According to the WTO, in 2018 the total value of all merchandise traded was over 19 trillion dollars. Wouldn’t it be great if there was a blockchain-based project that could improve this gargantuan ecosystem?
Actually, there is one project which is trying to do it with the help of blockchain technologies.
Vechain is a platform developed to the improve management of supply chains and business processes. Its aim is to optimize these processes and information flow for complex supply chains by the use of blockchain. Moreover, the team of developers acclaims that VeChain can be used in agriculture, document management, digital content distribution and even carbon reduction.
According to the documents on Vechain official website, the target audience for the company is huge enterprises. Important to say, that they already have partnerships with such giants as BMW, Walmart Chine and Microsoft. However, at the moment the partnership only at the startup level. It means that now they support the development of the project, but do not implement its technologies in their supply chains.
A notable thing for ordinary investors is that for maintaining the network they can earn money in one of the Vechain tokens. (the project has 2 decentralized tokens and each of them plays a significant role in the network) In order to do it an investor has to run a full node on its computer or virtual machine. There will be no deep technical analysis because it will take a long time.
Important to say, the project has one problem which investors cannot neglect. The annual % of yearnings promised by the development team for maintaining the network has nothing to do with reality. Many investors lost a lot of money and became disillusioned with the project. Theu think that the project is scam. If the developers do not make the maintenance of the network more profitable, then the Vechain network risks completely stopping.
In conclusion, even though VeChain has some serious issues, it has a chance for success because it has a good idea and influential investors.