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Vechain (VEN) - product ID Management solution on BlockChain
UNDERVALUED COINS SERIES
Crypto Coins
https://steemit.com/@dmae
@Crypto0Coins
https://www.facebook.com/crypt0coins/
In a nutshell
In a nutshell
- Vechain is a project established in June 2015 and had ICO held in August 2017. It is managed by VeChain Foundation which was established in Singapore.
- Vechain is a trust-free and distributed business ecosystem based on the blockchain technology
- Vechain focuses on variety of different solutions for different markets including liquor, luxury goods, retail, agriculture and logistics.
- It will be using a combination of blockchain, IoT (Internet of Things) devices, unique IDs and NFCs (near field communication)
How is it used?
How is it used?
- Usage will vary depending on that is being tracked.
- For cold-chain logistics: key information such as temperature, humidity even steadiness during the cold-chain logistics can be collected and recorded on the blockchain in a real-time manner.
- For retail products in general Vechain will sign a unique ID to each product and track everything. Consumers will have the ability to establish effective interaction with brands.
- For agriculture the solution uploads the data throughout the production process via IoT devices and mobile devices, and these data is encrypted and can be easily accessed by relevant parties
Tokens
Vechain (VEN) tokens:
- almost 560 million available with total supply of 1 billion (apparently information on Coinmarketcap is wrong)
- Almost all volume available on Liqui (97%) paired with Bitcoin and Ethereum
- Also available on EtherDelta (3%)
Price
Current price: around $0.29 for 1 VEN (8th of October)
Current market cap: around $85million
Market capitalization rank: 69th
Team
Team and community
- Managed by The VeChain foundation, deep connections with QTUM
- Based on Singapore
- 7 team members according to the ICO page... possibly more now according to LinkedIn
- Partnerships:
- Waigaoqiao Direct Imported Goods
- PricewaterhouseCoopers (pwc)
- DNV GL
- Renault
- @Vechain1-> official
- https://www.vechain.com -> official
- https://tokensale.vechain.com -> ICO page
Where does it fit?
Where does it fit?
- Vechain has been in development for a fairly long time and has managed to secure very impressive partnerships.
- It is aiming to become a global information transformation platform based on blockchain technology so will compete with Walton, modum and IMMLA.
- I personally thing there is plenty of room in this sector for competition and there are some differences - for example Walton will use RFID tags so it might apply more to other industries
- Vechain is tryint go tackle several industries at once so it is bound to dominate at least some of them in my opnion
Predictions for the future
Predictions
Venchain has been increasing in price recently but had a dip in the last few days.
The ATH is almost $0.4 and it was achieved very recently.
Prediction (pure guess):
The supply on the site is wrong (should be about 2x higher) which would put the cap just under Walton ($200 million)
The potential for real life usage is really there so I think we can expect $1 at the end of the year if the cryptocurrency market keeps expanding like it currently is and Vechain can ride the hype.
Why is it undervalued?
- Technical paperwork is super detailed and precisely states how the technology will work
- Several huge partnerships that ensure real life usage of the project, Vechain team seems to be good at securing those
- Only listed on Liqui and EtherDelta - still has to be listed on other bigger exchanges
- Still fairly unknown with many investors unaware of the project, there is also some China fud
- Team seems to be very engaged and actively working on promoting the product
Why is it undervalued?
KEEP IN MIND
KEEP IN MIND
- Very early stage of the development - there is a long way before it's used in real life
- Chinese FUD is still in place and could affect the project
- Competition with Walton
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