Community Trust ScoreVerified
- Vechain in Supply Chain Management
- VeChain Partnerships solving real economic problems
- VET use cases are real-time
- VET providing for the best of DAO
VeChain is here since 2015. They are well known for their smart contract software which helps better the relationships between businesses. They help with improving supply-chain management and it is particularly useful in tracking the efficiency of data transfer.
The future of the VeChain ecosystem is set to be bright as every partnership that VeChain initiates is indispensable to the community. It all focuses on solving real-world economic problems.
Those who are new to VeChain will be able to know it all about the project by going through the White Paper. The Codebase is available in Github along with the VIP (VeChain Improvement Proposal). There is a long list of reliable exchanges from where one can buy VET like in Binance, Binance US, KuCoin, Huobi Global, Bithumb, Gate.io, Bittrex, WazirX, Upbit, and many more.
At the time of writing VET price has been trending at $0.06288.
The use cases facilitated by VET are real time: For instance, Shan, a premium Ginseng snack producer in China, are using the Vechain Toolchain platform. By using the technology, producers share their stories, demonstrate quality and enhance brand perception.
Sunny Lu, CEO of Vechain recently spoke about obvious challenge in DAO like: 1. How to organize everyone in the organization 2. How to coordinate different tasks (social division of labour has been proven to be more efficient) 3. How to evaluate the work and contributions 4. How to do justice and so on.
DAO requires everyone to contribute the “work” or the equivalent value coming from money, technology, invention and other resource elements to achieve the common goal. Actually, it’s no different other than the current company structure.
DAO is definitely promising with lots of potentials. But I do believe corporate structure will still last for quite long time. As matter of fact, I believe in the tools of DAO spirit to improve the current organizations.
Sustainability is use case scenario, Web3 is a toolset including Defi, NFT, eNFT, along with lots of tools required to unite people together. DAO is the way to manage eventually. That’s what VeChain is going to focus on.
I do remember someone who said that Blockchain may be the winning chance, which could happen once in 500 years in human history. The supporting line is Blockchain may revolutionize the current corporate structure started 500 years ago. I believe that’s DAO.
For those who are new, DAO is the new form of organization of people who share the same vision and respect the same rules to work together to achieve the same goal without a centralized authority. Only Blockchain makes it possible. For example, Bitcoin mining to secure the Bitcoin network.
Sunny Lu is recently seen discussing stuff important to the VeChain ecosystem every day. This will eventually make a big difference with time. Like little drops of water make a mighty ocean. Those who invest in VET are in reality supporting a cause in the practical world.
