their products and services and improve overall efficiency across the value chain.Since then, VeChain and DNV GL embarked on a spectacular journey of promoting mass commercial adoption of blockchain technology not limited to supply chains, and successfully launched multiple blockchain-based solutions such as My Story™, BrightCode, Digital Carbon Ecosystem, and helped integrate blockchain technology into various industries and sectors including F&B, FMCG, Wine, Luxury, Automobile, Healthcare, and more. With the application of the VeChainThor blockchain, DNV GL and VeChain are creating real, net positive economic value for enterprise clients through provable, cutting-edge technology.“From DNV GL Global to DNV GL China, everyone is actively promoting digital transformation. At its core, blockchain technology is essentially digital technology. With VeChain’s assistance, we could better empower some verification solutions that we currently have at DNV GL. Meanwhile, we have developed a new blockchain-based digital verification solution with VeChain. With the new solution, we can build a safer, better and more reliable connection between brands, enterprises, and consumers.”— — Jie Yu, Director of Digital Transformation at DNV GL Business Assurance Greater Chinahttps://medium.com/media/12f102ead7dfb841f50f05077960d3d1/hrefBelow is an excerpt and highlights of the video interview.Q: Why did you choose VeChainThor Blockchain?I’d like to call it an “inevitable coincidence.”DNV GL is a global enterprise that focuses on delivering trust and is dedicated to creating commercial values and achieving mass adoption while VeChain is born with the mission of promoting blockchain adoption and “Creating Valuable Transactions”. With shared value and vision, it’s natural for the two to come together.Here’s the story behind our cooperation. About three or four years ago, the headquarters of DNV GL and its office in China, through their own channels, both contacted VeChain with an intention to form a partnership. But they had no idea that they were actually in contact with the same company. Both claimed confidently, “We found a terrific blockchain company eligible for cooperation.” To persuade the other side that they’ve picked a better one, the two parties had an in-depth discussion and only to find out that they’ve chosen the same company. And so, the process following that went smoothly and DNV GL decided to establish a strategic partnership and invest in VeChain.Q: On the first anniversary of the launching of the VeChainThor Blockchain Mainnet, do you have anything to say to VeChain?A: Congratulations on the one-year anniversary of launching the VeChainThor Blockchain Mainnet! Over the last year, we have achieved really impressive results and implemented a number of commercial application cases. And I hope that in the next 1 to 3 years, DNV GL and VeChain can implement more commercial application cases and thereby creating greater value.Q: Which business area of DNV GL has VeChainThor blockchain technology been applied?VeChainThor blockchain technology has been applied in multiple business areas of DNV GL. For example, DNV GL has integrated VeChain’s ToolChain developer portal into the BrightCode and My Story™ solutions to collect temperature data, test data, and relevant data with regard to time and logistics, all of the data collected are then uploaded to the VeChainThor Blockchain.In the case of digital carbon ecosystem，we used VeChain’s smart contracts. Through smart contracts, carbon emission reduction equivalent can be calculated, based on which end users will be rewarded with carbon tokens accordingly. which is also known as carbon credits. In this way, we can build a network of value connecting enterprises and other participants within the ecosystem.Q: Towards members of the VeChain community that are interested in this project, is there anything you would like to say to them?Last year, DNV GL and VeChain have developed and implemented many commercial use cases, including BrightCode and digital carbon ecosystem. Besides, on a global scale, we have outstanding solutions like MyStory™. We have been making efforts to deliver solid results, steadily advancing the mass adoption of these solutions. In the next one to three years, and the years to come, we will gradually expand the adoption of these blockchain-based solutions in the market so that more enterprises can be included in the ecosystem. We will also explore new application scenarios to provide more enterprises with the valuable blockchain-based solutions developed by DNV GL and VeChain.Q: How does DNV GL empower its clients through the VeChainThor Blockchain?As Luca Crisciotti, CEO of DNV GL Business Assurance, and George Kang, CEO for Greater China of DNV GL Business Assurance, emphasized, we use the VeChainThor Blockchain technology to provide a new kind of digital assurance services that can empower our traditional corporate clients and generate new value and market competitiveness for them.Q: In the next stage, what is DNV GL’s plan for VTHO consumption on VeChainThor Blockchain?From our perspective, to increase the demand for VTHO, we need to accelerate the process of digital transformation, explore new application scenarios for blockchain technology and create more valuable business solutions for enterprises.In the case of DNV GL, we’re to carry out our plan in three directions. First, promote the BrightCode and My Story™ platform and attract more enterprises from food, alcohol, FMCG industries and more. Second, invite more enterprises that are committed to reducing carbon emissions to join the digital carbon ecosystem, in the long run, the ecosystem will cover a greater number of individuals through the participating enterprises. Third, we are planning to upload DNV GL certificates, which we’re promoting on the global stage, to the VeChainThor Blockchain.With the mass adoption of blockchain-based solutions and the emergence of a larger number of dApps, the demand for VTHO will increase dramatically.As a strategic partner and a world-leading certification body, DNV GL played a major role in enhancing VeChain’s presence on the global stage and laid a solid foundation for VeChain to establish itself as a household name. We’re grateful for everything that DNV GL has done to further adoption of VeChainThor Blockchain-based solutions and applications across the industries, and looking forward to the journey ahead.*This is the third article within the “Partner Update Series.” We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases these partners are implementing on the VeChainThor main net includes energy, supply chain management, retail, digital certificates, food, and beverages. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.To learn more about VeChain’s blockchain-powered digital carbon ecosystem solutions and use cases, please visithttps://www.vechain.com/solution/carbon
19. 07. 17
Top 10 Most Asked Topics Du...
VeChain successfully held an 8 hour long AMA Marathon on June 30th, where VeChainWorld Forum collected 534 questions in total. Around 67,000 people watched the live broadcast.The following are expanded answers to the top 10 most asked topics from Sunny’s 8-hour AMA Marathon live broadcast, based on the questions collected on the VeChainWorld forum.1. Economic Model1) What is the relationship between VET/VTHO and actual use cases？In real-life use cases, companies choose to use the VeChainThor Blockchain to facilitate transactions that the company can not perform without using the VeChainThor Blockchain, thus creating valuable transactions, and these transactions on the mainnet would all consume VTHO as according to the economic model. As the number of companies using the blockchain continues to increase and the business scale continues to expand, clearly, this means that the VeChainThor Blockchain and its surrounding services are assisting said companies and clients in creating more economic value, causing the demand for VTHO to inevitably grow every day, which will thus be reflected by the price of VTHO. And since VTHO is generated by VET, the price growth of VTHO will be reflected by the price of VET.In Whitepaper V1.0, it is stated that the Price of VTHO shall be stable, which was not clear enough and caused some misunderstandings in the community.What we really meant is that we need to keep the cost of using blockchain relatively stable, aka the transaction cost in FIAT should fall within a range which is acceptable by both the Foundation and commercial entities, creating and using the blockchain for transactions. Despite concerns by some quarters of the community regarding the hike in the price of VTHO causing transaction costs to be relatively more expensive, the VeChain Foundation will always closely monitor and take various measures to ensure that the cost of using the Blockchain be kept affordable for all stakeholders including community developers and non-enterprise users.2) Where do enterprises get the VTHO that they are consuming?The enterprises need to pay when they adopt blockchain-based solutions, such as ToolChain. The cost and money invested by enterprises to use ToolChain will directly be used to purchase VTHO and VET on the open market. The cost of using the blockchain is directly related to the transaction volume on VeChainThor Mainnet.2. Walmart China PartnershipWill you expand your cooperation and solutions to other supermarkets after the success with Walmart China, and is it possible that you will duplicate this model to other industries and companies?We are grateful to PwC for the successful collaboration and cooperation with Walmart China, as well as to DNV GL for the Italian Wine Association collaboration. In fact, they have been helping us all along to explore the market together as VeChain’s strategic partners and for that, we, in turn, provide them with technical support, tools, and services, so that they can easily develop new VeChainThor-powered applications for different enterprises across multiple industries and use cases.The successful cooperation between VeChain and Walmart China, first and foremost, indicates that traditional companies are willing to use Public Blockchains. Secondly, Blockchains in the future will most likely be a mixture of Public Blockchain and Private Blockchain, depending on the use case. Thirdly, by partnering with PwC to empower Walmart China’s Food Safety Traceability Platform, we have not only provided this solution to Walmart China consumers but also established contacts with Walmart China’s suppliers. In the future, we may gradually convince these companies to apply blockchain, thus putting into reality what we have been talking about — “applying blockchain technology across the board”.3. X-Node1) Why Were X-Nodes made tradable?The idea of trading X-Nodes was first put forward by early community members who held X-Nodes and expressed the hope of transferring VET to other wallets. Without node trading function, they would lose nodes after transferring VET. Besides, with such a function, we can provide a free trading platform for the community members who are optimistic about the future of the VeChain project. Apart from that, ever since the Mainnet launch and X-Node binding service started, we found out that some X-Node holders were trading X-Nodes in private through risky OTC methods, which would pose a potential threat to the assets of both the buyers and the sellers. Thus, after observation and careful consideration and discussions internally, we decided to tokenize X-Nodes as Non-Fungible Tokens and thus enabling a safe way for trading X-Nodes. Now that we are in the midst of preparing and eventually launching a better voting mechanism for the governance of the Blockchain, we will listen to the voice of the community more when making decisions like this. In the future, we will provide more benefits for X-Node holders, or even allow these holders to participate in the governance of the community.2) For X-Node holders, is it possible to set an incremental system where the longer you hold your VET, the more VTHO you will be rewarded?Good question! Actually, it is pretty much like Coin Age in Proof-of-Stake. We have given much thought to that question, but still, we need to do our research, for example, on how to achieve it from a technical perspective in our Blockchain architecture. Even if we can make it happen, we still need the community to vote before deciding whether we should actually do this.3) Will X-Node holders have more benefits in the future?We would like to first thank X-Node holders for their consistent support for VeChain. They are like family members to us. The entire VeChain ecosystem is willing to provide benefits to the X-Node holders. Therefore, with more projects onboard, X-Node holders will get more benefits. For example, through activities like this AMA, projects such as Plair, 8Hours-PlayTable, and OceanEx also joined us in providing rewards to X-Node holders to express our gratitude. In the future, the X-Node holders will be rewarded with more benefits, and they’ll have a larger role to play in community governance.4. Technical Development Plan1) What upgrades will the VeChainThor Wallet have?The new version of VeChainThor Wallet will be released in July. After collecting feedback from the community, the new version will add price display function in fiat and more support for dApps.2) What progress has VeChain made in cross-chain? What are your plans in this regard? Cross-chain technology is the future, and we have done a lot of work. At present, technical preparations have been completed, not only involving the exchange of information cross-chain, but also the exchange of value between Blockchains. In the next phase, VeChain will focus on the introduction of specific application scenarios and use cases. Please look forward to our future plans and announcements to come.3) Is it possible to achieve untraceable TX? I mean not for the entire blockchain but can be an option for untraceable tx when users want. For privacy-focused transactions, the Anonymous Protocol, ‘Bulletproofs’ as put forward by Professor Dan Boneh of Stanford University was designed to solve this problem. It will be part of the direction of our upcoming technological development, which we will mention in Whitepaper V2.0. This functionality will help both individual users and corporate customers alike.5. Roadmap of VeChainWe have many plans for the future. Our overall plan for the future is that we will continue to develop valuable applications, e.g. carbon emissions reduction, or more broadly use cases related to sustainable development. These projects will enable different people in different time zones and countries to set aside their differences for a common goal, which is in line with the ultimate goal of Blockchain development and adoption. This is why we are willing to put more efforts to explore such projects.1) What do you think of the present Blockchain industry?The first trend in the market is that more professionals and industry giants are entering, including Facebook, JP Morgan, etc. The second is that the requirement for legality and compliance has become more urgent. Large-scale commercial application is drawing closer. For VeChain, Blockchain’s advancement relies on the joint adoption and cooperation in the industry, rather than the strength of a single player.2) How is it going with the updates on the Whitepaper?Whitepaper V2.0 is being prepared. All updated contents will be published after a vote and decision made at the VeChain Foundation Steering Committee.3) Are there any ideas for a stable coin working on VeChainThor in the future?We prefer to call it a settlement coin rather than a stable coin. Current stable coin issues include lack of trust/endorsement and lack of use cases (currently only popular as a means of Cryptocurrency trading). But, there are actually lots of financial applications, such as being used as collateral or for investment purposes. The key is the need for KYC, and that’s what VeVID is designed for. The team has been discussing a lot about this. Settlement coin will be the next big thing for VeChain. Please look forward to our future announcements.6. With regards to USA Expansion, Regulation & ExchangesVeChain Foundation is still a relatively young organization, and it is true we have been spending more of our attention and more resources in Asia and Europe, which we are proud of our achievements so far in these regions. We do have a smaller presence in the USA or North America in general and we are trying to improve on our position in the market and industry. We have now hired Jason Rockwood to spearhead our business development efforts, and we do have plans in place to pivot more resources into North America, both on the business development front and also partnerships within the Blockchain and Cryptocurrency industries. VeChain acknowledges that the regulations in the United States are indeed stricter than most other jurisdictions and we will move forward under the guidance of our legal counsel in the USA, Scott Brisbin, and our Steering Committee member Daniel Kelman, both of whom are extremely experienced veterans in their respective areas of expertise. To us, being sustainable long term is the number one priority, and that means first and foremost to focus and be compliant to the current and future set of regulations. Rest assured that VeChain believes in and is very committed to the USA market.7. Exploring New Use Cases or DAppsVeChain has always believed that technology should bring new value to businesses, and the best carrier for such change is through enterprises. As enterprises already have their own business models, VeChain can take the role of an enabler, helping enterprises to better expand their businesses through VeChainThor Blockchain.Traceability is one of the major use cases for VeChain, and yet it is also the first step for many other use cases. To start the application of Blockchain in the value chain of enterprises, you have to enable businesses and enterprises to upload and store relevant data on the Blockchain.For instance, we initially provided BYD with a management solution for the whole life cycle for automobiles. Meanwhile, we offered traceability solutions in different supply-chain procedures for Bright Food’s “Cupids Farm”. When the first step is done, we discovered that they could be interconnected through our digital carbon ecosystem. BYD users can generate carbon credits, and then Bright Foods will pay for them, using real products and values to support sustainability.The Digital Carbon Ecosystem is a multi-party collaborative platform, which provides a new option for enterprises to practice social responsibilities. Through Carbon Credits, companies will be able to showcase how much they have contributed to the cause of environmental protection. For that reason, UNDP has signed with us to support the Digital Carbon Ecosystem. Thus, in the long run, VeChain will continue to support community applications and also develop enterprise-focused applications with real value on the VeChainThor blockchain.8. Regarding VeChain Community DevelopmentVeChain attaches great importance to the development of the community, and has always been listening to the community. It’s a good idea to establish a community alliance, and we hope that community members can actively participate in the organization of such groups and promote the Blockchain-based commercial applications developed by VeChain, thus adding momentum to the development of VeChain Ecosystem. Such actions will be supported by the Foundation. Plans in detail shall be disclosed in the future.When will the next election of the VeChain Foundation Steering Committee take place? Is it possible that community representatives join the Governance Committee or Functional Committee?These questions will be answered in Whitepaper V2.0. According to our existing arrangement, the members of the Steering Committee will serve a 2-year term, from ICO to the launch of mainnet, which is a trial run period. The current term started on June 30, 2018, and will end on June 30, 2020. That means a new Steering Committee will be elected before that date, together with a new architecture. And to be sure, community representatives will be able to participate.9. Relationship between VeChain Foundation and the VeChain companyVeChain Foundation was established in mid-2017. Like many other projects, it is a non-profit organization dedicated to the development of the community and the core Blockchain infrastructure. However, the lack of relevant regulations makes it really hard to get things done. For example, when you pay your employees’ salaries, not everyone accepts being paid in digital currency. So you often need to pay in fiat.In the meantime, you need a team that is capable of getting things done to run the daily operations. That’s why we established the VeChain company in Shanghai. Like many start-ups, the company provides many tools and services, and its primary job is to help VeChain Foundation with the day-to-day operations. If some toolset or other materials critical to the VeChain community are unbuilt due to financial constraints, lack of existing products or other limitations then the VeChain company will step up on behalf of the community and will build such toolsets and materials. Take the VeChainThor Mobile Wallet for example. A few years ago, many people were developing desktop wallets and few people would develop mobile wallets. However, many of our Chinese community members had established a habit of using mobile wallets. That’s where we jumped in. (Same thing about HSM). We had some great ideas that were meaningful, but there was a lack of development within the community that would put them into reality. So, the VeChain company got the job done to enable more people to develop more valuable applications on the mainnet of VeChainThor Blockchain.10. How is the USD-500-million ThorPower Fund going?The USD-500-million ThorPower fund is under smooth progress. We are targeting the main source of capital contribution to be comprised of family offices, investment funds, and other limited partners that seek long-term sustainable gains, and at the same time believe that we are making a long term difference in the world.We will engage and enlist investment professionals and/or qualified investment institutions to help manage these funds. In the meantime, we have engaged distinguished VCs and incubators to help us with identifying our future potential investment targets whom we will be bringing onboard the VeChain Ecosystem. We’ll work closely with many well-known VC and incubators such as Fenbushi Capital, Draper Dragon, LongHash, Tribe Venture, and other distinguished organizations to provide support for the projects within the ecosystem. The portfolio in their system who have interests in joining VeChain Ecosystem are also our targets. In addition, we welcome the participation of traditional Internet companies who are willing to use blockchain or find the blockchain technology useful for their businesses. It will definitely be a win-win.
19. 07. 08
VeChain Kicks Off the First...
Since the VeChainThor Mainnet Launch, VeChain Ecosystem has enjoyed substantial growth and made remarkable achievements in terms of pushing ahead the mass commercial adoption of blockchain technology. To facilitate the process and further uphold VeChain’s vision of creating valuable transactions, the VeChain Foundation recently announced a VET buyback plan worth up to $25 million. The first phase of the buyback, which amounts to no less than $5 million on the open market, will be implemented over the next quarter, starting in July 2019.The Foundation introduced the buyback strategy as part of our broader efforts to further support community building and promote the development of the VeChain Ecosystem. In addition to its funds, the Foundation will set aside a portion of its revenue to support the plan.The VET acquired will be injected into VeChain’s funding pools. With more VET in stock, more VTHO will be generated, thus allowing the Foundation to provide more financial support for projects to operate on the VeChainThor Blockchain. Hence, the Foundation can enable a lowered threshold for developers, projects and enterprises to try out the VeChainThor Blockchain and find out for themselves how blockchain technology can be leveraged to empower their projects or businesses, thereby boosting the progress of the ecosystem.Another major issue that VeChain aims to tackle with the introduction of this plan is to explore the feature of VET being used as smart money and store of value within the VeChain Ecosystem and the ecosystem of our affiliations. VeChain has been endeavored to establish VET as a value-transfer medium as well as a store of value, to enable rapid value circulation within the ecosystem. Due to the fact that the Foundation had not allotted any pools of VET for this purpose, with a portion of the newly acquired VET, VeChain will experiment with various jurisdictions and financial institutions on the medium of transfer and store of value concepts. More details to be announced as timing matures.For openness and transparency, all VET obtained through this buyback program will be sent to the following address: 0xCBb08415335623A838E27d22Ac7FDF8A370AF064. The information related to the buybacks will be disclosed in VeChain Financial Executive Report, starting from Report Vol.8.
19. 07. 05
Partner Update and Spotligh...
In the previous release, we kicked off the Partner Update and Spotlight Series with a video interview with Jie Zhou, CEO of iTaotaoke, who shared with us how VeChainThor Blockchain solutions are integrated with iTaotaoke, helping them build a platform with innovative features where self-publishers and content providers can profit from the knowledge and content they created, all while having their intellectual property protected.Supply chain management is a second area to be highlighted in this series where the VeChainThor blockchain has been brought into play, and MadeforGoods (hereafter refers to as MFG), one of the first partners of VeChain, is a perfect narrator to tell the community their experience on how the VeChainThor Blockchain is leveraged to empower their business.“The VeChainThor Blockchain has been introduced into multiple products and services we developed for our clients, and the technology contributed significantly to our product innovation and promotion. The advanced blockchain-based solution not only serves to provide better anti-counterfeiting compared with physical anti-counterfeiting solutions and traditional digital solutions, but also ensures data authenticity and immutability. As a cutting-edge technology, Blockchain is set to bring huge value moving forward. To achieve such value creation takes the joint effort and persistence of us all. ”— — Vince Yang, Co-Founder & Commercial Director of MFGhttps://medium.com/media/b87ef46b4c545c0c87e19dc85e966490/hrefBelow is an excerpt and highlights of the video interview.Q: Why did you choose the VeChainThor Blockchain?A: It’s the similarities that we share that brought us together. Both of us started our businesses focusing on innovation and we also have a lot in common in terms of our clientele and partners, for example, both of us have been working with wineries. The business culture and ideology for both of our companies are similar too, and with so much in common, it’s only natural for us to move forward to achieve greater heights together.Q: Which business area of MFG has VeChainThor blockchain technology been applied?A: The VeChainThor Blockchain technology has been mainly integrated into the product traceability solutions and digital marketing solutions MFG developed for its enterprise customers. In some use cases, the products are each assigned a QR code representing a unique ID on VeChainThor Blockchain, which enterprises can then keep track of the lifecycle of the products and formulate marketing plans on a case-by-case basis, all while allowing end-consumers to access the product information necessary for them to make better purchasing choices.Q: How does MFG empower its clients through the VeChainThor blockchain?A: For our clients, one of the most urgent and imperative issues that they need to tackle is anti-counterfeiting. The traditional solutions adopted are physical anti-counterfeiting techniques, which have proven to be inadequate, thus people turned to digitalized solutions, however, it turned out that the digitalized solution also has its own Achilles’ heels: insufficient data security and unsatisfactory data encryption techniques, etc. So, we introduced blockchain technology. Empowered by the technology, the data of the products are updated and stored on the blockchain, thereby achieving full traceability and guaranteeing authenticity. The blockchain-based solutions are well-received by our clients.Another area that blockchain technology will have a role to play lies in achieving marketing integration, for example, the joint marketing events co-conducted by FMCG brands.So basically, the VeChainThor blockchain enables us to empower our clients through achieving anti-counterfeiting and marketing integration.Q: In the next stage, what is MFG’s plan for VTHO consumption on VeChainThor blockchain?A: With the development of blockchain technology, we can expect wider acceptance from the mainstream, which will lead to a growing number of companies, especially the leading companies, to be involved in Blockchain-based solutions. And that will give rise to new demands for the technology, for example, VeChainThor might be needed for collaboration-based marketing scenarios to achieve higher data security. We’re looking forward to facilitating this process and achieving a win-win result for all.Q: Towards members of the VeChain community that are interested in this project, is there anything you would like to say to them?A: I’d like to say that in the future, you will find more and more products having their own unique digital ID as a marker of their identity in the market. At this stage, the products are mainly marked by QR codes. In the future, however, products might be marked by NFC chips. It can be expected that one day everything in our life will be interconnected, which will present a brand new market for blockchain technology and blockchain-based solutions. Let’s work together to make that day come sooner!Founded in 2016, MFG is an inspiring example of how Blockchain technology can be leveraged to empower supply chain management and marketing integration. With Blockchain-based solutions, enterprises can ensure the authenticity of their products, directly manage information from once indirect customers, and identify new potential markets.Empowered by VeChainThor Blockchain technology, MFG provides a highly configurable SaaS solution, including unique digital ID management, WeChat Mini Programs, and Big Data Analytics — with a timeframe of just 6 weeks for implementation.The solutions developed by MFG have already been adopted by over 60 brands from a wide range of industries such as alcoholic beverages, auto aftermarket, industrial goods, food services and more, reaching out to more than 300 thousand active retailers with an 80% scan rate. As of now, MFG has serviced its clients in over 10 billion business transactions.To view more information about MFG, please visit: https://madeforgoods.com/en/This is the second article within the “Partner Update Series.” We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases these partners are implementing on the VeChainThor main net includes energy, supply chain management, retail, digital certificates, food, and beverages. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.*To learn more about VeChain’s blockchain-powered retail solutions and use cases, please visit https://www.vechain.com/solution/retail.For more information about VeChain’s blockchain-powered logistics solutions and use cases, please visit https://www.vechain.com/solution/logistics.Partner Update and Spotlight Series: MadeforGoods was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 07. 02
VeChain Financial Executive...
We are excited to present the seventh VeChain Foundation Financial Executive Report. This financial report covers Feb 2019 through Apr 2019. In this period, VeChain Summit 2019, the First Global Developer Conference of VeChain, was held in San Francisco. Themed as “Creating Valuable Transactions”, VeChain Summit 2019 enabled the attendees to form a deeper understanding of how blockchain empowers the real economy and displayed what VeChain has achieved together with its partners from across the industries.As always, we sincerely welcome the community to hold us to the commitment of transparency, the rigorous monitoring, and usage of funds, and the development process of all aspects within the VeChain Foundation.The report structure is as follows:1. VET Supply Overview2. VeChain Foundation Expenditure (use of proceeds)3. Notesi) Enterprise Investor Poolii) Co-Founders, Development Teamiii) The Operation, Technological Research and Developmentiv) Business Developmentv) Compliance & Legalvi) Ecosystem Development1. VET Supply OverviewTo continuously improve the financial reports and accurately reflect the VET distribution, we decided to breakdown the VET Circulating Supply and Soft-lockups. In the previous financial reports, the soft-lockup was contained in the Circulating Supply, however, this portion was not moved to the market during the reporting period. The soft-lockup categories are as follows:Authority Masternode collateral — each Authority Masternode keeps at least 25 million VETsX Nodes staking — each X node keeps a minimum amount of VET based on four different tiersEconomic Nodes staking — each economic node keeps a minimum amount of VET based on three different tiersTeam Lockup — According to the whitepaper 5% of the total VET supply is allocated to co-founders and development team, and this pool is released quarterly over a two year period. However, the executive team as well as part of the team members have been voluntarily locking their allocated tokens to show the commitment to VeChain’s long term success.Note: The VET total supply on the VeChainThor Blockchain is 86,712,634,466.2. VeChain Foundation Expenditure (use of proceeds)We summarized below the USD value of the expenditure in fiat or BTC/ETH for the reporting period. For the spending in BTC or ETH, the USD value was booked based on the rate when the transaction occurred. In many situations, our service providers and partners prefer to receive VET as direct payment or investment compared to using fiat or BTC/ETH. Therefore, the total expenditure for operation, technological and business development comprises a combination of direct VET payment and use of proceeds (fiat, BTC/ETH) depending on the associated parties’ preference.The expenditure of this period increased as we held the first VeChain Summit on April 18 at San Francisco and officially released ToolChain.3. Notesi) Enterprise Investor PoolAs the crypto market rebounded at this period, quite a few venture capitals initiated contact with us. We continued evaluating the offerings on hand and are looking for institutional partners who could bring fundamental change, or value, to the long term development of the ecosystem. While most of our business partners acquire VETs on the open market, 50 million VET were purchased from this pool by our strategic institutional partners who are looking at holding the VET for their long term purposes.ii) Co-Founders, Development TeamIn this period, the Foundation distributed 510 million VET as seventh quarterly rewards to the team. During this reporting period, 3 full-time employees joined us in VeResearch, project management and product team. As we are getting closer to the one year anniversary of the VeChainThor mainnet launch, under the leadership of Flora Wang, our Chief Human Resources Officer, we have been continuously optimizing the performance review and incentive program to support the long term success of the project.Same as previous periods, the executive team will continue locking up 100% of their rewards gained in this period. In addition, part of the team members opted to lock up their allocated token to show the commitment to VeChain’s long term success. In total, out of the portion allocated to the team in this quarter, about 373 million VET was locked up voluntarily after being released from the Foundation reserve.iii) The Operation, Technological Research and DevelopmentDuring this period and especially in the VeChain Summit, several products were announced to the public, highlighting our achievements and development.At the first VeChain Summit, themed as “Creating Valuable Transactions”, we unveiled multiple one-stop enterprise-level blockchain solutions such as VeChain ToolChain, HSM Based Key Escrow Turnkey Solution, and VeKey Based Threshold Signature Turnkey Solution. The launch of these solutions will further VeChain’s effort to facilitate the digital transformation of the real economy.We also announced VeChainWorld which includes an application hub, developer information center, and developer forum. With the launch of VeChainWorld, users and developers will have a one-stop source to find applications and useful information relating to VeChain, and even communicate with other ecosystem builders.The VeChainThor Wallet v1.4 was released during this period. We have added the VeChain Application Browser so that users can access VeChain Applications on the go, as most people prefer to access applications on their smartphones than desktops.VIP191 — designated gas payer, a critical technical improvement to the multi-party payment protocol was introduced to further enhance the dApp user onboarding experience.iv) Business DevelopmentOn April 18, the first VeChain Summit was successfully held in San Francisco. In attendance of the VeChain summit were business service providers representing clients which amounted to over 100,000 globally, covering the vast majority of Fortune 2000 companies. The conference boasted over 350 developers and scholars, over 50 business decision makers, government officials, and investors from all over the world.VeChain team also managed to sign a few renowned partnerships which will lead to more enterprise blockchain applications on the mainnet.During this period, Deloitte Blockchain EMEA Blockchain Lab opted to migrate DNV GL’s blockchain solution, which secures the certificate issuance process for business assurance, from Ethereum to VeChainThor blockchain.Announced partnerships and collaborations (Feb 2019 — Apr 2019 )Reebonz Holding Limited (Feb 28)Haier (Apr 1)Norway in a Box (Apr 8)Highlights from the community and marketing events (Feb 2019 — Apr 2019)Sunny Lu delivered a speech of “Next Decade — Blockchain Development” at “Who’s the prophet” hosted by ChainDD (Feb 7)Sunny Lu attended the “Emerging Tech Exchange at the AT&T Pro-Am” hosted by PwC, and shared observations and opinions on the integration of business and blockchain technology (Feb 8)Mystory™, DNV GL and VeChain cooperation project, was featured in a news segment on Rai-Radiotelevisione Italiana channel 1 (Feb 19)General Manager of SE Asia & Australasia, Sarah Nabaa attended “Japan-Singapore Partnership Programme for the 21st Century”, and delivered a speech of “Next Decade — Driven by Business Value” (Feb 22)Sunny Lu and Renato Grottola, member of VeChain Foundation Steering Committee and senior vice president of DNV GL were interviewed by Le Fonti, a live streaming television on the growth of Blockchain technology and its impact on business (Mar 6)VeChain US country manager, Jason Rockwood attended the sixth MIT Bitcoin Expo, and was interviewed by CryptoLiveLeak on VeChain’s IoT solutions, the very first VeChain summit and business cases (Mar 10)Sunny Lu attended OceanEx’s meetup at Amsterdam, Netherlands, and shared his opinion on blockchain technology (Mar 13)Kevin Feng attended the blockchain & fund matchmaking hosted by Fenbushi Capital, and delivered a speech of “Blockchain Applications Enable the Real Economy” (Mar 14)Kevin Feng attended the Innovation Hub Salon adopting the theme “Blockchain Today” hosted by ThirdBridge, and delivered a speech of “The present status and trend of public blockchain” （Mar 15）Sunny Lu attended the opening ceremony of DNV GL artificial intelligence research center in Shanghai, and delivered a speech on the cooperation in blockchain ecosystem and business application between DNV GL and VeChain (Mar 18)VeChain US country manager, Jason Rockwood was interviewed by Go CrptoWise on community’s value to VeChain (Mar 25)VeChain was awarded as the most influential public blockchain in 2018 jointly issued by Mars Finance, Consensus Lab and VBLOCK (Mar 28)Sunny Lu attended SUM 03 summitt, and share his opinion on blockchain development, how blockchain will affect the world and our daily life (Apr 6)Sunny Lu attended the 68th meeting of the United Nations Economic Commission for Europe and shared his opinion on how blockchain’s role in the city sustainable development (Apr 10)The very first VeChain summit held at Ford Mason (Apr 18)General Manager of SE Asia & Australasia, Sarah Nabaa attended “ACCA Smart Finance Series” jointly hosted by ACCA, PwC, Insead EMI, and introduced the MyStory™, DNV GL and VeChain cooperation project (Apr 23)VerifyCar, BMW and VeChain cooperation project, was featured in a news segment on Cointelegraph (Apr 30)v) Compliance & LegalDuring the launch of the VeChain ToolChain, we engaged legal, cybersecurity and privacy experts to perform risk assessments, to make sure that the solution is ready for commercial usage, up to industry standards and also able to address concerns from business clients and users. As usual, before releasing the VeChainThor wallet v1.4 update, we engaged SlowMist to audit the security of the added functions.vi) Ecosystem DevelopmentDuring this period we had our first successful VeChain Application Development Challenge. The development challenge aids our desire to enable developers and startups in the ecosystem to create valuable transactions. 22 applications built on the VeChainThor blockchain were submitted for the challenge in the categories of business, social media, entertainment, utilities, and finance, and finally 9 applications were picked as the winners of the challenge. For details please refer to Winners of the First VeChain Application Development Challenge.VeChain Financial Executive Report Vol. 7 was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 06. 26
Walmart China Takes on Food...
The Walmart China Blockchain Traceability Platform Launching Ceremony(June 25, 2019, Beijing) On June 25, in combination with Walmart China, China Chain-Store & Franchise Association (CCFA), PwC, Inner Mongolia Kerchin Co., Ltd., and VeChain, the Walmart China Blockchain Traceability Platform, built on the VeChainThor Blockchain, was announced at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar. This seminar was jointly organized by Walmart China and the CCFA in Beijing.The announcement of the Walmart China Blockchain Traceability Platform came with the introduction to the first batch of 23 product lines that have been tested and launched on the Platform. The Platform is expected to scale by another 100 product lines by the end of the year covering more than 10 product categories including fresh meat product, rice, mushrooms, cooking oil, etc. It is expected that the Walmart China’s traceability system will see traceable fresh meat account for 50% of the total sales of packaged fresh meat, traceable vegetables will account for 40% of the total sales of packaged vegetables, traceable seafood will account for 12.5% of the total sales of seafood by the end of 2020.Read official announcement from Walmart ChinaVeChain’s blockchain technology is enabling Walmart China to implement a traceability strategy for products and pioneer the large-scale application of blockchain traceability. By scanning the desired products, customers can acquire detailed information, including the source of the scanned products and geographic location received by Walmart, logistics process, product inspection report, and many more data points. Data collection and data availability are to be continually added to the scale of the platform and its use of blockchain technology.THE WALMART CHINA BLOCKCHAIN TRACEABILITY PLATFORM SIGNING CEREMONYThe Walmart China Blockchain Traceability Platform signing ceremony took place at the 2019 China Products Safety Publicity Week Traceability System Construction Seminar. The partners in attendance are represented by:Mr. Pei Liang, President of CCFAMr. Chu Dong, Vice President of CCFAMr. Shi Jiaqi, Chief Corporate Affairs Officer of Walmart ChinaMr. Yang Weizhi, Managing Partner of PwC China Strategy and InnovationMr. Kevin Feng, Chief Operating Officer of VeChainMr. Liu Xiaoen, Chief Procurement Officer of Walmart ChinaMr. Chen Mingzhi, Chief Ethics Compliance Officer of Walmart ChinaDr. Yan Zhinong, Executive Director of Walmart Products Safety Collaboration CenterMr. Li He, Chairman of Inner Mongolia Kerchin Co., Ltd.VeChain’s COO, Kevin Feng (in the middle) at the Walmart China Blockchain Traceability Platform Launch Event together with Yan Zhinong, Executive Director of Walmart Products Safety Collaboration Center, Chudong, Vice President of CCFA, Li He, Chairman of Inner Mongolia Kerchin Co., Ltd.As part of the event, the signing ceremony attendees conducted a discussion on how to share responsibilities and use technological innovations to guarantee the quality and safety of products and edible agricultural produce, boost consumer confidence and satisfaction, and contribute to the upgrading of service consumption.Kevin Feng, Chief Operating Officer of VeChain commented on the collaboration, said: “As the world-leading enterprise-public blockchain platform, VeChain aims to empower enterprises in the large-scale digitization process by providing safe and mature blockchain deployment solutions and promote the wide application of blockchain technology. We achieve this while putting forward new insights for the development of the businesses’ ecosystems. The launch of the Blockchain Traceability Platform by Walmart China, the world-class retail giant, is of great significance to the commercial application of blockchain technology. VeChain will work with Walmart China to actively take heed of the call of the government, by utilizing technology to promote the traceability of fresh food, and to provide innovative solutions for the traceability platform through digital technology, so as to generate more transparent and reassuring consumption experience.”Shi Jiaqi, Chief Corporate Affairs Officer of Walmart China, stated: “Walmart has always worked to provide reliable products of quality and convenient services to customers, which is our core value proposition. With this target in mind, Walmart has continuously invested in the whole supply chain, from source procurement and commodity strategy, supply chain construction, to store and e-commerce platform operation management. We use digital methods to improve efficiency and transparency, providing products and services of quality to customers and making life better for busy families in China. ”Elton Yeung, Strategy and Innovation Leader, PwC Mainland China and Hong Kong, pointed out: “PwC’s mission is ‘building trust and solving important problems’, which is the top priority of PwC in providing professional services and making business decisions. In the face of food safety, how to build consumer trust is a problem that PwC, our clients and partners have been trying to solve. We believe that Walmart’s Blockchain Traceability System will be an excellent example of blockchain technology applied in the retail industry, helping to improve food safety and quality management, and providing a strong guarantee for building consumer trust.”REALIZING LARGE-SCALE APPLICATION OF BLOCKCHAIN TECHNOLOGY AND PROMOTING PRODUCT TRACEABILITY IN THE RETAIL INDUSTRYAs a retailer trusted by consumers, Walmart has been devoted to improving food safety and quality management, and VeChain’s blockchain technology will enable it to take the lead in traceability management among retail peers. Walmart China has pioneered the large-scale application of traceability platform based on the VeChainThor Blockchain, giving priority to products of high-concern and high-risk. The first batch of 23 product lines have been tested and implemented using the public blockchain platform with more than 100 product lines following in the second half of this year, covering more than 10 categories.The first batch of 23 product lines are live on the Walmart China Blockchain Traceability PlatformDomestic customers are proposing higher demands on food safety, digitalization of food traceability will help suppliers to increase their brand value and win their consumers’ trust. Walmart China expects the use of the platform to continue to grow in scope, accounted scales, and geographic implementation. As the platform continues to expand, more categories of food will be traceable and thus the value transfer will be further expanded in the industry reflected on the VeChainThor Blockchain.Through the technical support of PwC and VeChain, Walmart China has built the proprietary food safety traceability platform on the VeChainThor Blockchain. Participants in the supply chain will share their portion of data, and promote the visibility and management efficiency of the whole chain by utilizing the decentralized and tamper-proof blockchain technology. This platform enhances the transparency of product information, ensures the authenticity of product data, and boosts the trust of their consumers. In the future, the Walmart China Traceability Platform shall adopt multilateral cooperation, synchronizing data from local governments’ traceability platforms and suppliers’ own platforms, so as to provide customers with safe and high-quality products, all on the VeChainThor Blockchain.About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco.Together with our strategic partners PwC and DNV GL, we have established cooperative relations with many leading enterprises in different industries, including BMW, BYD Auto, Haier, Brightfood Group, D.I.G, DB Schenker, PICC, etc.For more information about VeChain, please follow our twitter @vechainofficial or visit our official website https://www.vechain.com/News inquiries:Noah HuoChief Marketing Officer at VeChainEmail: email@example.comYvette XiaPublic Relations Director at VeChainEmail: yvette.xia@VeChain.comRyan ZhengSenior Director of Public Relations at Walmart (China) Investment Co., Ltd.Email: Ryan.firstname.lastname@example.orgWendy LiDirector of Public Relations at Walmart (China) Investment Co., Ltd.Email: Wendy.email@example.comWalmart China Takes on Food Safety with VeChainThor Blockchain Technology was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 06. 25
Partner Update and Spotligh...
Partner Update and Spotlight Series : iTaotaokeAs the one year anniversary of the VeChainThor Blockchain launch rapidly approaches, we wanted to update the community on the progress of some of the unsung heroes in our ecosystem. Every partner and stakeholder in our ecosystem is vital to the success of the entire blockchain ecosystem and it is our intention, pride and honour to shine a light on our partners and stakeholders who have been steadily building and consuming value built on top of the VeChainThor blockchain.To provide a spotlight for these vital partners, we’ve developed this series as a Q&A, interview type format. Our partners and stakeholders, in their own words, will share and talk about their experiences using and building on top of the VeChainThor Blockchain as well as the impact, struggles, and value added to their own business ecosystem when implementing this technology within their business model. We start this series with iTaotaoke.As one of our initial partners, iTaotaoke has successfully implemented and made blockchain technology valuable in the area of copyrighting digital content. iTaotaoke’s innovative platform not only offers an open platform where both self-publishers and content providers can build their knowledge sharing workshops while monetizing their content, they are also, at the same time, able to protect and secure the rights of their intellectual property of which what makes them valuable — their culmination of wisdom, knowledge, and experience. Get a firsthand view of the iTaotaoke and VeChain partnership here.“VeChain is a really friendly public blockchain platform. It provides us a complete and mature blockchain solution and diverse ecosystem. So far, there are over 3,000 original content creators on the iTaoTaoKe platform. These content creators have created and published over 30,000 articles. We have also gained over 70,000 subscriptions and over 160,000 views and the number is increasing at a significant speed. As a young company, we approximately consume 2.8M VTHO per month and I strongly believe that the demands of acquiring and using VTHO for us at iTaotaoke will increase quickly while more and more digital content creators begin to join the platform. We hope to invoke the VeChainThor Blockchain’s full potential to become a shield of copyrights for all the craftsmen of knowledge. ”— — Jie Zhou, CEO of iTaotaokehttps://medium.com/media/ea424f226f2615f588d4d91ef4bd8e69/hrefBelow is an excerpt and highlights of the video interview.Q: Who is iTaotaoke?A: iTaotaoke is an open public platform for digital media and content. All of the “craftsmen of wisdom” who have original lessons or works use iTaotaoke to publish their lessons, articles, videos, and more. Under the shield of blockchain copyrights technique, creators use the TaoTaoKe’s online store, to quickly gain profits from their work. To view more information about iTaotaoke, please go to our official website http://www.itaotaoke.com.Q: Why did you choose the VeChainThor Blockchain?A: First, the VeChainThor Blockchain is truly an enterprise-friendly public blockchain platform. It provides reliable, applicable blockchain-based solutions perfect for our individual use case. In the VeChain ecosystem, ecosystem members are able to access a variety of different resources.. For example, in the digital carbon ecosystem which iTaotaoke has been enrolled into, digital content posted on iTaotaoke’s platform is able to be connected with content from other participants of the digital carbon ecosystem, creating tremendous synergistic values.Q: Which business area of iTaotaoke has VeChainThor blockchain technology been applied?A: VeChainThor is already integrated into iTaotaoke’s platform, providing real solutions to our clients and tangible results in its ability to protect digital IP, that would be impossible without the technology.Our partnership is mainly focused in achieving copyright authentication of contents with the implementation and integration of the VeChainThor blockchain. Most of our clients provide online education lessons and courses, Which is a field where originality is extremely important. When the contents are posted on the Internet, piracy becomes a major problem. Our clients hope that we could use technology to assist them in resolving this unavoidable issue. VeChainThor is already deployed and active on iTaotaoke, providing real solutions to our clients and tangible results that is able to protect digital IP that is not possible without VeChainThor. That’s why VeChainThor’s blockchain technology and digital intellectual authentication is a perfect combination.Q: How does iTaotaoke empower its clients through the VeChainThor blockchain?A: The most important element of digital content is its originality. When original work is published online, , illegal and fake versions of it can be a significant challenge. iTaotaoke supports their original creators by using the copyrights feature based on VeChainThor techniques, leveraging the immutability of blockchain to sign copyrights for each creator, protect the rights that every original creator should have. http://www.itaotaoke.com/helpCenter/pages/qa/index.html#/knowledge/copyrightQ: In the next stage, what is iTaotaoke’s plan for VTHO consumption on VeChainThor blockchain?A: We believe that as more digital content creators join iTaotaoke’s digital platform, our demand for VTHO will no doubt continuously increase. With the implementation and power of the VeChainThor blockchain, we will strive to provide protection for more digital content creators.Q: Towards members of the VeChain community that are interested in this project, is there anything you would like to say to them?A: Firstly, thank you to the VeChain community members who have been following up the news with the iTaotaoke project. Ever since we have started to work with VeChain,We have been continuously trying to discover more use cases to be developed, including our cross-sector cooperation with VeChain’s digital carbon ecosystem. As the mission of iTaotaoke states, “Connect everyone through knowledge.” We hope that through the transmission of knowledge, we get to connect with more partners in the blockchain ecosystem and achieve greater heights and win-win scenarios.iTaotaoke is a successful use case that applies the technology of the VeChainThor public blockchain into the area of copyrights of digital content. We applaud and praise iTaotaoke for their efforts to transform their business ecosystem with the power of blockchain and look forward to even more value built and consumed on the VeChainThor blockchain by our partners.This is the first article within the “Partner Update Series.” We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases these partners are implementing on the VeChainThor main net include energy, supply chain management, retail, digital certificates, food and beverage. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.*To learn more about VeChain’s blockchain powered copyrighting of digital content as highlighted in this article and use case as well as other forms of intellectual property protection solutions, please visit https://www.vechain.com/solution/digital.Partner Update and Spotlight Series : iTaotaoke was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 06. 20
Introducing the VeChain Acc...
With an aim of “Creating Valuable Transactions”, various stakeholders, including VeChain Foundation, developers, enterprises, venture capitals, VET holders and academic institutions, contribute to and benefit from collective value creation through the development of the ecosystem. Individual developers and startups play an important role in the ecosystem built around the VeChainThor Public Blockchain, and as the key enabler VeChain Foundation will provide various methods of support to drive developer success.dApps have been a hot topic since the industry entered the smart contract era, but many dApp developers, who usually start their project with ecosystem funding support, are struggling to find sustainable business models for their projects. We want all parties in the VeChain ecosystem to become a self-sufficient business and this means there is a need for a lot more than initial funding support. Therefore, following the bounty program, the VeChain Accelerator Program aims to provide the support needed as projects progress to becoming a successful business built on the VeChainThor Blockchain. The Accelerator Program not only includes a grant but more importantly it provides the accepted projects with exposure to the resources in the ecosystem, ranging from business leads, incubation, investment opportunities, market awareness, technical support, and professional services. VeChain Foundation is committed to working with its partners within the network to support the projects at various stages.WHO IS ELIGIBLE TO APPLY?Individual developers or startups that are already working on a project and wish to build the solutions on the VeChainThor Blockchain aiming for mass adoption and creating valuable transactions. To be accepted in the Accelerator Program, a project should have assembled a team, formalized the project plan, and developed a PoC preferably, an alpha release.If a project is deemed to be not ready for the accelerator program, the program administration team will assess and choose to grant a starter reward for the project to move forward and apply for the Accelerator Program again at a later stage.Projects which raised funds through a token issuance are not eligible for this program. However, projects may choose to raise funds through a token issuance or STO at a later stage after being accepted by the program.WHAT TYPES OF PROJECTS WE ARE LOOKING FOR?As the key enabler of the VeChain ecosystem, the Foundation sees projects in certain areas more valuable based on the development status of the ecosystem. However, these areas should be seen as guidance, we encourage developers to suggest their own applications which you deem will create valuable transactions for the ecosystem.Based on the current status of the VeChain ecosystem and Foundation’s strategy, we look for projects that fit the criteria such as:Provide smooth user experiences and target at the broader mass than just crypto communitiesCreate a new business model to solve the real-world economic problems utilizing the blockchain technologyAdd value to existing businesses by enhancing the operational efficiency and reducing costsApplications that tokenize virtual or physical assets, decentralized ownership of the assets or data, and facilitate value exchangeOpen infrastructural solutions such as DeFi that modularize financial primitives to provide the robust layer that can be used by the applications running on the VeChainThor BlockchainWHAT’S THE SIZE OF THE GRANT? HOW ARE THEY PAID?VeChain Foundation will provide a grant of 3K — 30K USD the majority of the time, in VET, while exceptions can be made individual cases. This is a grant and not an investment. And in principle, the grant is paid in tranches based on milestone achievements. Developers can request the amount and payment methods in the application, but the VeChain Foundation ultimately reserves the right to choose.Projects that are not accepted in the program may be entitled with a starter reward package worth up to 1,000 USD in VTHO based on the assessment of the program administration team.The Accelerator Program is much more than a grant, however.WHAT ARE OTHER WAYS ACCELERATOR PROGRAM MEMBERS WILL RECEIVE SUPPORT?In addition to the grant, our developer accelerator program aims to provide various methods of support needed for a project to become a self-sufficient business. We can offer support in the following areas throughout the project development at proper stages:Incubation services, we work with multiple incubators around the world, such as CREAMethod, Tribe, or LongHash, which work to help projects find working space, public exposure, community management, and funding.Investment opportunities, we will present the projects in this program to our VC partners, such as Fenbushi Capital and Draper Dragon, who may invest capital or strategic resourcesBring business leads to you by leveraging VeChain enterprise partner networks. VeChain’s network can build client pipelines that take your technology to real life adoptionDirect access to the core tech team and early access to the technologies and turnkey solutions developed by VeChainMature projects may conduct utility token issuance or STO on the VeChainThor Blockchain under the advisory of ecosystem partners in the jurisdictions of VeChain’s government partnersVeChain Bounty Programs such as VeChainThor Supercharger are also available to support a project in user adoptionGo international, using VeChain’s global network to help you expand new marketsPublicity by promotion on social media, VeChain’s media partners and eventsLast but not least, VeChain Foundation would invest its expertise and resources to provide standard professional service support from HR and legal perspectiveAPPLICATION AND EVALUATION PROCESSStep 1: Preliminary evaluationApplications should be submitted through the online form. Projects that are rejected in the evaluation can re-apply at a later stage as you deem appropriate based on the received feedback.The preliminary evaluation will be conducted by the program administration team, who will review the application, a high-level investigation into the state of the project and background of the team. An interview with core team members is expected at this stage to better understand the project and get to know the team.The originality of the idea and nativeness on the VeChainThor BlockchainTechnical features and value propositionThe background and experience of the team and the development capabilityValue to the VeChain ecosystemPlan for product development, user acquisition, and expansionThe progress that the project made so farThe preliminary evaluation takes two weeks, the program administration team will notify the applicants whether their project enters the final evaluation.Step 2: Final evaluationThe final evaluation will be conducted by the program committee, a team consisting of VeChain core team, steering committee members, representatives from VeChain’s enterprise, VC and incubator partners. This evaluation will review the summarized results of the preliminary evaluation and focus on the project’s go to market plan and technical development roadmap. The committee may invite the applicants to parts of this discussion for the purposes of further review and examination.Again, applications should be submitted through the online form. Projects that are rejected in the evaluation can re-apply at a later stage as you deem appropriate based on the received feedback.WHAT SHOULD THE APPLICATION DESCRIBE?While we understand that each project will have unique properties to underline and stress, all applications will benefit from addressing the following unambiguously:The project’s goal and scopeTechnical features and value propositionBackground and experience of the teamThe project, timelines, targeted deliverables at each milestone, estimated effortsThe amount of funding requested and payment methodGo to market strategy and user acquisition planHow the project benefits the VeChain ecosystemAn executive summary and a pitch deckProjects that passed the final evaluation will be published via an introductory post in the VeChainWorld forum.Check out the Developer Information Center for technical documentation and Official Gitter Developer Channel to find the development resources. Please make sure you have read and agree to the rules of VeChain Accelerator Program. For any question, please contact firstname.lastname@example.org.APPLY NOW!!!
19. 06. 07
VeChain Attended the China ...
“The booming of next-generation information technologies, such as big data and artificial intelligence, will cast a profound and far-reaching influence on the economic development, social progress and people’s lives of all countries. China attaches great importance to the development of big data industry and is willing to share the opportunities of digital economic development with other countries, and build up new growth momentum and development paths by exploring new technologies, new formats, and new models.”— — President Xi Jinping In The Congratulatory Letter To The Big Data ExpoOn May 26, the China International Big Data Industry Expo 2019 kicked off in Guiyang, capital of Guizhou Province. The opening remarks were delivered by Wang Chen, Vice Chairman of the National People’s Congress of China. In recent years, Guizhou has regarded the development of the Big Data industry as its priority. The expo, which is co-hosted by the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Cyberspace Administration of China and Guizhou Provincial People’s Government, is a national level event focusing on exploring industry frontiers, building win-win cooperation, and providing an international platform of interaction, presentation, and promotion.On May 27, Mike Zhuang, Chief Strategic Officer of VeChain, attended the Big Data Expos International Green Finance and Technology Innovation Forum with Luca Crisciotti, CEO of DNV GL Business Assurance, and George Kang, CEO of DNV GL Business Assurance Greater China, and had an in-depth discussion with Dr. Wang Ning, Senior Researcher of Oxford University, Mr. Alastair Marke, Director-General of the Blockchain & Climate Institute, and others on how fin-tech can be leveraged to empower Green Finance.As UN Secretary-General Guterres put in his congratulatory letter to this conference, “Big Data has great potential to accelerate the achievement of Sustainable Development Goals”, however, there is a long way to go before potential can be turned into reality, and it takes various technologies, including blockchain, to achieve the goal. To facilitate the process, VeChain joined hands with DNV GL in developing the blockchain-based Digital Carbon Ecosystem.“Digital Carbon Ecosystem is the first project that introduced blockchain-based economic incentive, or carbon credits, to encourage carbon reduction. Building a Digital Carbon Ecosystem is a challenging task for all participants, and it takes the joint effort of us all to achieve SDGs.”— — Luca Crisciotti, CEO of DNV GL Business AssuranceAs a panelist, Mike attended the 2019 Global Blockchain Technology Development Forum of the Expo on May 28, and exchanged thoughts with his peers from major actors in the industry, such as Huawei, Alibaba, and Huobi, on the relationship between Blockchain and Digital Economy. Mr. Zhuang said, blockchain provides a new impetus to the development of the digital economy, however, exploring more application scenarios remains the key to the success of blockchain development, and VeChain will carry on its unremitting efforts for the mass adoption of the technology.“For the time being, Blockchain is still at its infant stage, be it technology wise or application, it’s too early to talk about killer apps. We shall get down to earth and lay a solid foundation for future development. From my perspective, many startups in the industry are going in the wrong direction and dedicated too much to technology and TPS, however, without sufficient application scenarios, high TPS means nothing.”— — Mike Zhuang, Chief Strategy Officer of VeChainIn an era when the whole world is attaching greater importance to innovation and the application of state-of-the-art technology, a boom of new technologies, including blockchain, is within expectation. VeChain will work closely with our partners, such as DNV GL, to accelerate the process and thereby bolstering digital transformation and empowering the real economy through blockchain technology.About Big Data ExpoLaunched in 2015, the Big Data Expo has seen four successful runs. Specialized and market-oriented, the world’s first big data-themed expo has become a trendsetter of global big data industries and the most authoritative and “international” industry sharing platform. In 2018, the Expo received over 120,000 visitors; its 60,000m² Exhibition featured 388 domestic and foreign entities. The expo has also been given equal attention by the social sectors, as the world’s most influential entrepreneurs, experts, scholars, statesmen, delegates of international organizations and research institutes, and media professionals have gathered together to share the new opportunities of the big data era.VeChain Attended the China International Big Data Industry Expo 2019 was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 05. 28
Cupids Farm Milk, Produced ...
Cupids Farm Milk, Produced by Bright Food, Became the First Product to Go Live On BrightCode, a VeChainThor Blockchain Solution to Be Used By MillionsPic of Cupids Farm Milk ProductOn November 9th, 2018, BrightCode Commodity Confidence Index Platform (BrightCode), built upon the VeChainThor Blockchain public blockchain, made its debut at the China International Import Expo. From then on, VeChain has been working with its enterprise partner, Bright Food, to iterate and improve the solution. Today, we’re excited to announce that the “Cupids Farm” milk brand, produced by Bright Food, became the first of many food and beverage products to go live on the BrightCode platform. This monumental step forward paved the way for Bright Foods to integrate the VeChainThor Blockchain into their entire inventory and supply chain use case by use case.Cupids Farm milk is available in the marketIntroduced by Shanghai Xiandao Company of Bright Food (Group) Co., Ltd, BrightCode is a blockchain-based commercial ecosystem built upon the Partner Version of the next generation BaaS platform — VeChain ToolChain. By taking advantage of the authentic data collected by IoT devices and services provided by accredited third parties, namely, DNV GL and PICC, BrightCode serves to create a brand new business model that combines the strengths of IoT, blockchain, and third-party assurance.With BrightCode, companies are enabled to monitor the entire lifecycle of their products and collect data in a real-time, all data collected will be verified and stored on the VeChainThor Blockchain. This process ensures and proves that all products provided to the consumers through the platform are of a guaranteed quality, bridging the trust gap between producer’s efforts and consumer’s concerns. In addition, powered by AI and big data, the authentic data collected by BrightCode can help the companies better understand customers’ real demand, and in turn, facilitates the decision-making process.After scanning the QR code on the bottle, users will be directed to BrightCode platform, where they’ll be presented with the key data in the lifecycle of that bottle of milk, such as where it was produced, the environment of the dairy farm, the production techniques adopted, and more. With DNV GL, an accredited certification body’s verification of the source data and tamper-proof blockchain technology, we can rest assured that all data stored on the VeChainThor Blockchain is authentic, and in turn prove to the consumers that what they see is what they get.Bright Code Index of Cupids Farm MilkIn the future, BrightCode will be further promoted to other application scenarios outside of food and beverage to industries such as auto parts and healthcare. Combining the strengths of blockchain and the resources of the third-party certification body, real economy sector enterprises, and insurers, BrightCode contributes to solving the trust issue in consumer relations, be it arising from information asymmetry, insufficient data or lacking regulation. With BrightCode, we can restore trust and build a new business ecosystem where every stakeholder profits and complements each other.To use VeChain ToolChain for business scaling, please visit https://www.vechain.com/product/toolchain, you can also contact the professional VeChain ToolChain consultant for personalized development advice at email@example.com.Have your own bottle of “Cupids Farm” milk and try out the Bright Code Commodity Confidence Index PlatformBright Food Suixinding (online store)光明随心订A Number of Bricks and Mortar Stores of Niupeng Milk House门店分布_上海牛奶棚食品有限公司Tenderness (Bricks and Mortar Store)Tianping Road 318, Xu Hui District, Shanghai
19. 05. 18
VeChain and DNV GL Attend V...
On May 16–18, Viva Tech, the world’s rendezvous for startups and leaders, will be held in Paris to celebrate innovation. This year’s event is expecting 100,500 attendees from 125 countries, 9,000 startups, 1,900 investors, 1,900 journalists and 450 top speakers and exhibitions to open innovation and live experience. During two days, VC funds such as Accel Partners, Softbank Vision Fund, Atomico and Partech or Corporate VCs as Samsung or Orange Digital Ventures will dedicate their time to meet the best companies, like VeChain, and spot the future stars of the tech industry.Over the past years, VivaTech has gained an ever-increasing presence on the global stage with influential participants such as Emmanuel Macron, President of France, Eric Schmidt, former executive chairman of Alphabet Inc., Daniel Zhang, CEO of Alibaba Group, Mark Zuckerburg, CEO of Facebook, Satya Nedela, CEO of Microsoft, and Dara Khosrowshahi, CEO of Uber. This year, we’re excited to see Jack Ma, the Executive Chairman of Alibaba Group, included as a keynote speaker for the event, in addition to Ginni ROMETTY, Chairman, President & CEO of IBM, Margrethe Vestager, European Commissioner for Competition of European Commission.As a former runner up in 2018 LVMH Awards and current partner to LVMH brands, VeChain is honored to be invited to attend the event together with DNV GL and host a booth at Hall 1- M46 networking with business leaders and top investors from all over the world. On top of that, we’re proud to present My Story™, a blockchain-based digital assurance solution jointly developed by VeChain and DNV GL, and VeChain ToolChain, the next generation BaaS platform.My Story™, Share Your Authentic Product StoryMy Story™ is a solution already available in the market, that gives consumers access to the verified journey behind a product, based on facts and data stored in a public blockchain. Scanning the product, consumers can instantly dive into aspects of the product that interests them. From quality, social, environmental and ethical integrity features to the product background or how to consume or use it.Applicable to all manufactured or packaged good’s supply chains, the solution combines deep industry expertise, physical independent audits with data collection and verification services on a blockchain-powered eco-system. The blockchain technology acts as the perfect trust generator by virtue of the verified data immutably stored on it.My Story™ as a service helps companies with data collection, enterprise and product ID issuance, product story sharing, data verification, and data storage, and in turn, helps brands bridge the trust gap between their efforts and consumers’ concerns and assists them in building customer trust and loyalty.VeChain ToolChain, A Revolutionary Product that Enables Everyone Around the World to Implement and Use BlockchainVeChain ToolChain is the first commercial BaaS platform built on top of a public blockchain, it provides a variety of general interfaces to essentially eliminate the high technical threshold and substantially lower the costs for SMEs or even individuals in blockchain integration.Unlike the BaaS products on the market, ToolChain also includes a vertical blockchain application focusing on product life cycle management, which can be used as a SaaS solution or customized as a turnkey package.To meet the demands of the market, ToolChain is currently available in Standard Version, Developer Version, and Channel Partner Version, VeChain has even prepared a collection of suggested hardware devices to fully implement the solution and connect the software to the physical goods being managed.We’re looking forward to demonstrating the two products to all the audience attending the exhibition and help them to explore the marvelous blockchain-enabled world in person and see for themselves how blockchain is used to empower the real economy. These interactions will surely facilitate the adoption of the VeChainThor Blockchain, and blockchain technology as a whole, on a larger global stage.As a leading global enterprise level public blockchain platform, VeChain will stay focused on promoting the adoption of the VeChainThor Blockchain and continue to work with established enterprises, scholars, elite innovators, and developers to achieve steady and efficient growth and bring blockchain technology to our everyday life.DNV GL, one of the world’s leading certification bodies, will continually expand the ecosystem of partners to bring a wide range of innovative solutions to the market. Working with our customers and partners, DNV GL builds sustainable business performance and solutions, creating stakeholder trust across all types of industries.
19. 05. 15
Announcing the Official Add...
Announcing the Official Addition of the Historic Renji Hospital into the Digital Carbon Ecosystem and Norway in a Box Set to Go Live on Bright CodeOn May 13th, 2019, the Sino-Norwegian Cultural Exchange Day, a section of the 175th Anniversary Ceremony of Renji Hospital, was held in the East Division of Renji Hospital. Renji Hospital sees over 2.1 million emergency cases and outpatients, about 57,000 inpatients and over 28,000 operations every year in their more than 1,600 patient beds. On the occasion, Renji Hospital officially announced that it will join the Digital Carbon Ecosystem initiated by DNV GL and VeChain.With Renji’s inclusion, the users of Digital Carbon Ecosystem are allowed to book the quality medical care and customized medical checkup provided by Renji with carbon credits. This is just one of the latest efforts made by VeChain and its partners to add new application scenarios to the Ecosystem. Renji’s announcement was followed by Norway in a Box, a superior Norwegian product platform, declaring that their products will go live on the consumer confidence index platform, Bright Code.From left to right: Mr. Espen Strand Pedersen, President of Norway in a Box attended the ceremony; Mr. George Kang, Senior Vice President of DNV GL; Mr. Knut Roald Sørlie, Commercial Counsellor at the Royal Norwegian Embassy; Ms. Katrine Haukenes, Consul General at Norwegian Consulate General in Shanghai; Ms. Victoria Braathen, Director of Norwegian Seafood Bureau, China; Ms. Wang Yu, Vice President of Renji Hospital; Mr. Qian Chengcheng, Partner and Chief Commercial Officer of VeChainMs. Katrine Haukenes, Consul General at Norwegian Consulate General in Shanghai; Mr. Knut Roald Sørlie, Commercial Counsellor at the Royal Norwegian Embassy; Ms. Wang Yu, Vice President of Renji Hospital; Mr. Zhang Jidong, Vice President of Renji Hospital; Mr. George Kang, Senior Vice President of DNV GL; Mr. Per Askeland, Finance General Manager of DNV GL, Greater China; Mr. Qian Chengcheng, Partner and Chief Commercial Officer of VeChain; Mr. Tian Xinli, Project Director of VeChain; Ms. Victoria Braathen, Director of Norwegian Seafood Bureau, China; Mr. Espen Strand Pedersen, President of Norway in a Box attended the ceremony.Renji Signs with DNV GL, and VeChain, Further Expanding the Digital Carbon EcosystemThe signing ceremony kicked off with the opening remarks delivered by Mr. Knut Roald Sørlie, Commercial Counsellor at the Royal Norwegian Embassy, and Mr. Zhang Jidong, Vice President of Renji Hospital.Mr. Knut Roald Sørlie, Commercial Counsellor at the Royal Norwegian EmbassyMr. Knut Roald Sørlie said, Renji Hospital and DNV GL has lifted their cooperation to a higher level from certification business to building a digital carbon ecosystem. This agreement marks yet another major milestone in the cooperation between Norway and China in the field of health care. The Digital Carbon Ecosystem is an encouraging project that helps to achieve the UN’s sustainable development goals, and as he puts it, the first program that he’s ever seen applied by a medical institution to address climate change in adopting systematic carbon reduction measures.As Mr. Zhang Jidong explained, in the past 175 years, Renji has always put the patients first and have pioneered the adoption of daytime outpatient surgery, and the like, to promote medical efficiency and quality in an effort to reduce medical cost, making the most out of medical resources. The vision of Renji coincides perfectly with the idea of the Digital Carbon Ecosystem to encourage individual participation in carbon reduction and contribute the shift towards a cleaner future and a more sustainable lifestyle.The Digital Carbon Ecosystem Partnership Agreement was signed by Renji Hospital, DNV GL, and VeChain under the witness of Ms. Katrine Haukenes, Consul General at Norwegian Consulate General in Shanghai, Mr. Knut Roald Sørlie, Commercial Counsellor at the Royal Norwegian Embassy, and Ms. Victoria Braathen, Director of Norwegian Seafood Council.As a university hospital affiliated to Shanghai Jiao Tong University School of Medicine that integrates medical treatment, teaching, and research, Renji is one of the most prestigious and comprehensive hospitals in China. In a country where quality medical care is in ever-increasing demand, adding Renji will significantly bolster the future development of Digital Carbon Ecosystem. It’s not just the medical care but more about the role that Renji will play to serve as a stronghold for VeChain to reach out to a larger enterprise and commercial audience, bringing blockchain and the greener lifestyle to mainstream society.Digital Carbon Ecosystem Signing Ceremony (From left to right, Qian Chengcheng —Partner and Chief Commercial Officer of VeChain, Zhang Jidong — Vice President of Renji Hospital, George Kang — Senior Vice President of DNV GL)After the signing ceremony, the guests and attendees paid a visit to the International Health and Physical Examination Center of Renji Hospital.During the meeting, Ms.Wang Yu, Vice President of Renji Hospital, made a brief introduction to Renji Hospital. Founded in 1844, Renji Hospital is the first western hospital in Shanghai. Endowed with the Shanghai Spirit of openness and collaboration, Renji is willing to cooperate with players from across the industries. In recent years, Renji has attached more importance to its internationalization and has kept in touch with different countries from all over the world, including Norway, to keep itself abreast of the latest achievements of the medical world. Yu believes the event will help form a better understanding of the Norwegian culture among the staff and facilitate the hospital’s development on the global scale.Norway in a Box, A Representative of Emerging Norwegian Premium Product Platform, Announced Their Products Will Go Live on Bright Code.The Sino-Norwegian cultural exchange meeting, a session of the 175 Anniversary Ceremony of Renji Hospital, was supported by the Norwegian Embassy in China, Norwegian Consulate General in Shanghai, Norwegian Seafood Council, DNVGL, Norway in a Box, Renji Hospital and VeChain, and staged distinct culture of Norway, such as medical, tourism, and food.Ms. Victoria Braathen said: “The younger generations are paying greater attention to the health benefits of eating seafood, and they’re getting increasingly concerned about the origin of the product as origin often indicates quality. When choosing seafood, health and flavor are the two factors that the consumers consider the most. China is no doubt the world leader in adopting technology in e-commerce of food, fresh food, and seafood, to open up the market in China, it’s necessary for us to combine advanced technology with quality products.Ms. Victoria Braathen, Director of Norwegian Seafood Bureau, ChinaOn the occasion of Sino-Norwegian Cultural Exchange Day, Norway in a Box, a superior Norwegian product platform, declared that their products would go live on BrightCode, a blockchain business ecosystem built upon the next-generation BaaS Platform developed by VeChain — VeChain ToolChain.The quality services and products selected by Bright Code are verified by DNV GL, an independent third party, and graded by both industry experts and ordinary consumers, such data are stored on the blockchain and open for a query. Scanning the QR code or smart chip, consumers can access the data and learn about the origination and lifecycle of the products and services.Mr. Espen Strand Pedersen, CEO of Norway in a Box, said: “ I’m excited and honored to be a partner of DNV GL, and VeChain, and have our products on the Bright Code platform. In around two weeks, the first batch of blockchain-empowered Norwegian salmon will be delivered to China. We’re looking forward to its arrival.”The event concluded with guests lighting the Carbon Reduction Forest, which not only represents what Renji has achieved in the past 175 years but also indicates that the partners will join hands in building a sustainable future and promoting a greener and healthier lifestyle.About Renji HospitalFounded in 1844, Renji Hospital is the first western hospital in Shanghai. Combining medical treatment, medical teaching, and medical research, Renji is a top-tier comprehensive hospital in Shanghai, it is composed of four divisions and the Shanghai Cancer Institute.Recent years witnessed an increase in the number of patents granted to Renji, Renji is also assigned multiple projects funded by Program 973, Program 863, and the National Natural Science Foundation. In the past years, Renji has won several state-level rewards, such as National Prize for Progress in Science and Technology, The Chinese Medical Science and Technology Award, and Award in Research Achievements (Science and Technology), Ministry of Education.The hospital has engaged vigorously in international activities with foreign medical industries. It has conducted academic exchange and built professional cooperation with more than 20 medical colleges from over 10 countries and regions such as Canada, USA, France, Belgium, Germany, Britain, and Australia.
19. 05. 13
A Brief Introduction to the...
VeKey is a specially designed identity hardware device for asset management that boasts superior security to current market offerings. The VeKey boasts robust performance thanks to the ARM SC300 processor. It features a nested vectored interrupt controller, wake-up interrupt controller, Armv7-M CPU, memory protection unit, AHB-Lite, JTAG, ITM trace, ETM trace, serial wire, and breakpoint unit. The SecurCore SC300 processor is able to provide support for countering side-channel attacks, fault injection, and probing in addition to common functionality.Built upon the Cortex™-M3 processor, SC300 combines the coding efficiency of the Thumb®-2 instruction set architecture for a two-fold increase in energy efficiency and performance. This processor enables more features to be integrated into the chip with minimum space. The chip also incorporates the proven security features of ARM SecurCore processors, which enables high assurance level certification for security-critical applications, making SC300 one of the most widely used processors in Secure Elements for advanced security and performance unparalleled by traditional chips.Hardware architecture of secure elementsAttacks and Counter-measuresWith SC300 processor embedded, VeKey is able to defend against various attacks, and provide multi-layer robust security protection. Below please find brief introductions into the main attacks and their countermeasures within VeKeys offering.For the time being, attacks can mainly be divided into two categories: physical attacks and software attacks.Physical AttacksThere are mainly three types of physical attacks:Non-invasive attacksInvasive attacksSemi-invasive attacksNon-invasive AttacksNon-invasive attacks, also known as side-channel attacks, are implemented without destroying the chip package nor the chip structure, such attacks attempt to obtain the secret key or confidential data by forcing an error or performing statistical analysis on the voltage fluctuations, power consumption, electromagnetic radiation, and the like of the device.Non-invasive attacks include:Differential Power Analysis，DPASimple Power Analysis，SPAElectromagnetic analysis，EMARadiofrequency analysis，RFANon-invasive attacks can be most destructive since they are almost impossible to be noticed, thus the users are unable to prevent further losses.Invasive AttacksInvasive attacks are conducted through decapping and modifying the chip in an irreversible manner, to launch such attacks, hackers need to remove the chip package through etching drilling or laser cutting, after defeating the encapsulation, they can scan or modify the chip directly with various machines, for example, scanning electron microscope, by sending an electron beam directly toward the decapped chip, images composed of various signals are generated, thus the hacker can obtain the encrypted data by reading the images and then translate the patterns they learned into the confidential data through reverse engineering.Multiple devices and materials are needed to facilitate the process, such as chemical reagents, high-resolution optical microscopes, laser cutting systems, microprobe platforms, oscilloscopes, signal generators, scanning electron microscopes, and FIB equipment, thus making the invasive attacks the most pricey one among the three.Semi-invasive AttacksSemi-invasive attacks are also known as fault injection, referring to the kind of attacks lie in between non-invasive and invasive attacks, while involving the removal of packagings, hackers don’t need to modify the chip structure.Explanation of Semi-invasive attacksFault injection attacks are unleashed by injecting voltage glitch, clock glitch, intense light, UV light, X-rays and the like into the running device, in this way hackers can alter the device’s working behavior or create an error output, thereby getting access to the confidential data.Software attacksSoftware attacks are the most common attacks that the hackers conduct to expose, tamper, or access information by taking advantage of the bugs of the software.From chips to applications, providing end to end protectionTo cope with the above-mentioned attacks, VeKey is equipped with all-around security protection that covers the entire path from the chip all the way to application.ChipEmbedded ARM SecurCore SC300 CPU, providing support for countering side-channel attacks, fault injection, and probing, SC300 is widely used by banks, government agencies, and transportation companies.MPU(memory protection unit) is introduced to assign access permission to memory, flash and more, with MPU in place, the encrypted area and confidential area can be protected against applications and parties without authorization.Installed Environment Monitoring Sensors: including voltage sensor, frequency sensor, temperature sensor, voltage glitch detector, light sensor, clock glitch filter, and true random number generator.Active fuse is applied to protect the chips against physical probing.EncapsulationThe metal shield offers active protection against de-packaging and probing. When attackers try to de-cap the chip, such attempts will be detected and the data stored in the chip will be erased.The fully-closed package can effectively lessen electromagnetic radiation emission, thus substantially reducing the possibility of Electromagnetic (EM) side-channel attacks.SystemConcealment tech is applied in the encryption algorithm to eliminate the correlation between power consumption, operation and the median being processed:Conceal time patternConceal amplitude patternThe encryption algorithm also supports masking technology, which can randomize the median processed by the device so that its power consumption does not depend on the median of the encryption algorithm executed by the device.Randomize the plaintext and secret key inputRandomize the medianApplicationThe confidential data, such as private keys and passwords, are stored encrypted and scrambled, the devices each have its own encryption code.The interfaces, such as debug interface, are closed to prevent external injection.Other countermeasures, such as remote authentication, are introduced to further enhance VeKey’s security.ConclusionWith ARM SC300, an advanced processor, perfectly integrated, VeKey is able to provide the high-level security and performance necessary for commercial adoption. Apart from that, VeKey combined hardware protection, encryption algorithm, and other methods to further improve its efficiency and provide bank-level security, it can defend against various attacks and enable perfect memory protection. Incorporating the firmware and algorithm VeChain specially designed for blockchain application scenarios, VeKey can provide the best secure storage solution for private keys in the market, freeing the customers from being worried that their data might be stolen.In this article, the first session of VeKey series, we had a brief introduction to the secure tech of VeKey, in the next session, we will take you to its current applications scenarios, including:On-chain ecosystem management: In Digital Carbon Ecosystem, VeKey is used by DNV GL, the independent third party, to perform parameter modification, data authentication, and credit issuing.On-chain KYC: In the case of VeVID, VeKey is used to validate, audit, and check system users, and each validated user will be assigned a unique ID on the blockchain.Digital Asset Management: In the case of off-chain threshold signature solution, private keys can be broken down into multiple encrypted parts and stored in separate VeKey devices to avoid misappropriation and reduce the possibility of economic loss caused by SPOF.Please stay tuned for more technical insights of VeChain’s software and hardware technology.A Brief Introduction to the Secure Tech of VeKey was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 05. 10
Introducing the New Officia...
After months’ of preparation, we’re more than excited to unveil the upgraded Official Website of VeChain! The new website comes with a brand new look and enhanced features. We have completely upgraded the website for overall improved user experience, optimal service efficiency, and quality. With a cleaner layout, our partners, customers, and the interested parties can learn about who we are and what we do straight away.The new official website is composed of six sections, namely Home, Solutions, Products and Services, About Us, Join Us, and the VeChainThor Blockchain. In the above-mentioned sections, you find detailed introductions and demonstrations for the products, services, structure, and vision of VeChain while being able to locate the information that you’re interested in easily.HomeIn the Home section, you can quickly learn about the progress of VeChain, VeChain solutions, R&D results, breaking news about VeChain from mainstream media, and selected customers and partners. VeChain solutions have been adopted in major industries such as luxury goods, energy, FMCG, automobiles, new retail, and electronic document deposit, without the trust and support from our partners and customers, VeChain wouldn’t have been able to make such remarkable progress.SolutionsThe Solutions section was crafted to display what VeChain has built together with our partners. Here you can find multiple solutions VeChain developed for various industries. To help the potential enterprise customers quickly find the right solution and make appropriate deployment plans, empowering all the parties who care about the development of the blockchain industry, we arranged separate paragraphs to elaborate on the business pain points, demands, solution overview, advantages compared with traditional practices, and successful cases.Products and ServicesIn this section, you get an overall introduction to the products right away and have direct contact with VeChain official. Here you can also find a selected group of our partners who’re now using VeChain products and services, we’re more than glad to invite you to join the leading enterprises in promoting blockchain adoption, and empower the real economy together with us.About Us & Join UsWhile staying committed to empowering our customers and partners and building a platform where they can gain ever-increasing value, VeChain also attaches great importance to our employees, and spare no efforts to support their growth and career. In the “About Us” section, you can learn more about our team and development plan, and “Join Us” will provide you with up to date information about career opportunities at VeChain, come and join us!VeChainThor BlockchainHere you can learn about the structure, consensus mechanism, governance, and economic model of the VeChainThor Blockchain. More importantly, various VeChain-based applications, such as a blockchain browser, VeChainThor Wallet, and VeForge browser are also available here. By clicking on the tabs listed in the Resources section, users will be directed to VeChainWorld, the one-stop source of VeChain resources. For developers, we have prepared all sorts of development documents and resources, with which they can embark on the dApp development journey effortlessly.VeChain works hand-in-hand with partners from across the industries to explore best practices for empowering the real economy with blockchain technology. We’re willing to share our ideas and achievements with different parties, thus inspiring even more people and facilitating the process of turning our thoughts into reality. The new official website, with its abundant content and well-organized layout, will be the hub for VeChain to connect with all our partners, enterprise customers, and community members. We will continue to develop the website and fix the bugs to further improve its user experience.Come and try out our new website, it’s just a click away：https://www.vechain.com/Introducing the New Official VeChain Website was originally published in VeChain Foundation on Medium, where people are continuing the conversation by highlighting and responding to this story.
19. 05. 09
VeChain Launches HSM Based ...
Overcoming the Risks of Existing Private Key Escrow ServicesBlockchain technology has been adopted by numerous industries and is set to become a bigger influence over almost every aspect of our lives. From clothing to food to housing to transportation, the applications for blockchain seem limitless.However, that doesn’t mean the process is seamless or that development doesn’t have challenges. One of those is the complicated addresses and complex mnemonic phrases, which are difficult for users to memorize and manage. Thus, users need a practical solution to enable users to best manage and access digital assets, turning to private key escrow servicesExisting Private Key Escrow Services Have Innate WeaknessesThere are existing solutions as the market for third-party private key escrow services is emerging. These solutions do answer part of the problem — they reduce the intricacies related to access. This increased usage and scaling of transactions expanding also presents an overwhelming pressure for providers regarding costs.These existing systems fall short on security as well. Consider that those solutions only use software protection and store private keys in the form of digital files. Each transaction needs to call the file stored in the server to complete the decryption and signature transaction on a traditional server. This system is exposed to tampering, as it only holds low-level security barriers.Mt. Gox Is Stark Reminder of the Realities of a HackThis risk of compromised keys is illustrated with the example of Mt. Gox, once the world’s largest bitcoin exchange, suffered a devastating hack wherein approximately 850,000 of bitcoin, worth about $473 million in 2014, were stolen due to hacking of its faulty computer system. The hack is believed to have been carried out by compromising a computer belonging to a company auditor. This resulted in Mt. Gox filing for bankruptcy. There have been arrests in the hacking with charges of laundering.These vulnerabilities and the need to overcome the risks of private key escrows led VeChain to develop an HSM based key escrow turnkey solution.Improving Efficiency and Enhancing Security, VeChain Introduces HSM Based Key Escrow Turnkey SolutionEnterprises need a solution that solves the shortcomings of existing private key escrow services. Through heavy investments in R&D, VeChain has conceived a unique solution with an HSM based key escrow service. The new product officially launched at the 2019 VeChain Summit held at the Fort Mason’s Festival Pavilion in San Francisco on April 18, 2019.VeChain’s CTO Jianliang Gu introduced the HSM based Key Escrow Turnkey Solution at VeChain Summit 2019This new approach to key escrow represents a breakthrough in the current software protection practices in the industry. It combines software and hardware to improve transaction efficiency and exceed the security needs of enterprises.This solution is available for independent deployment, once authorized by VeChain, enterprises and developers can build their own key escrow services based on the HSM Based Key Escrow Turnkey Solution to better serve their customers.Watch Jianliang Gu, VeChain’s CTO, introduced HSM based Key Escrow Turnkey Solution at the VeChain Summit 2019.https://medium.com/media/7230fe7f18d0d7e522d50be1b539ccee/hrefA Look Inside: How Does the HSM Based Key Escrow Solution Work?HSM based key escrow turnkey solution, developed based on the hardware products from the world-leading HSM manufacturer Gemalto, incorporates VeChain Firmware with blockchain features. Suitable for blockchain applications, HSM based key escrow turnkey solution boasts a superior secure storage capability to prevent information leaks.What Happens if an Attack is Detected?Attacks are inevitable in the cybersecurity world. When the key escrow detects an attack, the memory self-destructs to prevent any leakage from the HSM hardware device. At the same time, the solution is equipped with backup cards, which can recover the information when an unexpected HSM malfunction occurs.Sign Transactions Via Algorithm Strengthening SecurityThis unique concept improves the level of security for private keys, transactions, and other applications. When signing a transaction, there is no need to call the KeyStore file. Transactions can be signed through algorithms for optimal efficiency. Since there is no need to export the private key, the possibility of leaking can be eliminated, making it even safer.Implementing the Solution: The Digital Carbon EcosystemCurrently, the HSM based key escrow turnkey solution has been implemented in the “Digital Carbon Ecosystem,” jointly developed by VeChain and DNV GL, a global quality assurance and risk management company. Other parties participating are BYD, PICC, Tsinghua University’s Sino US Relations Research Center, and Shanghai Xiandao Food.The goal of the “Digital Carbon Ecosystem” partnership is to advance consistency with the UN’s Sustainable Development Goals, relating to environmental practices. These companies are motivated to build a digital low carbon ecosystem to reduce global carbon emissions.During the VeChain Summit 2019, Sunny Lu announced that this Carbon Ecosystem has signed a deal with the United Nations Development Programme (UNDP), with further details to be released as the ecosystem develops.The effort uses the VeChainThor’s blockchain technology and the Internet of Things (IoT) to track ecologically beneficial behavior, providing rewards in carbon credits for those enterprises and individuals that adopt sustainable practices.Digital Carbon Ecosystem is responsible for providing key storage services for its customers, enabling vehicle owners to enjoy secure, reliable, and convenient blockchain services without recording complex account names.The Future of HSM Based Key Escrow: New Applications EmergingAs the digital asset ecology continues to mature, the solution will be further employed in the financial and insurance industries. Key escrow companies will also be able to use it as they develop various products, based on secure technology, to meet market demand. It could reduce development costs and improve development proficiency.Moving forward, VeChain will continue to use its security protection experience, accumulated in practice, to continuously optimize the HSM based key escrow turnkey solution in terms of risk control, algorithms, and strategies, meeting the increasing security protection needs of enterprise clients and enhance the user experience.Learn more about the HSM based key escrow turnkey solution by contacting us at firstname.lastname@example.org.About Turnkey SolutionsTurnkey Solutions are designed to further promote the development of blockchain applications on the VeChainThor Blockchain, and essentially eliminate the high technical threshold, substantially lower the costs, and significantly reduce the time to market for SMEs in blockchain integration. With the development tools provided by VeChain, such as general interfaces and API documents, the solution can integrate with the existing business of the enterprises immediately with zero development requirements. They’re also available as turnkey package for the enterprises and developers to deploy the solution independently and conduct custom development in accordance with their own management models and business demands, adding value to their business and meeting the diverse demands of the market.Turnkey Solutions include:VeChain ToolChain Turnkey SolutionVeChain Launches Revolutionary One-stop BaaS Platform — VeChain ToolChain, Now Anyone Around The…VeKey Based Threshold Signature Turnkey SolutionVeChain Launches VeKey Based Threshold Signature Turnkey SolutionHSM Based Key Escrow Turnkey Solution.
19. 05. 02
VeChain Launches VeKey Base...
Digital transformation and digital industrialization have become increasingly important to economic growth. According to the latest report released by the China Academy of Information and Communications Technology (CAICT), the volume of China’s digital economy reached 31 trillion RMB, or 34.8 percent of its GDP, in 2018, up over 20% from the previous year.With the continuous development of blockchain, further adoption of the technology is expected, leading to an increase in business investment in digital assets. To prepare for this, enterprises need to be more efficient and proficient in managing their own digital assets. Blockchain, after all, has ushered in incredible transparency and audibility. Enterprises also need to be aware of the risks associated, especially SPOF (single point of failure).With recent incidents in the world of crypto exchanges, it’s imperative that the industry looks to a Solution that offers an off-chain threshold for multi-signatures. This drive for a Solution has been a focus for VeChain.The Role of Blockchain in Digital Asset Management and the Risk of SPOFBlockchain is currently a tool that is being leveraged to reduce risks associated with existing digital asset management. While it has many key benefits, it can also be an Achilles heel, giving rise to the possibility of SPOF (single point of failure).When there are private keys used to manage digital assets, they are typically controlled by keyholders, which could mean a single individual. There is no centralized body supervising the process. If the single user loses access to that private key, recovering the assets could be impossible.There is no better example of such a colossal loss as the case of QuadrigaCX, a once healthy cryptocurrency exchange founded in Canada. Gerry Cotten, the CEO of QuadrigaCX, was the sole holder of all the digital assets, valued at $145 million. The assets were held in cold wallets, secured by digital security keys for protection from hacking and theft. Only Cotton had access to the wallets and corresponding keys.Because of this, his unexpected death in 2018 created a chaotic situation. According to a filing in the Nova Scotia Supreme Court, the firm has been unable to locate or access the funds since Cotton’s death on December 9, 2018. Because of this, the company filed for creditor protection on February 1st.At the time of the creditor protection filing, the company only has $286,000 in cash but owes over $195 million to its users. So, why can’t anyone access the digital assets?Cotton’s widow Jennifer Robertson has stated in an affidavit that the computer where her husband worked is encrypted and she or no other party has the password. A cybersecurity expert was hired to “hack” the computer to no avail.As of April 9, QuadrigaCX has officially filed for bankruptcy. This bankruptcy filing was in response to the recommendation of Ernst & Young, which had previously been attempting to restructure the company.This real-life example of SPOF should be a wake-up call to the industry about sole access to wallets and private keys. It also identifies a weakness and challenge in the use of blockchain to manage digital assets.To address this risk, VeChain has developed VeKey Based Threshold Signature Turnkey Solution.VeChain’s VeKey Based Threshold Signature Turnkey Solution — The Solution to Eliminating the Risk of SPOF with Off-Chain Multi-SignaturesThe unfortunate example of QuadrigaCX is not an isolated incident. At any moment, other exchanges could face a similar fate unless they have a better way to manage SPOF risk.VeChain has just launched its Solution that satisfies enterprises’ demands of internal risk control while also reducing the possibility of SPOF — VeKey Based Threshold Signature Turnkey Solution.The off-chain Threshold Signature Solution debuted at the 2019 VeChain Summit held on April 18, 2019, at Fort Mason Festival Pavilion. Designed for VeChain ecosystem members and the developers focused on providing secure private key management services, VeKey Based Threshold Signature Turnkey Solution combines secure hardware and software in one single Solution in an effort to support enterprises’ management of digital assets. The chips are constructed integrating independent secure coprocessor and multiple chip security technologies to ensure a shielded operating and storage environment for confidential data. Featuring hardware-based encryption, memory access control unit, attacks detection, random number generator, and SPA/DPA anti-attack, CG4Q series chips provide robust bank-level security protection and superb performance sufficient to meet the enterprise clients’ demands of security and are much more secure than current leading hardware wallet options.VeChain is excited to bring the Solution as a turnkey package to market. The launch of this new tool is in line with our commitment to remain focused on building an open ecosystem and improving Solutions for optimal security, compliance, and efficacy. VeChain’s vision is to empower the real economy and facilitate digital transformation. We will stay true to our mission and continue our journey with partners, enterprises, and developers in the ecosystem, enabling them to stay ahead of the changing market.How VeKey Based Threshold Signature Turnkey Solution Works to Deliver Unparalleled Security without Compromising AccessVeChain’s VeKey HardwareVeKey Based Threshold Signature Turnkey Solution is an easy-to-use, certified Solution for the secure storage of private keys and the management of digital signatures and identities. For the purpose of increasing its security and availability, VeChain designed VeKey, a security identity hardware, for the Solution, it features multiple complementary security layers, including:Compulsory double authentication (biometric identification via fingerprint + PIN)Software-based security mechanismBack-end verificationHardware Secure ElementTo provide the highest level of security and the best Solution on the market, VeChain equipped VeKey with CG4Q series chips developed by Datang Microelectronics, a holding subsidiary of public listed company Datang Telecom Technology Co., Ltd (stock ticker 600198)，whose asset totaled over 8.7 billion RMB and generated over 4.3 billion RMB revenue in 2017. The chips are constructed integrating independent secure coprocessor and multiple chip security technologies to ensure a shielded operating and storage environment for confidential data. Featuring hardware-based encryption, memory access control unit, attacks detection, random number generator, and SPA/DPA anti-attack, CG4Q series chips provide robust bank-level security protection and superb performance sufficient to meet the enterprise clients’ demands of security.With the above-mentioned hardware and software-based security measures in place, this Solution ensures the security of the private keys and enable secure identification of the private key holders.Through the Solution, private keys can be broken down into multiple encrypted parts and stored in separate VeKey devices. Enterprise users can predefine the number of VeKeys needed to recover the private key. In this way, no single VeKey holder will have absolute control over the assets, thus avoiding misappropriation.The solution can also be used to avoid economic damages caused by the loss of private keys, as it can always be recovered so long as the enterprise can provide the predefined number of VeKeys.More importantly, the Solution supports asynchronous operation, with which the VeKey holders are enabled to review the transaction applications from anywhere, at any time. In the event any VeKey holder wants to initiate a transaction, they would need only to log into the system and submit an application for review，the transaction will be signed and broadcasted to the blockchain when it is approved by the predefined number of VeKey holders. With this process, a remote threshold multi-signature can be achieved, thus increasing transaction efficiency and security.Last but not least, this solution is available as a turnkey package for the enterprises and developers to deploy independently and conduct custom development in accordance with their own management models and business demands should they be authorized with the Turnkey Solution provided by VeChain. VeKey Based Threshold Signature Turnkey Solution is the choice for enterprises to integrate with their business systems in terms of business expansion and scaling. Learn more about VeKey based threshold signature turnkey solution and how your business can implement this solution by contacting us at email@example.com. There is currently not a set retail launch date. As enterprises and SMEs implement the solution, a modified version for retail use will be released.In the coming month, VeChain will introduce a series of tech deep dive into the security features, application scenarios, and strengths of VeKey Based Threshold Signature Turnkey Solution, please stay tuned!About Turnkey Solutions:Turnkey Solutions are designed to further promote the development of blockchain applications on the VeChainThor Blockchain, and essentially eliminate the high technical threshold, substantially lower the costs, and significantly reduce the time to market for SMEs in blockchain integration. With the development tools provided by VeChain, such as general interfaces and API documents, the solution can integrate with the existing business of the enterprises immediately with zero development requirements. They’re also available as turnkey package for the enterprises and developers to deploy the solution independently and conduct custom development in accordance with their own management models and business demands, adding value to their business and meeting the diverse demands of the market.Turnkey Solutions include:VeChain ToolChain Turnkey SolutionVeChain Launches Revolutionary One-stop BaaS Platform — VeChain ToolChain, Now Anyone Around The…VeKey Based Threshold Signature Turnkey SolutionHSM Based Key Escrow Turnkey Solution;About Datang MicroelectronicsDatang Microelectronics Technology Co., Ltd. (hereafter referred to as DMT) is a holding subsidiary of Datang Telecom Technology Co., Ltd, whose assets totaled over 8.7 billion RMB and generated over 4.3 billion RMB revenue in 2017. As an enterprise that has undertaken multiple major scientific research projects assigned by the government, DMT has extensive experience in chip design, COS (Chip Operating System) development, system platform development, system application development, and terminal product design.With a seasoned team of brilliant minds, DMT pioneered various technological innovations and product innovation, and was selected by the government to design and manufacture the chips of the second-generation ID card. In the past years, DMT invested heavily in researching and developing chip security technology, processor technology, RF technology, COS technology, and more, and made superb achievements. DMT has nearly 200 technical patents and was granted the WIPO-CHIPA Award and the First Class Award of the State Science and Technology Progress Award.
19. 04. 30
VeChain Launches Revolution...
VeChain Launches Revolutionary One-stop BaaS Platform — VeChain ToolChain, Now Anyone Around The World Can Implement Blockchain TechnologyWith the advancement of 5G, IoT (The Internet of Things), AI (Artificial Intelligence), and the Internet of Value, data is set to play a more significant role in the future business world. For enterprises to realize the value of data, blockchain technology will be vital. The disruption of existing business models is on the horizon, which will compel businesses to embrace new technologies like blockchain, enabling them to stay ahead of the market.However, there are obstacles in feasibly employing blockchain technology into business models, especially for small and medium enterprises (SMEs). This failure is typically caused by one of three things (or all):High costComplexityLacking professionals or technical capabilities to implement the solutionBreaking Down the Barriers — VeChain Develops and Launches ToolChain so that Anyone Can Implement and Use Blockchain TechnologyVeChain officially launched ToolChain, the next generation of blockchain-as-a-service (BaaS) platform at the 2019 VeChain Summit — the first global developer conference of VeChain, held on April 18th at San Francisco’s historic Fort Mason Festival Pavilion. It is the first commercial BaaS platform built on top of a public blockchain.ToolChain Addresses Pain Points for SMEsVeChain ToolChain provides a variety of general interfaces to essentially eliminate the high technical threshold and substantially lower the costs for SMEs or even individuals in blockchain integration. VeChain ToolChain pioneered the concept of providing an “off-the-shelf” solution, with various standardized application modules.Mr. Sabotage shared his experience of using Toolchain at the VeChain Summit 2019Unlike the BaaS products on the market, ToolChain also includes a vertical blockchain application focusing on product life cycle management, which can be used as a SaaS solution or customized as a turnkey package. The solution can integrate with the existing business of the enterprises immediately with zero development requirements. In this way, companies without blockchain development capabilities can acquire a secure and mature blockchain solution at a reasonable cost. More importantly, eco-enterprises and channel partners are allowed to build their own applications on the VeChainThor blockchain BaaS platform, should they be authorized with the turnkey solution provided by VeChain.SMEs can further benefit from a comprehensive one-stop customized blockchain service, including product life-cycle management, supply chain management, data storage, data verification, and process verification, thereby improving their brand image and scaling their businesses.Meeting the Demands of the Market: ToolChain Releases with Three VersionsTo meet the diverse demands of the market, VeChain ToolChain solution is currently available in three versions: Standard Version, Developer Version, and Channel Partner VersionStandard VersionThe VeChain ToolChain Standard Version provides various standardized application modules, tools and IoT devices. This allows SMEs with no development capability to have their own blockchain-based lifecycle management solution.Developer VersionFor enterprise customers with strong technical capabilities, the developer version can provide a variety of API interfaces, SDK development kits, and detailed developer documentation. With these, enterprises can develop various applications based on the VeChainThor Blockchain according to their own needs and desired hardware solutions.Channel Partner VersionThe newly developed Channel Partner Version will support independent deployment and multi-dimensional customization of ToolChain based on the channel partner’s business strength. To become a channel partner, you only need to apply for authorization from VeChain before receiving the ToolChain Turnkey packages for customization and independent deployment. This version creates a win-win situation by allowing VeChain’s partners to build their own blockchain-based business ecology to serve their customers.Hardware Suggestions: What You Need to Fully Implement VeChain ToolChainTo realize VeChain ToolChain’s strengths and provide a one-stop solution to optimize supply-chain management, for SMEs and even individual users, by using a smartphone with NFC function and NFC tags ordered from VeChain (will be available soon), you can start using the ToolChain service. Moreover, VeChain has prepared a collection of suggested hardware devices to fully implement the solution and connect the software to the physical goods being managed. The hardware suite includes:QR code printer and application software for easy, immediate at the office, printing of QR codesNFC writer and related software to create digital labelsIoT devices, including RFID chips, sensor devices, and moreHandheld terminal devices to enable Toolchain apps to bond and activate NFC chips and collect and transfer chip ID and other core dataPhysical carriers for simple transport of the Toolchain Kit, including QR codes and NFC/RFID digital chipsToolChain Successfully Applied in Multiple IndustriesVeChain ToolChain has been successfully introduced into various industries such as energy, automobile, agriculture, wine, FMCG, art auction, insurance and more. In these industries, it has played a critical role in data verification, data sharing, anti-counterfeiting, and traceability.New business models based on the VeChain ToolChain have been developed to empower real economy and facilitate an enterprise’s digital transformation and brand image enhancement. In the future, VeChain will stay focused on building a blockchain-based ecosystem for its partners and developers, enabling them to provide customized ToolChain-based services for enterprise users, extend application scenarios, and further optimize relevant functions.To use VeChain ToolChain for business scaling, please contact the professional VeChain ToolChain consultant for personalized development advice at firstname.lastname@example.org and apply for a free trial of VeChain ToolChain Standard Version.About Turnkey Solutions:Turnkey Solutions are designed to further promote the development of blockchain applications on the VeChainThor Blockchain, and essentially eliminate the high technical threshold, substantially lower the costs, and significantly reduce the time to market for SMEs in blockchain integration. With the development tools provided by VeChain, such as general interfaces and API documents, the solution can integrate with the existing business of the enterprises immediately with zero development requirements. They’re also available as turnkey package for the enterprises and developers to deploy the solution independently and conduct custom development in accordance with their own management models and business demands, adding value to their business and meeting the diverse demand of the market.Turnkey Solutions include:VeKey Based Threshold Signature Turnkey Solution;HSM Based Key Escrow Turnkey Solution;VeChain ToolChain.
19. 04. 25
VeChain Summit 2019, the Fi...
April 18, 2019 — San Francisco, VeChain Summit 2019, the first global developer conference by VeChain, was held at San Francisco’s historic landmark — Festival Pavilion, Fort Mason.Themed as “Creating Valuable Transactions”, the conference boasted over 350 developers and scholars, over 50 business decision makers, government officials, and investors from all over the world to witness the latest achievements in VeChain Tech and Innovations. In attendance were business service providers representing clients which amounted to over 100,000 globally, covering the vast majority of Fortune 2000 companies. A joint collective over $10 Billion in capital under management of investors was represented by attendees.https://medium.com/media/042e8898de137e448aeea3af36571dd9/hrefFeatured speakers included:Luca Crisciotti — CEO of DNV GL Business AssuranceDr. Dan Boneh — professor of Computer Science and Electrical Engineering of Stanford UniversityX. Eyeé — Senior Technical Account Manager & Blockchain Ambassador at Microsoft AzureSid Mofya — COO of Draper Venture NetworkParminder Parmar and Michael Burke, Blockchain architect at Deloitte EMEA Blockchain LabCihan Albay — acting leader of IT Tech Office Singapore, BMW GroupJackson Fu — Co-Founder of CREAMethod IncubatorDaniel Kelman — Co-Founder of OceanexBianca Chen — Executive ProducerAlongside the featured speakers were Next Blockchain, Fenbushi Capital, Bitrue, 8Hours — PlayTable, Plair, Safe Haven, DBET, Actiware Development and many other entrepreneurs from multiple industries in attendance sharing their insights into the status quo, achievements, and future of blockchain technology.We would like to extend our most sincere gratitude to all of the keynote speakers, panelists, projects, and attendees. The professionalism and passion displayed at every level made the event both productive and enjoyable. VeChain Summit 2019 would not have been as big of a success without their support and contribution.During the event, Sunny Lu — CEO and Co-founder of VeChain, announced Masanari Koike and Antonio Senatore as VeChain’s new advisory board members.Sunny Lu announced Masanari Koike as the new advisory board memberSunny Lu announced Antonio Senatore as the new advisory board memberAs the global CTO at Deloitte Blockchain EMEA Blockchain Lab, Antonio works closely with DNV GL to develop a blockchain solution securing the certificate issuance process for business assurance. This solution was originally built on Ethereum and Deloitte opted to migrate to the VeChainThor Blockchain. The Deloitte Blockchain team also announced that they have developed a VeChainThor Blockchain Explorer and ‘Truffle’ on VeChain named Loki. Loki allows multiple smart contracts deployment, configurations, transaction simulations, gas estimations, along with many other additional features.As the former member of House of Representatives of Japan, Masanari has extensive experience in business development, politics, legal and compliance, and will support VeChain’s Japan market expansion and business development. His involvement will surely help to enhance the presence of VeChainThor Blockchain on the global stage.Apart from the thought-inspiring speeches delivered, VeChain Summit 2019 also unveiled multiple one-stop enterprise-level blockchain solutions such as VeChain ToolChain, HSM Based Key Escrow Turnkey Solution, and VeKey Based Threshold Signature Turnkey Solution. The launch of these solutions will further VeChain’s effort to facilitate the digital transformation of the real economy.This revolutionary product that enables EVERYONE around the world to implement and use blockchain — VeChain ToolChainVeChain Toolchain SolutionBy providing one-stop blockchain services including life-cycle management, supply chain management, data storage, data verification, and process verification, VeChain ToolChain can essentially eliminate technical threshold and significantly reduce development cost for SMEs to integrate blockchain into existing business models, thus facilitating brand image enhancement and business scaling. VeChain also used ToolChain in the interactive portion of exploration challenge throughout the summit where attendees stepped into the shoes of a VeChainThor Developer and could experience blockchain technology for themselves.HSM Based Key Escrow Turnkey SolutionWhile enterprises are increasing the presence of digital assets in their portfolio, many lack the capabilities necessary to conduct proper management of such assets. To solve the problem of asset management, VeChain has developed the HSM Based Key Escrow Turnkey Solution. This tamper-proof private key management solution boasts superior security for private key storage, transactions, and other application scenarios, it can also be used for encryption, transaction signing, and identification. In addition to providing basic key escrow service for enterprises, VeChain enables independent deployment of HSM Based Key Escrow Turnkey Solution. The solution can be provided to key escrow companies to develop various products based on the mature and safe underlying technology to meet diversified market demand, reduce development costs, and improve development proficiency.VeKey Based Threshold Signature Turnkey SolutionWhile blockchain can be leveraged to empower the real economy and minimize risks posed by existing systems, it may also give rise to a single point of failure (SPOF) thus adding difficulty to risk control. To address this problem, VeChain introduced the VeKey threshold signature turnkey solution, which is the first of its kind combining software and hardware to provide robust security, integrating enhanced hardware security module and optimal algorithms. The VeKey greatly reduces the risk of SPOF, ensuring the security of users’ digital asset.VeChain VeKey Based Threshold Signature Turnkey SolutionIn the VeChain Tech Introduction session, core blockchain engineers from VeChain presented a detailed overview of Sync and Connex. Sync provides a seamless experience for users and developers and is designed to provide superior user experiences for dApps on the VeChainThor Blockchain.Connex serves as the dApp environment to provide the unlimited potential to developers and users. Connex is a standard interface to connect dApps with the VeChainThor Blockchain and users, comparable to web3.js, providing a set of well-designed APIs for developers. With an injected Connex Object into web applications, developers can easily build dApps. Comparing Connex to web3.js, Connex provides streamlined and lightweight methods for dApps.VeChain Summit 2019 enabled the attendees to form a deeper understanding of how blockchain empowers the real economy, and displayed what VeChain has achieved together with its partners from across the industries. VeChain Summit 2019 demonstrated four major application scenarios of VeChainThor Blockchain: New Retail, Digital Authentication, Automobile, and Digital Carbon Ecosystem, in the hope that more enterprises and individual users can be inspired and come up with intriguing ideas to further the application of blockchain.In the Hands-on Lab, VeChain built a unique exhibit, where attendees were allowed to explore how blockchain optimizes business management by combining software and hardware-based solutions.Hands-on Lab at the VeChain Summit 2019The year 2019 will witness the acceleration of blockchain adoption. To facilitate the processes required for that adoption, blockchain startups must work closely with established enterprises, scholars, and developers. Only in this way can we achieve steady and efficient growth. The VeChain Summit 2019 added to the impetus of bolstering the development of the blockchain industry and surrounding VeChain ecosystem. The summit encouraged participants from all stages of involvement and proficiency to adopt new technologies exploring the untapped areas that pave the way for new developments in the blockchain industry.To learn more, join us on:Twitter: vechainofficialWebsite: www.vechain.orgTelegram: VeChain OfficialEmail: email@example.com
19. 04. 23
A Revamped User Experience ...
In the first VeChain Application Development Challenge, we received 22 applications built on top of the VeChainThor Blockchain. We were blown away by the talent level of the developers and the value these applications could bring to the VeChain Ecosystem.The development challenge aids our desire to enable developers and startups in the ecosystem to create valuable transactions. We believe in that cause so much so that developer support and value creation are some of our key objectives in 2019. We have been using all of the effort we can muster to build tools and infrastructure services that help applications attract users.As a result of that effort, we are excited to announce VeChainWorld which includes an application hub, developer information center, and developer forum. With the launch of VeChainWorld, users and developers will have a one stop source to find applications and useful information relating to VeChain, and even communicate with other ecosystem builders. With this, you have a much needed revamp on the current user experience when accessing VeChain applications. If you have previously registered the user account on the VeChain portal, you would be able to use that account to login VeChainWorld directly.Application HubUsers are able to scroll through all applications built on VeChainThor based on their categories , and if you visit VeChainWorld via Chrome+Comet, Sync, or the VeChainThor Mobile Wallet you will be able to access and download applications right away.Please make sure you have the VeChainThor environment installed properly, check out this link if you haven’t.Developers, you can submit your developed application via “Submit application” in the application hub, and the VeChainWorld operation team will review the application before addition. The review mainly includes a click-through test to verify the main functions work properly and a general check to confirm the application does not contain any illegal contents to the best of our knowledge.In preparing the application hub, we have collected some of the existing applications on the VeChainThor Blockchain. But, we encourage the application creators to re-submit the applications developed so that users see the correct developer name and latest information related to your application.SyncIn addition to Chrome, users can access the VeChainWorld and listed applications via Sync, which is an open source Internet browser with all needed components of the VeChainThor Blockchain natively built-in such as wallet, Connex environment, node, transaction and activity history, signature panel, and it is available on MacOS, Windows, and Linux. Sync provides a seamless experience for you to use VeChainThor Applications compatible with Connex.When opening Sync, you will find the user interface quite familiar. But if you look closer, you will find many handy functions integrated with the VeChainThor Blockchain.Wallet menu: you can create and import VeChainThor wallets, and transfer VET within the Sync browserAddress bar: when accessing a website or dApp, you just need to type the URL into the address bar. And what’s cool is that you can directly input a VeChainThor Address, txID or block number, and it will take you directly to the blockchain explorerNetwork and node status: check the current blockchain network and node you are connecting to, and it will indicate if the node is not syncedActivity history: find the history of your operations interacting with the VeChainThor blockchain, you can see TxID and the wallet you used for the operationAs you are interacting with a VeChain application, the application sends the signing request to Sync which will automatically pop-up a signature panel and request you to sign the transaction/content. On the left side of the signature panel shows the transaction summary, number of clauses and the description of each clause. On the right side, you can select which wallet is going to sign the transaction and transaction priority. You should always check the transaction details before entering the wallet password for signature.Transaction signingIn addition to signing a transaction on the VeChainThor Blockchain, you may be requested by applications to sign a certificate through the same signature panel. These certificates are a message signing based mechanism which requests you to provide your wallet address or to agree to the terms of agreement for the application.Certificate signingVeChainThor Wallet Application BrowserMobile experience has become so dominating nowadays that most people prefer to access applications on their smartphones than desktops. In the VeChainThor Mobile Wallet 1.4 which is available for update, we have added the VeChain Application Browser so that users can access VeChain Applications on the go. Users will be able to access the applications on VeChainWorld if they are compatible with the specific mobile device. So if you are developer and submitting an application, please indicate if it is compatible with mobile device to get more user exposure.Developer Information CenterThe Developer Info Center is designed for developers to find documentation, tutorials, tools, and sample code they may need to build on the VeChainThor Blockchain. The Developer Info Center covers documentation related to the VeChainThor Blockchain, dApp development, smart contract development best practice, step-by-step guides, introduction of development tools, VeChain’s turnkey solutions, hardware, and more. Check it out now.We encourage developers to contribute new documentation, tutorials, tools through our developer academy bounty. You can also make corrections or enhancements to the existing documentation directly in the developer info center via the “suggest edits” button on the top right corner of each page.ForumIn order to make the VeChainWorld a one stop source of useful information relating to the VeChain Ecosystem, we are launching a ecosystem forum. The forum will consist of:Announcements — Stay update to date with latest VeChain official announcementsAccelerator and bounty program — Apply for the accelerator and bounty program to get support for your projects built on the VeChainThor blockchain or claim bounty tasks to win some rewardsVeResearch — Learn about VeChain’s VeResearch program and its outcomes, including research partners, research topics, academic papers, published articles and technical write-upsGeneral discussion — have constructive discussions relating to ecosystem building, share ideas and get support from other ecosystem buildersDevelopment and technical discussion — have discussions about the development on VeChainThor blockchain and VeChain technologies, share your development experiences and get support from other developersEnjoy exploring!
19. 04. 17
Sergio Mottola, Chairman, C...
Sergio Mottola, Chairman, CEO and Director of the Scientific Committee of San Marino Innovation, Featured at the 2019 VeChain SummitVeChain is delighted to announce that Sergio Mottola, Chairman, CEO and Director of the Scientific Committee of San Marino Innovation, will join the speaker lineup of VeChain Summit. Born in Milan with an Anglo-Saxon educational background, Mr. Mottola is an expert in business strategy, digital transformation, technology and open innovation with over fifteen years of experience abroad before his return to Italy taking a leadership role in San Marino Innovation, the Republic of San Marino Innovation Institute S.p.A.Sergio is responsible for coordinating and managing complex business transformation projects, with a clear vision and a concrete approach oriented towards the future. He holds a degree in International Business, a master degree in Finance and Strategy at Cass Business School in London, where he continues his research as an Executive PhD focusing on the role of the State in the growth and creation of innovation ecosystems, digital growth strategies, and corporate decision-making.As a government official from San Marino with a strong tech background, he’s the ideal speaker to introduce insights about what San Marino as a country is transforming into, how San Marino will provide legislative support for the adoption of blockchain technology, and how blockchain technology can thrive with the support of San Marino to create value for the real world, and how blockchain technology will reshape the world we know it.About San Marino InnovationSan Marino Innovation is a Government Company fully owned by the Republic of San Marino and it has the mission to drive economic development through open innovation initiatives, grow the tech ecosystem and the presence of San Marino as an Innovation Hub internationally. The Institutes prerogative is to advance legislative proposals to the Government achieving various objectives and act as an Authority in the Innovation and Blockchain Ecosystem.San Marino Innovation is also responsible for the Republic’s Digital Agenda and its implementation.
19. 04. 10
VeChain, DNV GL and Norway ...
To assist superior Norwegian products, such as seafood, supplements, water, or home furnishings enter into the Chinese market, VeChain, DNV GL and Norway In a Box are working together to build a trust platform enabling consumers from China to enjoy high-quality products produced in Norway, as well as other Northern Europe countries. In the collaboration, Norwegian seafood will be the first batch of products integrated into the shopping platform.https://medium.com/media/d91d0b03a71ad8cc850744cd3219863c/hrefGuaranteeing the safety of imported foods into China has been a major challenge, even in the digital age. Like with many products, validating and verifying the origin is complex using previously existing technology. For a product to have true traceability, the answer has come in the form of blockchain technology, enabling immutability of data and transparency in the supply chain with data collection assured by third-parties.It was once a complex challenge to ensure that government mandated guidelines for safety and efficiency were met. Three companies have now banded together to bring fresh food to the people of China from Norway, including VeChain, DNV GL, one of the largest business assurance companies in the world, and Norway In a Box, an aggregator and exporter of superior Norwegian products.DNV GL’s app My Story™ launched via the VeChainThor Blockchain platform in January of 2018 as a digital assurance solution for food and beverages. The partnership between DNV GL and VeChain allows brands to share the life of their products, allowing consumers to see a product’s origination and lifecycle transparently.By using this VeChainThor Blockchain powered platform from VeChain, consumers can scan a QR code attached to a product and experience that products story. With the VeChainThor Blockchain, each product has its own unique ID. Top Italian wine producers were the first to implement and use this new and unique innovation. The My Story™ implementation within the respective industries continues to take on new hardware, software, business processes, and safety measures as its users, brands, and suppliers adopt and become educated on blockchain technology as applied to their specialization.In November 2018, Bright Code, a localized version of My Story™ alongside Bright Foods, was introduced at CIIE. Bright Code utilizes the technology provided by VeChain to build a consumer confidence index. In April 2019, a batch of milk products produced by Bright Foods will be the first of many batches of products to be launched on Bright Code.So, why blockchain? With blockchain, verifiable facts related to the product are registered throughout its entire history. When those moments are captured on a public blockchain, it offers a ledger that cannot be changed. There are multiple points of information that can be captured in the product’s story, including product quality, authenticity, origin, workers’ rights, animal welfare, and ecological footprint. Furthermore, DNV GL audits product information, processes, and activities to validate the data capturing process.With this remarkable tool available, DNV GL and VeChain have teamed together to build a product that would answer the growing needs to import foods with transparency, not only into China, but across the world, with the unique ability to trace its every step, starting from its origin.With the technology built and the processes defined, the next step in the product’s creation is to find sourcing partners that are equally committed to transparency. In this venture, VeChain and DNV GL have partnered with Norway in a Box, which is a cutting-edge supplier of Norwegian foods to the rest of the world. Norway in a Box focuses primarily on sealing fresh food and preserving safety meeting the high expectations for their customers. They only sell products that have been caught, produced, packaged, and sealed in Norway.In the first release of My Story™, the three companies will work on primarily importing Norwegian salmon, among other seafood. Products will be shipped from Norway to China, then they will be available directly through restaurants, as well as through the online shopping platform built by Norway In a Box. Every product using My Story™ will have a blockchain entry marking each step in its journey from the moment the fish was caught all the way to the moment it was packaged. The solution will continue to evolve, adding new features, transparency steps, and products as it scales.With a simple scan, buyers and consumers will be assured of the product’s freshness by Norway in a Box, validated by DNV GL. This collaboration in product transparency is a new approach to battling food safety issues in China.Take a tour of Norway in a Box’s product page to see what other foods can be sourced.This VeChainThor Blockchain application is just one more way in which blockchain technology is able to solve real-life problems in modern supply chains. Whether it is fresh foods or wine, every product has a story to tell. Now every consumer can feel confident that these goods are fresh and safe with the VeChainThor Blockchain.
19. 04. 08
Sid Mofya, COO and Director...
The VeChain Summit 2019 is quickly approaching! On April 18th, be sure to be in attendance and experience our latest addition to our packed Featured Speaker list, Sid Mofya the COO and Director at the Draper Venture Network (DVN).Sid boasts extensive experience in investment and advisory services, formerly serving as Corporate Liaison at HJF Medical International Inc, a Member of Advisory Council at LIONS@FRICA, and the Board Chair at the Kalene Education Fund.Currently, Sid is working as the COO and Director at the Draper Venture Network. Initially formed in 1990, the Draper Venture Network is a one-of-a-kind alliance of twenty-two independent venture firms spreading across the world’s key technology innovation centers and the world’s largest economies. With a collective two-billion dollars in managed assets, Draper Venture Network boasts over eight hundred portfolio companies. Sid’s role, in part, is to oversee the coordination of funds and providing post-investment support to portfolio companies.Sid adds to the commitment of VeChain to inspire all that attend the Summit and achieve the 2019 mission “creating valuable transactions”. To that cause, we have gathered the best and brightest minds in blockchain development and enterprises crossing multiple industries. These are people making a difference in blockchain’s mass adoption through the VeChainThor Blockchain. Join them as they discuss what’s next in this evolving industry, how you can be involved, and how VeChain can support you as you build.With such added prestige, experience, and expertise in his craft, Sid brings an impactful voice to the topics presented at the Summit. Be sure to join Sid and countless others to dive deeper into the world of investment, global partnerships, and the VeChainThor Blockchain.If blockchain and its utilities are part of your present or future, this is a must-attend event, as it will be filled with insights from Sid and other experts in the field. Register to attend today and see the future of the VeChainThor Blockchain and how you can be involved!
19. 04. 03
VeChain, DNV GL, and Haier ...
Empowering the clothing lifecycle management system with blockchain and IoT TechnologyOn April 1st, 2019, the “Global Release of the Achievements of COSMOPlat Industrial Internet Eco Brand Platform” event was held (by Haier) at the Hannover Exhibition Center to showcase the latest technological achievements of Haier and introduce newly formed ecosystem partners through their COSMOPlat Platform. COSMOPlat is the ecological backbone of Haier, operating as an open industrial internet platform with independent intellectual property rights making it the first ever platform for third parties to participate in the entire industrial process.Mr. Tao Bailiang, Counsellor of the Chinese Embassy in Germany, Mr. Eicke R Weber, Academician of the German Academy of Engineering and Director of the Fraunhofer Institute for Solar Energy Systems, Mr. Francisco Betti, Head of WEF Future of Production, and Mr. Chen Lucheng, Vice President of Haier Home Appliances Group, were in attendance.Mr. Zhang Weijie, Executive Director of Haier Institute of Industrial Intelligence and General Manager of Intelligent Manufacturing of Haier Electrical Appliance Industry Group, Mr. Luca Crisciotti, CEO of DNV GL Business Assurance, and Mr. Jerome Grilleres, General Manager of VeChain Europe presented the Signing Ceremony of the Tripartite Strategic Partnership on behalf of Qingdao Haier Washing Machine Co. Ltd, DNV GL, and VeChain. The three parties will join hands in integrating the VeChainThor Blockchain-based clothing traceability solution into Haier IoC facilitating the Digital Carbon Ecosystem (DCE). The VeChainThor Blockchain will become a core technology in which the COSMOPlat open platform members operate with.The partnership is created to facilitate the deployment of My Story™, which is co-developed by DNV GL and VeChain, into the clothing industry. The partnership also integrates DCE with Haier IoC platform, the first apparel lifecycle management platform in the world. The breadth of the Tripartite Strategic Partnership looks to utilize public blockchain technology in all applicable use cases within the lifecycle of clothing and clothing management. The next noted use cases include smart shopping, smart inventory management, and tracking using the VeChainThor Blockchain.Signing Ceremony at Hannover Messe 2019. On the left: Luca Crisciotti; in the middle: Mr. Zhang Weijie; on the right: Mr. Jerome GrilleresIn the introduced partnership, Haier is responsible for coordinating its user resources, facilitating the deployment of VeChainThor Blockchain-based My Story™ in the clothing industry through Haier IoC, applying the carbon reduction model created for the Digital Carbon Ecosystem (DCE) to Haier Washing Machines, thus enriching DCE and promoting a carbon-efficient lifestyle. Haier Group is one of the largest collective multinational consumer electronics and home appliances company in the world with approximately $40 billion in annual revenue. Among its brands, Haier also owns GE Consumer & Industrial, Fisher & Paykel, Hotpoint and Candy Group. Haier IoC, or Internet of Clothing, is a platform which can potentially generate billions of business transactions a year for their users.As an independent third party, DNV GL will be responsible for providing verification and consulting services to Haier and VeChain regarding business model, process control, and technical interfaces. All the data stored on the blockchain will be verified by DNV GL, thus ensuring its authenticity. DNV GL will also be responsible for the verification and distribution of the carbon credits in DCE.VeChain is responsible for providing blockchain tech support and consulting services, facilitating the development of Haier’s IoC platform, developing carbon reduction and carbon credits applications that can integrate with DCE for Haier Energy Efficient Washing Machines, and providing VeChainThor Blockchain-based or traceability/anti-counterfeiting solutions for the apparel enterprises within Haier IoC Ecosystem.Haier Internet of Clothing Area at Hannover Messe 2019“Haier is committed to promoting the development of apparel-related industries by leveraging advanced technologies, the strategic partnership between Haier, DNV GL and VeChain will add impetus to the development of Haier’s business.”Mr. Zhang Weijie, Executive Director of Haier Institute of Industrial Intelligence“Thanks to Haier and DNV GL, we were able to bring blockchain technology to the enormous market of clothing and laundry without the joint efforts of the three parties, we wouldn’t be able to make such a remarkable achievement. Together with our partners, VeChain will continue to explore application scenarios for blockchain technology, and empower the real economy.”Jerome Grilleres, General Manager of VeChain EuropeAs of now, MyStory™ has been deployed in multiple projects within Haier IoC by scanning the QR code attached to the clothes, consumers can get detailed information about the product from provenance to store, such as raw materials, manufacturing process, design, and brands. The Tripartite Strategic Partnership will continue to expand upon the integration and use cases of the Haier IoC system utilizing the VeChainThor Blockchain.Numerous world-class enterprises are now operating on Haier IoC platform empowered by VeChainThor Blockchain, IoT technology, and MyStory™, thus integrating the network of farmlands, factories, stores, and consumers seamlessly, expanding blockchain adoption to industries such as clothing, household textile, laundry, printing and dyeing, and the Internet of Clothing. On top of that, by deploying the carbon efficient model, Haier has, for a second time, given full play to its strength and further promoted a greener lifestyle. With the VeChainThor Blockchain, which features security and efficiency, and the support from third-party certification body DNV GL, Haier IoC will pioneer the disruption of the industry and the development of a win-win ecosystem.
19. 04. 02
Dr. Dan Boneh, Professor an...
Need one more reason to register for the 2019 VeChain Summit? Then, the addition of Dr. Dan Boneh of Stanford University should be all you need to save your spot. In just a few weeks, community members, developers, enthusiasts, and enterprises will gather at VeChain’s first summit in Fort Mason, San Francisco. So, you don’t want to miss your opportunity to hear from Dan Boneh.Dan has had an illustrious career as a professor of computer science and cryptography at Stanford University. He’s been a pivotal figure in security and cryptography industries, working on many high-profile projects. As co-director of the Stanford Computer Security Lab, he leads the Applied Cryptography Group within the Computer Science department. His efforts have focused on applications of cryptography in computer security. He earned his Ph.D. from Princeton University before joining Stanford in 1997.Dan’s work in the industry includes an impressive list of awards and publications. He was elected to the U.S. National Academy of Engineering in 2016 along with being named a Fellow of the Association for Computing Machinery the same year. In 2014, he was honored with a ACM-Infosys Foundation award as well as a ACM Prize in Computing. For his work on the Boneh-Franklin scheme, an identity-based encryption system, he won the Gödel Prize in 2013. He received an RSA Award in 2005.Dan has authored hundreds of articles in the field, including publications on privacy-preserving proofs of solvency for Bitcoin exchanges and efficient identity-based encryption. He was named a Packard and Alfred P. Sloan fellow.His prestige in the industry is unparalleled, so if you want to hear from one of the most prominent and distinguished professionals in the industry, then the opportunity awaits you at the Summit.VeChain is excited to inspire all that attend the Summit, helping us to achieve our 2019 mission to create valuable transactions. To accomplish this, we want to support and build our developer community. That’s why we’ve put together the Summit. We’re gathering the best and brightest minds in crypto and blockchain, and the people making a difference in blockchain’s mass adoption through VeChainThor Blockchain to discuss what’s next in this involving industry.If blockchain and crypto-assets are part of your present or future, this is must-attend event, as it will be filled with insights from Dan and other experts in the field. All you need to do now is get your hands on those tickets by registering to attend today, and see where the future of VeChainThor Blockchain is heading!
19. 03. 28
VeChain Financial Executive...
We are excited to present the sixth VeChain Foundation Financial Executive Report. This financial report covers November 2018 through January 2019. In this period, we reflected on the achievements of 2018 and envisioned the exciting things down the line in 2019. The VeChainThor platform stayed vibrant and achieved significant progress in supporting the long-term growth of the ecosystem.As advised by our professional financial service provider, starting from 2019 we will restructure the contents of the quarterly financial executive report to make the information more clear and streamlined. As always, we sincerely welcome the community to hold us to the commitment of transparency, the rigorous monitoring and usage of funds, and the development process of all aspects within the VeChain Foundation.The new report structure is as follows:1. VET Supply Overview2. VeChain Foundation Expenditure (use of proceeds)3. Notesi) Enterprise Investor Poolii) Co-Founders, Development Teamiii) The Operation, Technological Research and Developmentiv) Business Developmentv) Compliance & Legalvi) Ecosystem Development1. VET Supply OverviewThe VET total supply on the VeChainThor Blockchain is 86,712,634,466. As of Jan 31, 2019, the VET circulating amount is 60,231,133,910 which accounts for roughly 69% of the total supply. The VET circulating supply increased by roughly 2% since the previous quarterly financial report.2. VeChain Foundation Expenditure (use of proceeds)We summarized below the USD value of the expenditure in fiat or BTC/ETH for the reporting period. For the spending in BTC or ETH, the USD value was booked based on the rate when the transaction occurred. We continue to see many situations where clients, and potential partners, inquire about the option to acquire goods services and the opportunity to fund/invest in technology with VET compared to using fiat or BTC/ETH. Therefore, the total expenditure for operation, technological and business development comprises a combination of direct VET payment and use of proceeds (fiat, BTC/ETH) depending on the associated parties’ preference.3. Notesi) Enterprise Investor PoolWhile during this reporting period the crypto market touched the lowest point since the hype at the end of 2017, quite a few venture capitals actually see this as a good entry point into this space. We continued evaluating the offerings on hand and are looking for institutional partners who could bring fundamental change, or value, to the long term development of the ecosystem. While most of our business partners acquire VETs on the open market, 50 million VET were purchased from this pool by our strategic institutional partners who are looking at holding the VET for their long term purposes.ii) Co-Founders, Development TeamIn this period, the Foundation distributed 627 million VET as sixth quarterly rewards to the team. While many projects shrank the team in the bear market, VeChain took this opportunity to recruit more talent to expand and optimize the team. During this reporting period, 11 full-time employees joined us in tech, operation, project management and product teams, including new official members in Europe and the USA. Same as previous periods, the executive team will continue locking up 100% of their rewards gained in this period for two years, starting from the moment of distribution.iii) The Operation, Technological Research and DevelopmentAs stated in the 2019 outlook, we have been focusing on enabling the developer community by promoting the VeChainThor Blockchain features and building tools to facilitate the application development in the ecosystem. The development team spent months developing the New Sync, a VeChain application browser and Connex, a newly defined standard interface connecting dApps with the VeChainThor Blockchain and users. With the New Sync and Connex, users can now seamlessly access applications built on the VeChainThor Blockchain. We are also delighted to see the contribution from community developers — the launch of Comet and CometVerse by Totient Labs set a good example of how developers could frictionlessly on-board users who were never involved in crypto.Also, following the VIP 180 — fungible token standard, we published VIP 181- non-fungible token standard for developers to follow and create non-fungible tokens on the VeChainThor Blockchain. As an ideal scenario to implement the VIP 181 NFT standard, we tokenized the status of VeChainThor Economic (X) Nodes and allowed any third party developer to integrate the VeChainThor Node tokens.Economic Nodes Reward Pool Change — as stipulated in the whitepaper section 3.6, the VTHO reward pool for economic nodes reduces by 2.5 billion VET every six months from the start of node monitoring (i.e. Sept 1 2018). The first reduction occurred at noon UTC+8, March 1, 2019 and returned to the Foundation’s reserved pool for business development, operations and R&D.iv) Business DevelopmentIn this period, the VeChain team managed to sign a few renowned partnerships which will lead to more enterprise blockchain applications on the mainnet. VeChain was invited to the first ever China International Import Expo alongside DNV GL, and showcased solutions such as cold-chain logistics, supply chain management and digital carbon ecosystem. We were also very excited to see the launch of MyStory, the first public blockchain based enterprise application launched by a 150-year-old professional service firm, DNV GL, to disrupt its third-party assurance service model.Announced partnerships and collaborations (Nov, 2018 — Jan 2019 )Invest Cyprus (Nov 2)Fuji MARUMO Tea Garden (Dec 5)MIT Media Lab (Dec 6)Baijieteng Technology Corporation（Dec 26）Highlights from the community and marketing events (Nov, 2018 — Jan 2019)VeChain released Technical Deep Dive Season 2 and 3 (Nov 3)VeChain showcased multiple blockchain solutions at the First Inaugural China International Import Expo alongside DNV GL (Nov 5)Sunny Lu attended the launch ceremony of “Bright Code” Platform (Nov 10)Sunny Lu attended the “blockchain technology” seminar with Dan Noneh, Stanford University professor, at the “2018 Future Science Awards Ceremony and F2 Science Summit” (Nov 17)Netease interviewed Sunny Lu on the blockchain development and community governance (Nov 19)VeChain General Counsel Scott Brisbin accepted the “Global Scaling Award” issued by Draper Dragon (Nov 20)Mike Zhuang attended the “P.O.D New Block Trend New Trends” Blockchain Summit, and participated in the round table on “how blockchain technology empower real economy” (Nov 28)Kevin Feng delivered a speech of “The future role and development trend of blockchain” at Hong Kong blockchain summit 2018 (Dec 12)VeChain was awarded as the top of the best performed blockchain apps jointly issued by 8BTC and TokenInsight (Jan 4)DNV GL launched MyStory on the VeChainThor blockchain, aiming to build digital trust in the origin of products. Three Italian winemakers are the first to use the blockchain-powered digital assurance solution (Jan 11)VeChain was selected as “the most valuable commercial application in 2018” by the Cointime (Jan 18）Sunny Lu attended the live show “Ask me anything” hosted by TokenGazer, and shared observation and opinions on VeChain ecosystem, governance model, blockchain technology development trend, etc (Jan 17)Renato Grottola, member of VeChain Foundation Steering Committee and senior vice president of DNV GL attended the blockchain expert group meeting held by the Italian Ministry of Economic Development to discuss Italy’s national blockchain strategy (Jan 21)General Manager of SE Asia & Australasia, Sarah Nabaa attended the first Binance blockchain week, and made a speech on “The next decade — driven by business value” (Jan 22)The Norwegian delegation visited VeChain for an in-depth look into VeChain progress on technology development, blockchain application (Jan 23)VeChain, together with Logsafer and PICC attended the Belt and Road logistics innovation seminar hosted by Chang Chun International Land Port (CCILP). VeChain Sales Director Yujie gave a speech on the brand new blockchain based insurance model for logistics industry (Jan 30)v) Compliance & LegalVeChain continued enhancing our enterprise blockchain solutions to make it ready for commercial usage. We engaged consultants and service providers to perform risk assessment from compliance and financial perspectives, which helped us polish the products. As usual, before releasing the VIP181 NFT standard and VeChainThor node smart contracts, we engaged SlowMist to audit the security of the source code.vi) Ecosystem DevelopmentVeChain focused on investing in infrastructure solutions and services to make the platform friendlier to the developers. At the same time, VeChain has been actively looking at more ecosystem projects running on the mainnet which choose to raise the majority of their funds in VET.
19. 03. 20
AWS Services Enable One-Cli...
Blockchain as a Service (BaaS) on AWS, coupled with compliance certification services from DNV GL, to facilitate quick, secure and compliant use of blockchain technology to support business processes and activities.VeChain, the world’s leading enterprise friendly public blockchain platform, announced they are launching an integrated one-click solution into AWS Cloud allowing a host of enterprises to deploy quick, secure, and compliant blockchain applications.Official announcement from AWS in Chinese, click the link below:唯链借助 AWS 平台，让企业一键部署区块链应用！VeChain’s Blockchain-as-a-Service (BaaS) solution was initially launched in 2016. The solution combines NFC+RFID chips, blockchain encryption, identity verification technology, Internet of Things (IoT), cloud computing, and traditional enterprise IT services to provide a comprehensive IT solution utilizing blockchain technology. Customers cover a range of industries, from producers of consumer goods to manufacturers in the automobile, transportation, food, and agriculture sectors. Notable users of the pre-existing services including BMW, BYD Auto, BrightFood, DB Schenker, and D.I.G.With this one-click solution, VeChain’s BaaS solution will use AWS CloudFormation to enable their customers to deploy in one click, eliminating the cumbersome manual deployment associated with the emerging industry. In this solution, VeChain is also adopting:Amazon Elastic Compute Cloud (Amazon EC2) to deploy the VeChainThor mainnet to allow data uploading and smart contract deployment.Amazon Relational Database Service (Amazon RDS) for data persistence and cost reduction. Deployment of Amazon Redshift will improve data analysis efficiency for enterprise customers, connecting the enterprise ERP system with the blockchain system to conveniently call smart contracts, and upload data through standardized APIs.Amazon EC2, Elastic Load Balancing, and Amazon CloudFront on the application front to collect raw data from systems such as ERPs. At the back end of the applications, Amazon RDS will store and upload data to the blockchain through the interface.As an AWS technology partner, VeChain joins the AWS Partner Network (APN) and will receive business operations, technology development, and marketing support.“We welcome VeChain to join the AWS Partner Network and deploy the leading-edge BaaS solution on AWS, AWS provides rich security capabilities and services, extensive compliance certification, and a global infrastructure. The AWS Blockchain Templates were introduced in 2018, allowing customers to quickly and easily create and deploy secure blockchain networks using popular Ethereum and Superbook open source frameworks while minimizing human error. We hope VeChain, and its customers, will accelerate the pace of innovation and continue to sharpen their competitive advantage with these features.”— Alex Yung, corporate vice-president and managing director of AWS Greater China.VeChain’s BaaS solution gains additional competitive advantages as they hone in on compliance and security through DNV GL’s compliance process and system architecture, as well as best practices in digital verification and information security. As VeChain’s strategic partner, DNV GL provides security and compliance certifications to VeChain customers. Founded in 1864, DNV GL is a global quality assurance and risk management company, providing the world’s leading third-party certification services.“AWS has achieved dozens of third-party certifications including ISO 27017 Cloud Security, ISO 27018 Cloud Privacy, SOC 1, SOC 2, SOC 3, and PCI DSS Level 1, providing strong and essential support for the secure certification of VeChain’s BaaS solution.”— Bo Huijie, marketing director, business assurance, DNV GL Greater China.VeChain cooperates with world-leading network security companies and third-party service organizations to conduct comprehensive security testing. VeChain refers to global security standards, including ISO27001, GDPR in the European Union, and China’s network security law, for product and internal control processes.“AWS is the world’s leading cloud service platform with extensive security compliance certifications, static and dynamic data encryption, hardware security modules, and strong physical security, we can provide compliant blockchain solutions based on AWS for customers around the world. We plan to deploy more services and industry solutions on AWS to help enterprises build safer and more convenient IT infrastructure.”— Gu Jianliang, VeChain CTO
19. 02. 18
VeChain Expands the Team in...
19. 02. 15
Announcing the VeChain Deve...
As VeChain’s mission for 2019 is creating valuable transactions, enabling and building the developer community is one of the critical tasks to achieve it. The VeChainThor public blockchain is designed with mass adoption in mind, which means it is designed for the developer and their users. On top of keeping the Ethereum Virtual Machine to lower the barrier for smart contract development, VeChainThor blockchain is packed with unique features such asProof of Authority (“PoA”) Consensus for scaling and increased securityDual-token economic model for projectable expensesMulti-party payment protocol (“MPP”) so anyone can get the full value of the technology without the need of a cryptocurrencyMulti-task transactions (“MTT”) to reduce cost and increase contract flexibilityTransaction dependency to sync a series of transactions that occur if conditions are met on chainOn-chain governance for verifiable votes and code is law action plansAll these features aim to ameliorate the blockchain industry and increase adoption by developers and their users. (For more details about VeChainThor blockchain features, please see the GitHub Wiki)Now users can choose to access VeChain applications (either Connex or web3.js) via the New Sync, an integrated VeChain application browser built by the official team or the Chrome extension — Comet built by Totient Labs, and more to be expected to come from community teams. With the release of Connex v1.0, the native standard interface connecting applications with the VeChainThor blockchain and users, we have already seen some good developments of VeChain applications.In order to boost the application development and make people aware of VeChainThor blockchain’s features, we are excited to announce three ongoing developer bounties and the Application Development Challenge. This challenge, entitled VeChain Application Development Challenge leading up to the VeChain developer conference — VeChain Summit 2019 scheduled on April 18 at Fort Mason, San Francisco, will have a total reward pool of 40M VETs. Teams will also be showcased by the Foundation and ecosystem builders to various enterprises and funds that are looking to bolster their influence within this space.1. Application Idea Hunt — let us know your application development idea and plan and be rewarded with 100K — 1M VTHO for an easier start for the development2. VeChainThor Supercharger — plug in your MPP-enabled application to the VeChainThor Supercharger, a program that sponsors the user transaction fee of your developed application for one month3. Developer Academy Bounty — share your experiences with application development on VeChainThor blockchain in documentation/scripts/tools that make life easier for the developers that follow4. Application Development Challenge — 5 favorite applications voted by the community by April 12th and 3 Connex compatible applications selected by the Foundation will be announced in the 1st VeChain developer conference and share a total reward pool of 40M VETsJoin our developer Gitter and Discord and start building now!DETAILS AND RULESDeveloper BountiesTo help developers who want to participate in the VeChain Application Development Challenge, we would like to introduce three developer bounties as follows. They will be available as ongoing bounties, even past the duration of the competition. We are currently working to add more bounties in the future.1. Application Idea HuntSubmit your idea and apply for the bounty HEREReady to make your creative ideas into applications running on the VeChainThor blockchain? Let us know your idea and plan, and get some VTHO for a boosted start. You could be granted between 100K and 1M VTHO upon on the Foundation Assessment Team’s judgment from the following perspectives.The originality of the ideaNativeness on VeChainThor blockchainDevelopment experience of the teamValue to the ecosystemPlan for product development, user acquisition and expansionThe VTHO granted in this bounty is intended to help with the development and attract initial users. Applications that have completed the development should apply for other bounties and the Application Development Challenge. A submission may not be accepted if it is determined by the Foundation Assessment Team to not contribute to any of the above criteria or is deemed as duplicated, abuse or fake information. The Foundation Assessment Team consists of VeChain’s key technical team and operation team.Submit your idea and apply for the bounty HERE. If accepted, you will receive an email and the granted VTHO on your submitted address within 5 business days.2. VeChainThor SuperchargerSubmit the information about your MPP-enabled application and apply for the bounty HEREWhen you design your application, don’t forget to integrate VeChainThor blockchain features to help you create smoother user experience. Among those features, Multi-party Payment is the most talked about one, as it allows application operator smart contracts or delegated 3rd party addresses to pay for transactions fees on behalf of their users. It significantly helps onboarding users to the application without friction. Exchange sign ups and transaction fees can deter those who have not yet fully engaged with the application or the blockchain protocol.MPP enables fee delegation at the meta-transaction level, making it secure and convenient for users, application operators, and 3rd party service providers to collaborate. Therefore, to set the example, VeChain Foundation will sponsor the transaction fee of MPP-enabled applications for one month (with the max cap of 3M VTHO per application) starting from a preferred date of the application developer. By this way, an application can cover and delegate its user’s transaction fee to the VeChainThor Supercharger (i.e. sponsor address).Submit the information about your MPP-enabled application and apply for the bounty HERE. Please note a version of your application with MPP function enabled should be live on the VeChainThor mainnet before you apply for the bounty. The Foundation Assessment Team will verify whether the application has properly integrated MPP before getting in touch with your team.We reserve the rights not to accept an MPP application or terminate the sponsorship before the bounty ends, if, determined by the Foundation Assessment Team that the submission violates the rules or is deemed as duplicated, abuse or fake information.3. Developer Academy BountyNow that you have the experience with application development on the VeChainThor blockchain, we would like to sincerely invite community developers to help us create and optimize the developer documents, tool sets, and scripts related to your applications and the VeChainThor public blockchain. We see your collaboration as a way to share resources and ideas, and to achieve the developer-friendly ecosystem necessary for a widely used public blockchain.If you have something, including but not limited to: technical tutorials, technical description documents, self-developed tool/scripts and others, created during the development of application, that you think would be helpful to other community developers please submit HERE.Based on the quality of the submission, the Foundation Assessment Team will determine acceptance and grant at least 25,000 VET per successful submission. For similar submissions, we will reward those based on their added effort as deemed by the Foundation Assessment Team. Additive improvement submissions to content publicly visible as a result of the Developer Academy Bounty submission can also be submitted to receive a reward as deemed fit by the Foundation Assessment team, such as grammar fixes and general updates. Successful submissions may be incorporated into the upcoming developer portal.VeChain Application Development ChallengeJoin the Application Development Challenge and submit your application HEREWe hope that the above developer bounties provide the needed support that motivated and opportunistic developers are seeking. Our goal is to provide a boosted start to qualified application development and start using our resources to help you attract users and get exposure to investors and developers to further expand a potential application and business.We tailor fit our initial bounty programs with a development challenge in mind. As you plan, design, and document your applications, we want to support you along the way. When your application is live on the VeChainThor mainnet, we encourage you to submit it HERE. By doing so you join the Application Development Challenge and will further let more of our community members experience and contribute to your project on top of potentially winning some VET.In the VeChain Application Development Challenge, both the community and the Foundation Assessment Team will select their favorite applications which will share a total reward pool of 40M VET!On April 1, a list of submitted applications will be published for community voting. You can still submit the application after April 1, and it will be will added to the list within 24 hours if it does not violate the rules. The community voting will be concluded based on the result at 11:59pm UTC+8, April 12th. Applications submitted after this time will not be eligible for this challenge.Once the community voting is concluded, the Foundation Assessment Team will evaluate all eligible applications and select the top 3 applications to win the Foundation Awards. The focuses of the evaluation include value to the ecosystem, user experience, originality, nativeness on VeChainThor blockchain and the plan for further development. In addition, only Connex compatible applications are eligible for the Foundation Award and the winners are not eligible for Community Awards.1st prize: 12M VET2nd prize: 8M VET3rd prize: 5M VETApart from the Foundation Award winners, the top 5 favorite applications based on the community voting result will win the Community Awards.1st prize: 5M VET2nd prize: 4M VET3rd prize: 3M VET4th prize: 2M VET5th prize: 1M VETNote: Because the Foundation Award winners are not eligible for the Community Awards, if one of the applications in the top 5 community voting is picked by the Foundation Assessment Team, the next application on the list will be entitled for the Community Award.All the prizes will be announced during the VeChain Summit 2019 on April 18.Submitted applications will be added to the VeChain application store that will be launched soon.Once the Challenge is finalized, be sure to continue taking advantage of our bounty programs as you scale your applications.Overarching Rules for the Developer Bounty and Application Development ChallengeA qualified VeChainThor application could be an application, usually web-based or mobile app, that can be accessed by users to interact with the VeChainThor blockchain, e.g. dApps powered by smart contracts, tools or infrastructure useful to the developers, applications integrating VET / VIP180 token payment or VIP181 NFT transferThere is no limitation or preference on the category of the applications for the Developer Bounty or Application Development Challenge, the application categories may include but not limited to Business, Finance, Social Networking, Entertainment, Developer tool, Infrastructure ServiceApplications developed before this announcement are eligible, while applications that have previously raised funds through token issuance are not eligibleDevelopers own the applications developed and are solely responsible for the legality of the applications in relevant jurisdictions at every stage of the challenge and its completionThe Awards do not construct any endorsement from VeChain Foundation or the VeChain company to the developed application, its development team, or the security related to the use of the submitted applicationThe rewards will be paid in VET or VTHO only, and the participants should check the regulations surrounding the legality of ownership or compensation of digital tokens/ cryptocurrencies in your respective countries of residenceThe Developer Bounties and Application Development Challenge considers a number of variables in determining rewards. Determinations of eligibility, score, rewards and all terms related to an award are at sole and final discretion of the VeChain Foundation Assessment Team assigned by Steering Committee, featuring Sunny Lu (VeChain CEO), Bin Qian (VeChain Lead Blockchain Developer), Jiangliang Gu (VeChain CTO), Peter Zhou (VeChain Chief Scientist), and Kevin Feng (VeChain COO)VeChain reserves all rights to amend the conditions without any prior notice in writing and the VeChain’s decisions will be deemed finalWhile we do not limit the type of applications submitted, applications fitting the following attributes could be favored by the Foundation Assessment Team in the Developer Bounties and Application Development Challenge due to its value to the ecosystem and alignment with VeChain’s focus and strategyi) utilizing VeChainThor’s features such as multi-party payment, multi-task transaction, transaction dependencyii) integrated with Economic (X) Node smart contracts and benefiting X node holders e.g. Node status token management platform, market, or applications leveraging the node statusiii) compatible with Connexiv) providing infrastructure services which enable other developers or applicationsv) integrated with the applications or tokens of VeFam projectsFURTHER READING — VECHAIN DEVELOPER INFORMATION SUMMARYOverallOfficial VeChain GitHubVeChainThor blockchain GitHub repoVeChainThor Wiki & FAQDeveloper Communication ChannelOfficial Developer Discordhttps://discordapp.com/invite/HHvXvUX — for discussion about the dApp development on the VeChainThor blockchainOfficial VeChain Gitterhttps://gitter.im/vechain/thor — for questions / discussion related to projects in the VeChain official Github that you would like to address to the VeChain core dev teamVeChainThor Blockchain CoreVeChainThor blockchain source code and deployment guide — download and deploy a VeChainThor full nodeVeChainThor built-in smart contracts and documentation — introduction on the 6 built-in smart contracts in VeChainThor and how to use themVeChainThor transaction model — documentation on VeChainThor’s unique transaction structure, fields and featuresVeChainThor block structure — documentation on how VeChainThor defines a block in GolangVET/VTHO dual token design — introduction on the VET/VTHO dual token designMulti-party Payment (MPP) — introduction on the functions of the MPP which is an unique feature of VeChainThor (Because the transactions on VeChainThor only consume VTHO, when there is no VTHO in the user’s deposit address exchange could set the exchange system address as the payer for the transaction fee to move funds by leveraging the MPP function in VeChainThor)VeChainThor RESTful API in various presentation — swagger UI, Thorest, thor.yamlPublic VeChainThor Node — to facilitate developers to play around and test the VeChainThorDeveloper ToolsConnex — the newly defined standard interface to connect dApps with the VeChainThor blockchain and users, comparable to web3.js. Connex provides a set of well-designed APIs for developers, and with injected Connex Object in web applications they can easily build dApps. Comparing with web3.js, Connex provides streamlined and lightweight methods for dApps. Connex API referenceTool instruction — instruction on how to use Java Client SDK or Sync for private key management, building and signing transaction, sending transaction, using MPP function, querying blockchain info and confirming transactionThorify repo and API reference documentation — a Web3 adaptor for VeChainThor RESTful API, Thorify is an extended web3 that sends the request directly to VeChainThor’s RESTful API. So if you are writing applications or scripts executing in Node.js or Browser environment, you should use ThorifyWeb3 gear — a tool to proxy VeChainThor’s RESTful API to ETH JSON-RPC, so if you are writing smart contracts using Remix, Truffle or other tools that use original web3, you should use Web3 GearJava Client SDK — a collection of Java codes to interact with VeChainThor and access consoleThor-devkit — typescript library to aid dApp development on VeChainThorVeChainThor Development Environment Setup — This guide will cover the process of setting up your local environment for developing on the VeChainThor blockchain using the standard web3 stackThe New Sync — an integrated VeChainThor dApp browser on desktop, compatible with Connex, a newly defined standard interface connecting dApps with the VeChainThor blockchain and users. the New Sync User GuideVeForge Explore — explorer for VeChainThor mainnet and testnetComet Compatibility Guide — Comet is the Chrome plug-in that can be used by VeChain dApps. While Comet exposes the both standard (thorified) web3 and Connex API, there are few things to keep in mind. This guide includes requirements for Comet support as well as some best practicesMorpheus Lab BPaaS — Morpheus Lab provides an integrated development environment compatible with the VeChainThor blockchainVIP180 token contract addressVTHO: 0x0000000000000000000000000000456E65726779OCE: 0x0ce6661b4ba86a0ea7ca2bd86a0de87b0b860f14PLA: 0x89827f7bb951fd8a56f8ef13c5bfee38522f2e1fSHA: 0x5db3C8A942333f6468176a870dB36eEf120a34DCDBET:0x1b8EC6C2A45ccA481Da6F243Df0d7A5744aFc1f8TIC:0xa94a33f776073423e163088a5078feac31373990VIP 181 token contract addressVeChainThor Node token: https://github.com/vechain/ThorNode-contractsWallets supporting VET and VTHOOfficial VeChainThor Mobile WalletVeChain SyncLedger Hardware Wallet (VeForge Vault) by Totient LabsComet by Totient LabsTrust walletAtomic walletCobo walletArkane network
19. 02. 08
Introducing the New Sync an...
After launching the VeChainThor mainnet our team continued the development needed to enhance the user experience of VeChain dApps and wallets. During the mainnet launch, some of you may have noticed on GitHub a project called Sync. Sync is a desktop user agent and wallet. With Sync we realized that we needed something new that lets users interact with dApps as if they were using applications that were not running on the blockchain. To tackle this issue, our development team spent months building the New Sync. Now Sync is a dApp running environment and wallet for desktop, compatible with Connex, a newly defined standard interface connecting dApps with the VeChainThor blockchain and users. Today, we are so excited to share this with the world as it significantly enhances the dApp development and user experience.The New Sync v1.0The New Sync provides a seamless experience for users and developers. It enables developers and users to focus on the content itself, rather than understanding how blockchain works. e.g., users no longer need to synchronize blockchain data before using it and the transaction process is also simplified. Also, the certificate of identification and agreement functions provide an easy method for dApps to verify the user’s identity and collect user’s consent of dApp terms.The New Sync provides users with another option in addition to the Chrome+Comet method to access dApps on the VeChainThor blockchain. The New Sync encompasses a dApp browser, integrated VeChain wallet, and Connex APIs, which are designed to provide superior user experiences for dApps on the VeChainThor blockchain. It serves as the infrastructure to provide the unlimited potential to developers and their users with the apps that can be accessed in the New Sync. A few projects such as insight (a serverless VeChain explorer), inspector (a tool that allows you to deploy and interact with the contract) and Energy Station (an dApp allows you to exchange VTHO and VET — testnet only) are being developed for New Sync. We welcome developers to create your own apps and contribute to existing projects.Using the New Sync to manage VeChainThor wallets on desktopUsing the New Sync to review contents of the transaction initiated by dApps, set the priority and sign the transaction with the wallet passwordClick here to download the New Sync and check out the New Sync User Guide.Connex 1.0Connex is the newly defined standard interface to connect dApps with the VeChainThor blockchain and users, comparable to web3.js. Connex provides a set of well-designed APIs for developers. With an injected Connex Object into web applications, developers can easily build dApps. Comparing Connex to web3.js, Connex provides streamlined and lightweight methods for dApps. While we will continue the support for web3.js to lower the barrier for developers, we strongly recommend developers to try out Connex and provide us feedback. Comet will also add support for Connex soon.If you are a dApp developer, please check out Connex and the Connex API reference.VeChain Developer CommunityBuilding the developer community is one of the key missions of VeChain in 2019. We will launch a series of campaigns as well as our 1st DevCon to boost the dApp development on the VeChainThor blockchain. Here are channels that you can engage in discussion on development related topics.Official Developer Discord — for discussion about the dApp development on the VeChainThor blockchain with community developersOfficial VeChain Gitter Channel — for questions/discussion related to projects in the VeChain official GitHub that you would like to address to the VeChain core dev teamIf you find any issue or bug or would like to contribute to the GitHub projects, raising an issue or pull request is the best option.
19. 01. 17
A 2018 Reflection and 2019 ...
2018 was a phenomenal year for the development of the blockchain industry and the VeChainThor project. Despite the market condition, our plan of building the decentralized business ecosystem remains unchanged. Since the mainnet launch, we have witnessed the continuous growth of mainnet transactions as a result of increasing enterprise adoption and third party developers on the VeChainThor blockchain. After just recently celebrating the first decade of bitcoin/blockchain we are acutely aware that the next decade will be driven by professionals, enterprise adoption and business value which will be the key driving force for the development of regulatory environment and industry standard.Here is a sneak peek at the 2019 outlook.In 2019 VeChain’s mission is simple — grow the transactions with business value and build infrastructure services around the VeChainThor blockchain to facilitate mass adoption. VeChain has been pioneering small and large enterprises to run their business on the public blockchain infrastructure. Our processes have enabled us to gain a deep understanding of the building blocks needed for mass adoption. In 2019, we target to make these components available for both enterprises and individual developers to leverage.Firstly, we will focus on growing and enabling enterprise applications and dApps supporting real business activities. We will provide not only the developer documentation and tools but also smart contract templates, SDKs and turnkey package templates of those essential components needed for most blockchain application such as wallet, tokenized asset issuance, data storage, digital asset management. By this way developers, startups, and enterprises can plug in those components and focus the efforts on what they specialize in and realize their business ideas.Expanding our partners network including consulting and technology partners across globe and making them experts on VeChain’s technology and solutions is another key mission of ours in 2019. We have created blockchain solutions meeting the needs of enterprises and developers at different levels from zero development to full customization, which tremendously helped us on board enterprise users. In 2019, we will further open up these solutions to users and partners. By leveraging VeChain’s open and modular blockchain services, our partners will be able to reach a significantly broader scope of business owners who would like to use blockchain technology. We believe the real applications will inspire the development of the VeChainThor blockchain infrastructure which in turn enables new applications.In addition, through the collaboration with established enterprises we understand that mass adoption also requires an open and, often times, innovative regulatory and legal environment. Blockchain applications in real business environments would be the key driving force of regulation and legislation development. And VeChain is contributing to that through our collaboration with national governments across multiple regions.While looking into 2019, let’s take a few minutes to recap what we have achieved in 2018.
19. 01. 09
Introducing VeChainThor Mob...
After releasing the VeChainThor Wallet v1.3.0, we received a lot constructive feedback and recommendations. After the assessment, we decided to provide an update, in v1.3.1, to the wallet App and introduce the new “Instant Node Transfer” function as well as other enhancements to the VeChainThor Node tokenization function. The VeChainThor Wallet v1.3.1 will be available for download from Dec 25 UTC+8.Many VeChain node holders would like to transfer the node to Ledger hardware wallet. The Instant Node Transfer will enable users to transfer their node status token to any address in the same wallet app including observing wallet addresses. If you have the VeChain app installed on the Ledger hardware wallet, you can import the VeChainThor address displayed in the VeForge Vault onto the VeChainThor mobile wallet App via the “observe wallet” function.The key difference between “Instant Node Transfer” and “Designated Transfer” is that Instant Transfer DOES NOT require the receiving address to accept the node status token. As a result, the ownership is transferred instantly once the transfer transaction is executed. The receiving address still has to meet the VET holding requirement corresponding to the node type within approximately 4 hours after the transfer transaction is executed.We didn’t include this function in v1.3.0 as we recommend that you use “Designated Transfer” wherever possible so that the receiver knows the exact time window to fulfill the VET holding requirement corresponding to the node type. However, in v1.3.1 we added the support for this function which is a function of VeChainThor Node tokenization smart contracts so that it could work seamlessly with VeForge Vault by Totient Labs.The Instant Node Transfer works as follows:After entering the “Designated Transfer” menu, you can initiate an instant transfer by clicking “instant transfer to another address of your own” at the bottom. You will be shown with a Notice about the Instant Node Transfer function.2. You can select any address including observe wallet address in the wallet App which currently does not own any node status token. When selecting the wallet address, you will also be shown whether the target address currently meets the VET holding requirement corresponding to the node type. If you choose to transfer the node to an address without the required VET holding, you will have to fill the VET requirement within approximately 4 hours after the transfer.3. After you select the target address, you will be prompted with another reminder about the VET holding requirement before inputting the wallet password to sign off the smart contract transaction. The node status token ownership will be instantly transferred to the target address after the transaction is executed.VeForge Vault SupportThank you to Totient Labs for their great support of the VeChain ecosystem. With the Instant Node Transfer function, the VeForge Vault also added the “Collectibles” function which allows users to see their VeChainThor Node on the Ledger hardware wallet address as well as transfer the node status token on other addresses.If you hold a VeChain Economic X Node or VeChain Economic Node on the ledger address, it will be displayed in the “Collectibles” section in the VeForge Vault. Please note that the Node Upgrade function is not available in the VeForge Vault yet, please wait for further announcement on this.The transfer function in the VeForge Vault works the same way as the “Instant Node Transfer” function in the VeChainThor mobile wallet, except that VeForge Vault allows users to transfer the node status token to any address. To initiate a transfer, the node holder needs to input the receiving address, and VeForge Vault will indicate if the receiving address currently meets the VET holding requirement corresponding to the node type.After confirming the transaction on the Ledger, the user can confirm and send the transaction through the VeForge Vault. A notice will be shown to remind the user that the ownership of the node status token will be automatically transferred without the need to accept it.VeChainThor Wallet and VeForge Vault are two user interfaces utilizing the functions of the VeChainThor Node Tokenization Smart Contracts. We hope for more third-party developers to create interesting applications integrating these functions.
18. 12. 25
VeChain Financial Executive...
Transparency, Fairness, OpennessWe are excited to present the fifth VeChain Foundation Financial Executive Report. This financial report covers Aug. 2018 through Oct. 2018. In this period we saw a majority of the token swap activities, as well as system initialization and optimization to support the future growth of the platform and ecosystem. We sincerely welcome the community to hold us to this transparency commitment, monitor the use of funds, and development process of all aspects within the VeChain Foundation.VET Supply OverviewThe VET total supply on the VeChainThor Blockchain is 86,712,634,466. By the end of Oct. 2018, the ratio of the circulating VET supply is 67%, which is roughly 2% larger than what was reported in the previous quarterly financial report.Enterprise Investors — After the launch of the VeChainThor mainnet, more business players have learned about the comprehensive solutions we provide past our core technology. This has made many investors take a keen interest in VeChain. Adhering to our original vision — building a trust-free and distributed business ecosystem platform to enable transparent information flow, efficient collaboration, and high-speed value transfers, we are looking strictly for strategic enterprise partners who bring fundamental change, or value, to the ecosystem. Comparing with the last period, in which we had settled a few major agreements, the amount acquired in this period, ~166 million VETs is reduced because the team focused the effort on the VeChainThor mainnet launch and migration. Although the overall market had been bearish in this period, VeChain still received a multiple investment offers from renowned institutions and Venture Capitals which we will carefully evaluate and explore in the coming periods.Co-Founders, Development Team — In this period, 530 million VETs were distributed as fifth quarterly rewards to the team. The distribution percentage increased slightly in comparison to the last period as the team continues to grow. Eight full-time team members were employed, and five joined the tech team led by our CTO Jianliang Gu. We are also excited to have Flora Wang, Chief Human Resource Officer and Mike Zhuang Chief Strategy Officer join the management team in this period. Same as the previous periods, the executive team will continue locking up 100% of their rewards gained in this period for two years, starting from the moment of distribution.Operation, Technological and Business development — The focus of this period was to be laser-focused on the token swap and mainnet launch. During this period we conducted the largest official community reward program ever for our one year anniversary alongside our token swap and X Node binding. We appreciate the support from the community and were pleased to see the token swap and X Node binding progress. In addition to the community reward, the development work towards the VeChainThor Blockchain, documentation and tools, community building and academic and business collaboration did not slow down. We continue to see the situations where we have been presented the option to acquire goods, services and the opportunity to fund/invest in technology with VET compared to using fiat or BTC/ETH. Though we hold VET for situations in which favor its longevity, we value the opportunity to use it as a means to judge the outside markets sentiment. The overall budget for operation, technological and business development comprises a combination of VET, BTC/ETH, and fiat based on the situations in which funds were used. Please refer to the below sections for more detailed activities in this areas.Token swap update — As of the end of November 2018, approximately 97% of the ERC20 VEN tokens have been sent to an unspendable address and swapped for VET on the VeChainThor Mainnet. We will continue providing the token swap service for the ERC20 VEN token holders who have not swapped their tokens via the VeChainThor Wallet application.VeChain Foundation Expenditure DetailsIn the winter of the crypto market, our top priority is to stay stable and continue building. We are under no threat of instability and have both the current finances, and future investment options, to withstand any further downturn in the market. We are seeing incoming cash flow from the enterprise solutions we provide and expect to see an increase in incoming cash flow across different regions such as China, EU and South East Asia as those enterprise solutions are standardized and matured. In addition, we are carefully evaluating a few investment offers which we believe can bring additional funding to the project and at the same time benefit the VeChain Ecosystem.On the other hand, risk management has always been a critical part of the VeChain Foundation’s governance. Since founding, VeChain has been working with professional service providers to establish robust risk management and finance policies. Our finance and treasury team have been closely monitoring the market, fine-tuning the financial plan and practicing precautions in the management of the proceeds that we raised in the token sale.To faithfully reflect the expenditure, we internally decided that for this quarterly report we will only report the expenditure in USD due to the high volatility in ETH price.In general, the expenditure has dropped compared with the last period as the focus of this period was on internal projects around mainnet launch and system initialization. The majority of the ecosystem development investment has been shifted to VET as the new token issuances on the VeChainThor Blockchain raised in VET as funds.A summary of the expenditure in each category is as below:Technological Research and Development — In this period, after the secure launch of the VeChainThor mainnet, technological research and development expenditure moderated. The development team continuously improves the blockchain and wallet, creates documentation and tools for third parties such as exchange and wallet providers to integrate VET and VTHO. We kicked off a series of VeChain Technical Deep Dive to introduce the features of VeChainThor blockchain, IoT and encryption, and enterprise blockchain solutions. In addition, the beta version of the VeChain portal with VeVID and Authority Masternode application module was launched.Business Development — In this period, the VeChain team managed to sign a few renowned partnerships which will lead to more enterprise blockchain applications on the VeChainThor mainnet. During the BYD developer conference in Shenzhen, the Digital Carbon Ecosystem by VeChain and DNV GL was announced, and it was followed by the Signing Ceremony witnessed by His Majesty King Harald V and Her Majesty Queen Sonja of Norway Witnessed the Signing Ceremony in Beijing. As usual, the VeChain Team has been tirelessly engaging in business meetings, attending conferences and giving speeches to form partnerships and raise market awareness. With the mainnet launch, we hope to bring the VeChain Blockchain solutions to a broader audience beyond blockchain and crypto industry and showcase the real-life blockchain solutions on general high tech and industry stages.Announced partnerships and collaborations (Aug — Oct)NTT Docomo (Aug 5)People Insurance Company of China (Sept 2)BYD (Sept 5)Highlights from the community and marketing events (Aug — Oct)Dr. Peter Zhou was invited by SV Insight to share the concept of the VeChainThor Development Plan and Whitepaper (Aug 1)Sarah attended “Open Innovation Platform” event which hosted by Singapore IMDA Info-communications Media Development Authority (Aug 3)Sunny Lu presented at BYD’s World Wide Development Conference and the live stream was broadcast on National Brand Program CCTV (Sept 5)VeChain and PwC co-organized the blockchain stage at World’s leading startup event — Slush 2018 (Sept 7)VeChain official meetup in Amsterdam (Sep 19) and Paris (Sept 21)VeChain project director Xinli Tian was invited to BYD Qin Pro new car launch conference (Sept 20)VeChain was featured in one of the episodes of “Advancements” with Ted Danson on CNBC (Sept 24)VeChain was selected and displayed on the partnership display wall of the DHL APAC innovation center (Oct 10)Kevin was invited to “EHS in Supply Chain” conference which hosted by Ministry of Emergency Management of the People’s Republic of China and General Electric Company (Oct 15)Introducing the VeChain Technical Deep Dive Series (Oct 15)VeChain was invited to Digital Transformation World Forum (Oct 16)His Majesty King Harald V and Her Majesty Queen Sonja of Norway Witnessed the Signing Ceremony of “DNV GL — VeChain Digital Carbon Ecosystem” in Beijing (Oct 17)Sarah was invited to BMW Executive Innovation Conference (Oct 18)VeChain was invited to BMW IT conference 2018 which hosted at BMW headquarters (Oct 24)VeChain showcased its traceability solution with the influential Singapore sneaker artist — SBTG (Oct 26)VeChain Partners with Shanghai Gas and ENN to Pilot Blockchain-enabled Liquified Natural Gas Solution (Oct 30)Compliance & Legal — VeChain engaged independent third party to inspect the completeness, accuracy and security controls of the entire token swap process. An independent inspection report with satisfactory results were submitted to the Steering Committee during its quarterly meeting. In addition, VeChain continues to work with service providers to enhance the security of the products such as VeChain Portal and VeChainThor wallet.Ecosystem Development — In this period, the ecosystem development expenditure in BTC/ETH/fiat has significantly reduced. Since the launch of the VeChainThor mainnet, VeChain has been focusing on investing the ecosystem projects running on the mainnet which raise the majority of their funds in VETs. Therefore, we expect more ecosystem development investment will be reflected in the VET category in the future periods.We are committed to transparency of the financial status to the community and follow what has been laid out in the VeChain Development Plan to maximize the use of the proceeds and VET holdings to grow the VeChainThor Ecosystem to be the most powerful blockchain platform.
18. 12. 17
VeChain Enables Customers t...
The history of Japanese tea culture dates back to the 9th century.The ceremonial way of preparing and serving tea to customers has become one of the most prevalent arts in Japan. To improve authenticity and traceability of tea products, VeChain is working with one of the most historic tea businesses in Japan run by the Fuji MARUMO Tea Garden. By utilizing an advanced traceability and IoT solution, Fuji MARUMO Tea’a customers are able to verify the origin of their tea products by using a smartphone to read the NFC chips embedded on the package.In this first trial batch, there are a total of 100 products embedded with VeChain’s NFC chips which serve as a memorable limited edition offering of Fuji Tea. This trial is the Proof of Concept for the larger partnership that will be implemented upon completion.For this solution, VeChain assigns every product a unique ID assuring the exclusiveness of the line. Through the NFC chip, customers can verify that the origin of their tea is from Fuji MARUMO Tea Garden, the unique environment for cultivating tea in Japan. Furthermore, when scanning the chips, the consumer can retrieve further information about the product, such as the history of the tea garden in a video and a verification certificate issued and stored on the VeChainThor Blockchain.https://medium.com/media/344875c299e25f20a92c91ef9ba78b5e/hrefLocated in Shizuoka, Japan, one of the most famous origins of Japanese tea, Fuji MARUMO Tea Garden has a history over 90 years. Shizuoka is richly endowed by nature, especially by the rich soil and dry wind around Mont. Fuji. Shizuoka is so well established and sought after that it has been a staple in Japanese tea gardens and tea culture as early as 1241.Fuji MARUMO Tea GardenBy starting the product from this wonderful environment for tea, the Honda family, founder of the Fuji MARUMO Tea Garden, has succeeded the title of tea master — Mohei Honda since 1920s. Tea masters know the skills of cultivation and blending, as well as tea business which is succeeded by family. As a result, the traditional way of making tea is retained while new technologies are applied to improve and expand the businesses.https://medium.com/media/0d1d0f8bd7415ff2cac9aeb8d922061e/hrefNow, the fifth Mohei Honda is in charge of the tea garden as well as inheriting tea method. His strong passion and rich experience of tea have led him to be the winner of the World Green Tea Contest Supreme Gold Award in 2013. He is also the president of Shizuoka’s 100-Tea Organization. Mr. Honda devotes himself into popularizing the culture of Japanese Tea overseas and has continuously been asked to travel to USA and Europe to hold tea parties that demonstrate his tea culture.With VeChain’s traceability solution, Fuji Tea products carry more detailed information related to the Japanese tea culture and is serviced in a way that is able to be shared with consumers in a brand new way. This is a the Mr. Honda has been searching for.On 7th of December, Fiji MARUMO Tea Garden will demonstrate tea products with VeChain’s technology and Japanese tea culture at Japan Classy Culture Experience & Party held in Singapore. For more information, please visit and sign up via the website:7 Dec | Japanese Classy Culture Experience & Cocktail Style PartyTogether with Fuji Tea, VeChain is bringing the cutting-edge technology solution to one of the most historical industries. By combining blockchain and traditional culture, VeChain assures trust in traditional industries and helps promote traditional culture to the world.Fuji MARUMO Tea Garden’s official website:富士山まる茂茶園株式会社 | 人生を、世界を変える、感動の一杯をあなたへ。
18. 12. 05
VeChainThor Node Tokenizati...
Back in 2016, VeChain successfully implemented the first blockchain based anti-counterfeiting and traceability solution for luxury bags, in which we assign a cryptographically generated unique ID to each piece of bag, register it on the blockchain and trace the information of the product, logistics, and ownership throughout the supply chain. Does this concept sound familiar to you? Yes, by giving an item a unique ID on the blockchain the product becomes a non-fungible token which can be operated by multi-parties and be transferred between blockchain addresses.Following VIP180 — fungible token standard, we published VIP181 — non-fungible token standard for developers to follow and create non-fungible tokens on the VeChainThor Blockchain. In relation to the new standard, VeChain Foundation has tokenized the Status of VeChainThor Nodes including Economic Nodes and Economic X Nodes into VIP181 tokens. This is an ideal scenario to implement the standard and significantly enhance the user experience of the VeChainThor Node program. We hope more developers will follow and develop dApps based on VIP181 tokens.By tokenizing VeChainThor Nodes and open sourcing the smart contracts, node holders, third-party developers and the community in general can all benefit in different ways:Node addresses and tiers information is public on the blockchain available for inquiry or integration into third-party applications.Node holders are able to change the node address by transferring the node token.Node holders can eventually exchange the Node tokens for the liquidity which holders might have been looking for.Other Non-Node holders can potentially participate in node ownership, which will eventually move all nodes into the hands of the community members who want them the most.Node upgrade and transfer is now done through smart contract functions, which allow any third party developer to build applications and user interface to support these functions.The VeChainThor Node token smart contract is now open source and it has been independently audited by Slowmist with a satisfactory result. We welcome third-party developers to create dApps that support or leverage the new VeChainThor node token features, which we believe is one of the best ways to engage with the active VeChain community members.With the introduction of VeChainThor Node tokens, we also updated the VeChainThor Mobile Wallet to version 1.3.0. This version makes the Mobile Wallet the first application supporting the new functionality, which will be available for download on December 5th. Please note while the new version supports more functionality, all the rules in the VeChain Economic Node and Economic X Node remain unchanged.The new features are as follows:The Display of VeChainThor NodeOnce you upgrade to version 1.3.0, if you hold a VeChain Economic X Node or VeChain Economic Node, it will be displayed in the “Collectibles” section under your node address. Each address can only own one VeChainThor Node at a time.When clicking on the VeChainThor Node, you will be able to see detailed information about the node including node ID, node type, minimum VET requirement, VTHO reward rate, node activity history. You can initiate “Designated Transfer” or “Public Auction” operation to the Node or check the public node trading market.In the next version upgrade, same as VIP180 tokens, the VeChain Foundation may integrate third-party VIP181 non-fungible tokens in the VeChainThor wallet. More details will be announced as we get closer to the next version release.Node UpgradesAs seen in previous versions, users can apply to upgrade their node in the “Rewards” function when their address meets the minimum VET holding requirement. When the user does so, the node will upgrade to the next tier after the maturity period. In the latest release, the node upgrade is executed via a smart contract, so you will be prompted to input the wallet password and sign approval for the smart contract transactions. Your VeChainThor Node is not able to be transferred or put on auction during the maturity period.Node Downgrade or DropThis part works exactly as the previous version, if the user’s VET holding falls below the minimum requirement, the node will either be downgraded (Economic Nodes) or permanently dropped (Economic X Nodes). Since now the VeChainThor nodes are tokenized, when this happens the node token either has the type changed or is destroyed automatically by the smart contract.Collect VTHO rewardsThe VeChainThor wallet will continue to support the collection of VTHO rewards. However, instead of a weekly scripted distribution, the collection and distribution of VTHO rewards will be executed via the smart contract whenever a user triggers it.To claim your VTHO rewards in the new version, go to the ‘Rewards’ page, and your accumulated unclaimed VTHO orbs will be displayed. When you click ‘Collect Reward’, the VTHO reward distribution smart contract will be executed and the VTHO will be sent using MTT protocol within a few hours. A flat fee of 40 VTHO will be deducted by the smart contract every time you trigger the collection to pay for the transaction fee on the blockchain.VeChainThor Node ExchangeCommon Rules in Node ExchangeWhile users can choose from Designated Transfer and Public Auction, some common rules are applied to both methods:The node holder must keep the minimum VET corresponding to the node tier till the node ownership is successfully transferred, otherwise the order will be automatically canceled and the node will be downgraded or dropped depending on the node type listed.Once the recipient address successfully receives the node, there will be a 4 hours time window before the service resumes the monitoring of the minimum VET holding on the new node address. Therefore, the recipient must make sure the new node address meets the minimum VET holding. The actual time window might be slightly shorter than 4 hours depending on the blockchain and system condition, you are highly recommended to meet the minimum VET holding as soon as possible after receiving the node.Nodes cannot be transferred or put on public auction during the maturity period; also nodes are not available for upgrade during the process of transfer or auction.If the recipient address currently owns a VeChainThor Node, they will not be able to receive any additional node.After a node ownership is transferred to a new address, there will be a 24 hour cooldown period before another transfer can take place.Designated TransferThe node holder can transfer the ownership of the node token to any designated address. To initiate a transfer, the node holder needs to input the receiving address, set a sales price (the sales price can be set as 0, for example, when you transfer the node to another address of your own) and sign off on the smart contract transaction with the wallet’s password. The node transfer transaction will only be valid for 4 hours.The recipient wallet will see the node pending for payment (if the sale price is not 0) and claim. If the recipient wallet does not claim the node via the smart contract within 4 hours or rejects it, the transfer will be canceled.Public Auction (Fixed Price and Dutch Auction)The node holder can choose to put the node on the market for public auction. There are two types of public auction, Fixed Price and Dutch Auction.In the Fixed Price Auction, when initiating the order, the node holder needs to set a sales price greater than 0 and a valid period for the order from 1 to 7 days (default value is 3 days).If the node holder would like to sell the node using Dutch Auction, the node holder needs to set a starting price, the lowest price, and a valid order period between 1 and 7 days (default value is 3 days). When the node is put on Dutch Auction, the price will decrease every 5 minutes in a linear manner until the lowest price is reached.A user will be able to see the nodes available for purchase on the trading market. If the node is on Dutch Auction, the current price will be displayed.In both cases, the node purchase opportunity is based on the first come first serve principle. After the first user successfully purchases the node, the ownership will be transferred and it will no longer be shown on the trading market. If no one purchases the node, the order will be automatically canceled after the valid period.A few important notes, please read carefullyUpon this upgrade, the node management is done via open source smart contracts in the decentralized manner. All the information and operation is transparent on the blockchain. Therefore, VeChain will NOT be able to interfere any of the operations pertaining to node type, node transfer or auction. Users are responsible for any operation that is authorized by their private keys.The above transaction parameters are based on the Foundation’s recommended configuration. The VeChainThor Node token smart contract supports more flexible configuration for third-party developers to explore and build more applications to support the VeChainThor Node functions.For Node Upgrades, Designated Transfers and Public Auction functions, if the VeChainThor Node address is stored on a cold wallet, you must update the VeChainThor App on the cold wallet before you can sign off on the smart contract transaction initiated from the hot wallet using the observe wallet function.VeForge support for the VeChainThor Node token functionality will be available soon by Totient Labs.
18. 12. 04
VeChain Showcases Multiple ...
VeChain was invited to the first China International Import Expo that was held during November 5th to 10th, 2018 at the National Exhibition and Convention Center (Shanghai).With the slogan “New Era, Shared Future”, the CIIE is the brainchild of Xi and is set to become a platform for a win-win economic cooperation and a landmark project in the country’s higher-level opening up.In May 2017, Chinese President Xi Jinping announced that the Belt and Road Forum for International Cooperation would be the China International Import Expo (CIIE). CIIE actively opens the Chineses market to the world and proves China’s firm support for trade liberalization and economic globalization.The CIIE is “a major policy for China to push for a new round of opening-up at the highest level and a major measure for China to take the initiative to open the market to the world.” President Xi Jinping said when delivering a keynote speech at the opening ceremony.During the event, government officials, business communities, exhibitors and professional purchasers from 172 countries and regions participated in CIIE exploring solutions offered by the Chinese market.The inaugural expo came at an inflection point as China transitions to high-quality development and away from the world’s workshop to the world’s market. China is currently the world’s largest middle-income population demanding higher-quality consumer products. During the speech, Xi announced that China’s imported goods and services were estimated to exceed 30 trillion US dollars and 10 trillion US dollars, respectively, in the next 15 years.The event boasted 8 exhibition areas, including country pavilion for trade & investment, consumer electronics & appliances, automobiles, high-end intelligent equipment, food & agricultural products, medical equipments & health care products, apparel accessories & consumer goods, as well as trade in services.The area displayed solutions for cold-chain logistics, supply chain management, vaccine traceability, and carbon banking. During the exhibition, delegations and enterprises from multiple countries visited the booth. VeChain’s CEO Sunny Lu explained to the representatives the ‘My Story’ and cold chain logistics solutions co-developed with DNV GL, which can significantly protect the quality of imported seafood products and enhance the customer experience and food safety.Based on the figures given by the Norwegian Seafood Council, Norway exported 2.6 million tonnes of seafood worth NOK 94.5 billion in 2017. The export value increased by 3% and 539,000 tonners of seafood worth NOK 18.7 billion to Asia in 2017. The increased seafood consumption in Asia is driven by a growing middle class and improved distribution especially in China consuming nearly 12% of current salmon production in Norway.Delegations from Norway Embassy and Norway Fishery Trade visiting the boothDNV GL were specifically asked to demonstrate the ‘‘DNV GL-VeChain Digital Carbon Ecosystem Experience Event’’ and the Bright Code solution for an audience at 1.30 pm on 7th of November.The event started with a speech from Luca Crisciotti in which he stated: “DNV GL has committed to the word ‘sustainability’. Part of that mission is to improve the way we behave as a society. Over the last couple of years, we were able to take advantage of the new digital technology to fulfill our mission and in the same time, to improve the environment we live.”Luca Crisciotti, CEO Business Assurance of DNV GLSong Ke, Manager from DNV GL Business Sustainability Division, introduced the Carbon emission reduction model utilizing smart contracts on the VeChainThor Blockchain. The latest implementations of the digital carbon ecosystem were introduced by Tian Xinli, project manager at VeChain, “The Digital Carbon Ecosystem developed by VeChain and DNV GL is an open platform and BYD is one of the earliest participants in the ecosystem. The model of redeeming carbon credits is not new, but the reliability and transparency offered by the blockchain can let these companies, partners, and individuals trust the ecosystem as they join in together. This is a win-win cycle that both individuals and companies can be benefit from.”.Tian Xinli, project manager at VeChainBright Code, a localized version of My Story™ was also introduced by Xuzhe, General manager of Bright Food. Bright Code utilizes the technology provided by VeChain to build a consumer confidence index, generated by an independent third party organization, collecting data on events throughout the entire lifecycle of their products. This solution provides safety, confidence, and an open ecosystem to everyday consumers as well as Bright Foods’ clients, providers, and partners.As the first unveiling of this solution, Bright Foods provided the following media for Bright Code:https://medium.com/media/8b190d20005739bb587afbf626daf5e7/hrefhttps://medium.com/media/47b91271bf47cdc034773ff32419cdfe/hrefDuring the entirety of the event, Noah Huo, CMO at VeChain, introduced demos that allowed individuals to participate in collection of Carbon Credits by emission-reducing behavior that will be seen in the open market soon. At release users will be able to redeem products from PICC, iTaotaoke and other unannounced participants.Noah Huo, CMO at VeChain introduces cycling demo at CIIEIn the solution, activities such as driving electric vehicles, taking public transportation, using clean energy, etc. are behaviors that will be recorded by applications developed by various enterprise participants, and converted to carbon credits using smart contract defined and validated by DNV GL. Individuals then redeem the carbon credits to purchase or receive discounts on products and services offered by ecosystem services. This mission-reduction based reward mechanism is ideal for enterprises looking to enhance their customer relationship management programs and create new methods for driving business value. In addition, corporate social responsibility is a key pillar to any business’s strategy for success.https://medium.com/media/cd93620909bd569c03b468cfcb1462a0/href
18. 11. 09
|Transaction History||Market||Market||Transaction volume||Address|
|Huobi Global||VET/ETH||3.54||12,129,198.08||Short cut|
|Instant Bitex||VET/BTC||11.71||10,841,124.99||Short cut|
|Huobi Korea||VET/ETH||5.95||104,389.25||Short cut|
|Coinnest||To be provided later||To be provided later||To be provided later||Short cut|