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Vechain (VEN)

Last updated: Aug 23, 2019

VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products and information
By leveraging on blockchain technology, VeChain strives to build a trust-free and distributed business ecosystem, which is self-circulating and scalable.

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Overview

Project industry	Business Services & Consulting
Founded	Singapore
Whitepaper	Open

What is Vechain

What does the VeChain want to do? The vision of VeChain is to build a trustfree and distributed business ecosystem based on the Blockchain technology self-circulated and expanding.

In this ecosystem, the information is relatively transparent and symmetrical. A large portion of the source of the profit comes from the realization of true value, and only a small portion of it comes from asymmetric information (absolute symmetry does not exist).

In this ecosystem, each business party can reduce the potential trust issue between different parties. This makes business cooperation simpler, more efficient, low cost, and the business can concentrate resources on more advanced technology, better product and service to create more value.

In this ecosystem, each person and each enterprise can find their own place. Based on their contribution and value, they can obtain relatively fair reward.

In this ecosystem, the technology of Blockchain should have room for all aspects of business, including commercial activities and economic activities that should be supported.

In this ecosystem, the value is in a closed loop that keep expanding accompanied by the development of commercial activities with highspeed transmission. The form of value may be commodities, services, or direct fund.

Distributed Business Ecosystem

In the ecological environment made by VeChain, there are several main types of participants:

Enterprise organization.All kinds of enterprise organization that provide products and services to end-users to meet all the needs such as various manufacturing enterprises, brands, service providers for end-users, and so on.

Application service provider.It means an enterprise that provides various application development and services for enterprise organizations and users on VeChain Blockchain. The product or service can be a variety of decentralized applications and services to users, technical products and related services for all enterprises and institutions, functions of the government agencies, regulators and third party credit service providers. For example, end-user oriented Internet platforms like BAT, sharing products and service providers like Uber, Didi, Airbnb; For instance, enterprise oriented technology, product, service provider such as Oracle, IBM. Supply chain services providers of commodity enterprises, third party credit service providers such as PwC, DNV, GL and financial service providers such as banks and insurance companies.

Smart contract service provider.Organizations provide VeChain smart contract technology service to enterprises, and allow the end- enterprise or service providers to develop Blockchain applications in a faster and more convenient manner.

VeChain network node provider.Enterprises and organizations that directly participate in the Blockchain network and maintain a certain number of nodes to protect the overall network security. Maintaining a specific function node to provide related services, such as customs, quality inspection node, audit node, wallet service, and user private key management service provider.

VeChain Foundation. VeChain is responsible for the construction of Blockchain network, technology research and development, upgrade and maintenance and other basic technical services. Meanwhile, in the initial stage it is responsible for business development, creating reference cases, encouraging and supporting more of the new smart contract service providers and existing technology enterprises to transform. Based on the demands of ecological development, it provides support to more technology companies on offering Blockchain services, such as wallet development, payment services, private key management, internal exchange, smart contract templates etc. VeChain is responsible for the construction of Blockchain network, technology research and development, upgrade and maintenance and other basic technical services. Meanwhile, in the initial stage it is responsible for business development, creating reference cases, encouraging and supporting more of the new smart contract service providers and existing technology enterprises to transform. Based on the demands of ecological development, it provides support to more technology companies on offering Blockchain services, such as wallet development, payment services, private key management, internal exchange, smart contract templates etc.

End-user. The service target of end-enterprise, end-users and service provider (investors) enjoy the bonus from the future commercial ecology development together.

Details

Public sales: Aug 17, 2017 - Sep 17, 2017

Legal

Office address: 021-32265578 4F, Building 4, No.546, Yuyuan Rd, Shanghai, China

Token info

Ticker: VEN
Type: Utility-token
Token distribution:
VeChain Token(VET) crowdsale - 41%
Private investor - 9%
Enterprise investors - 23%
Cofounder, development team - 5%
Continuous operation and technological development - 12%
Business case development - 10%
Funds allocation:
Technology Development - 50%
Business Development - 35%
Reinvestment - 10%
Daily Operation - 5%