VeChain is a global blockchain platform for products and information. In recent years, Vechain has gained significant experience in providing blockchain solutions in a wide variety of industries, including the automotive industry, luxury goods, pharmaceutical products, trade and logistics. It has become a platform similar to Ethereum where decentralized applications and smart contracts run.
VeChain's success so far is mostly due to the fact that it invented and implemented solutions that can also be used in real life. It can be traded on Binance and KuCoin.
Use in the automotive industry: car data can be uploaded to the blockchain by the manufacturers, and data such as servicing, spare parts, their origin, accident/theft reports and even insurance data will also be uploaded. And this information is crucial for all participants, be it the insurance company, the authorities or even the sellers, as they reliably prove the data of the cars, since the data added to the blockchain is immutable. One of its biggest partners in the automotive industry is BMW.
VeChain is useful in agriculture, it enables accurate and real-time data collection, which helps farms operate.
VeChain has formed a partnership with the Chinese government for pharmaceutical use due to the previous vaccine scandal, which greatly damaged people's trust. The Chinese turned to technology for help, choosing VeChain. Thanks to VeChain's solution, it is possible to track the route and origin of the vaccines, as well as the duration of use of the stocks. Even the patient can be convinced of all the parameters of the vaccine to be administered.
The VeChain Foundation was the first crypto company to implement a disaster recovery plan. Since they operate on a non-profit basis, the development of the project and the ideas are their own contribution to the economy as a whole, which provides a transparent and consistent method thanks to the blockchain. PwC facilitated the first accredited cryptocurrency disaster recovery plan.