Vechain (VEN) is a blockchain ecosystem for Businesses and Governments. They combine the best of Ethereum with their own Internet of Things (IoT) and RFID technologies to provide solutions to fight counterfeit goods, improve supply chain management and product assurance. This video talks about the fundamentals of Vechain (rebranding to Vechain Thor, VET) and its primary business partners.
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Boxmining: did you get paid, in any form or fashion, for doing this video? If you do, are you upfront about what you get in return for reviewing diff alt coins? I think that would have high integrity. Maybe you should come right out and say something at the beginning of each video when you review a coin what your vested interests, associations or benefits are. Thanks!! #transparency
Vechain will be the antidote to the counterfit industry in China. As soon as more manufacters in the West realize this I see VEN becoming a household name for all branded and copyright protected products.
Honestly be grateful you know about this.What you somehow stumbled upon will make you millions in no-more than 10 years. How did everyone know about this? Well for me I heard from a friend on the line at subways and I just did my research on it and I had to invest. I know some of you are concern that yes this could lead to more government tracking but as a business man I don't look at that. I look at the profit it will make me in the future. Plus even if you don't like it I must get across one point. This is inevitable, simply put. I don't know how you got here but just be thankful that you just came across a gold mine. Im curious, how did everyone find out about Vechain?
V chain is not like ethereum?? A platform for building DAPPs?? Its RFID, verifying authenticity and origin. and conditions of products life, eg temperature. Very confusing and poorly structured, but im getting used to it, heres a good explaination https://www.youtube.com/watch?v=CBunxDxgaX0
VeChain obviously has an excellent value proposition, and I'm invested, but one aspect of your China argument needs a very important deeper dive.
It is crucial to understand that China's construction of vast new cities is a key part of a fundamental and massive crisis facing global neoliberal capitalism, as fueled by the insane, endless, exponential increase in the printing of worthless fiat currency.
For this multi-hundred trillion dollar global fiat bubble to keep growing without collapsing, the system is addictively dependent on the continuous explosion of huge unnecessary construction projects like China's new megacities.
Bigger and bigger successive construction booms are repeatedly happening in almost all cities, all over the world (in every generation) in order to enable global luxury condo development built for speculative flipping (not living in) to prop up the entire worldwide fiat ponzi economy.
The upshot of this in relation to VeChain is that many, if not most, of these China megacities will be very problematic economically, and largely empty of real residents and real economies, and VeChain would be wise to not place a large a stake in the future of serving those cities. (Luckily VeChain has a *lot* of other stronger profit avenues to pursue.)
Here is the link to an excellent speech by Marxist geographer David Harvey which explains this dynamic of the global fiat economy depending on empty building booms; booms which are also incredibly destructive to the planet's environment because of their massive resource requirements. (Click on the link - not the image - to skip the introductions and go to the beginning of Harvey's speech.)
So do all vechain token holders hope to Hodl, and hopefully somehow sell them to luxury manufacturing companies in however many years in the future when all this is ready? Is that the end goal? Trying to figure out my goal if I want this to be a long term hodl.
My only concern now is how many tokens vechain themselves own.. and if these luxury companies just go to vechain themselves for the tokens and not bother with the individual token hodlers.. maybe vechain will do a buy back. Haven't done dyor myself but looking at it at a high level
Kinda late to this video but ill drop my 2 pennies anyway. As somebody working actively as a director of operations for a logistics company, this tech is something that could take years and years to take off, if not NEVER.
You guys think crypto is unregulated ? Spend a day in the transportation industry. I work directly with companies in need of transporting temperature controlled food items. It would simply be impossible to track the temperature on such a thorough level. We can guarantee ,and we do so with our cargo insurance that the product will remain at the required temperature for the duration of the scheduled transit but what happens before and after is something that is out of our control. You cannot put a chip in every chicken leg to measure the temperature and with commodities like fresh produce the only thing you can keep track of is the actual temperature of the reefer unit.
In the even of a malfunction, commercial carriers have additional insurance called "Reefer Breakdown".
If anything happens, we are covered so if you're looking to see how viable this tech is ...
- look to see if the actual insurance companies are showing interest !
Now look at the flipside.. if these sensors were to malfunction for any reason whatsoever it would lead to enormous wasting of goods and a large amount of unnecessary claims.
- look to see if the actual insurance companies are showing interest !
On the other hand, the authenticity of a handbag or clothing item needs no special technology, you just have to go a verified retailer. Women shopping for $800 purses will go to the fancy stores and try them out and take them out the door. Thats really all the proof you need. I can only imagine what a PR nightmare it would be if louis viton stores started selling counterfeit items.
I think this particular crypto currency is a really good example of how blockchain tries to sometimes tackle issues - that either aren't real issues, or they simply do not understand the complexity of a particular industry nor the motivations of certain players in those fields.
Blockchain technology can have a tremendous impact on the transportation industry, its use case would be more oriented toward creating better contracts between customers, carriers and brokerage firms and exploiting the already bubbled bloodbath of driver safety and FMCSA compliance technologies.
We were mandated to have all of our units equipped with electronic log devices at the beginning of this year and Teletrac Navman doesnt have maintenance appointment open for us until the second week of february.
Our trucks are running paper logs because the devices are malfunctioning and the device suppliers simply cannot handle the requests of such a massive industry so for now, customer support is nearly non existent.
I by no means consider myself an "expert" but i am a professional in this field and have been in logistics for nearly a decade.
I think that for every new crypto that comes out trying to solve "problems" in any industry, somebody with at least a reasonable level of understanding of that particular business or practice should chime in and if you are looking to invest.. see what people in those arenas have to say about it.
I will leave you with this - If you're a speculator.. by all means test your luck.
If you are expecting Vechain mainstream adoption.. forget about it.
Best use this coin could currently have is make sure that cans weren't opened already .. or something of the sort and i believe another crypto already tackled this issue a while ago ?
Sorry for the long wall of text but it had to be said.
china identifies the tecnologies that are going to work? So facebook, Instagram, Twitter and Google didn't make the cut?? The Vechain website is full with orthographic errors an it's pretty much a copy paste all over the place! No reference to the technology part of the token... And 59% of the tokens are kept for the developers and foundation ???(directly and indirectly), I like your videos but I think something is wrong with this one.
i like the cold food management. but this sounds like a proprietary nightmare. Imagine a car or computer which won't accept any third party parts at the hardware level because the chip doesn't authenticate. the attempt is then logged in the blockchain and your warranty is voided. then they could refuse to sell to you again because your attempt to use unauthorized components is forever stored.
Hello there, I realy want to invest in VeChain but it's been going up for the last 3 days and I am unsure if I can wait for the bounceback or not.
Don't want to wait forever and never get in.
I am here for the longrun but still would love to get in at a low.
What do all of you think about when/if and to what it will bounce back/stabilize.
Sebastian Hoch Why wait for a couple of dollars ? Just put in as much as you have right Now and wait ! Why wait till iT bounces back to 3 or 4 5 6 What Maybe may not happen anymore your not buying iT for getting to 14 dollars a piece you buy iT Because iT will be 500 dollar a piece in the future buy iT Now keep iT and dont look back !
Is VeChain Quantum proofed? Because if your cold storage is centralized its still at risk. Or when you run into a problem with the interrupt-ability between two or 3 different operating systems. And you briefly mentioned a 2 coin system?
I disagree, I feel like in 3 years people will target crypto currency because the risk is ALOT lower then targeting lets say credit cards or banks, and arguably a lot easier. Is this not something you see lasting longer then 3 years? 5 years? Quantom-Proofing your coin would mean you wouldn't have to invest so much in cold storage and when your focus is the "Industry and cutting costs" transitioning from paper to cold storage - what if you can get that same security but without the cold storage?.. lets say your statements are true, wouldn't be eliminating the next most expensive thing be the most efficient? I also asked a few other questions that didnt't seem to get answered. Is your cold Storage centralized? I bet the security around that would be significantly less then a bank. Or maybe not with a big company behind you... but from a long term perspective you have to consider that Quantom Computers are going to be used maliciously and crypto currency's are going to be a huge target, more so then they already are. Which means eventually everyone is going to transition from POW to POS. That transition will make or break so if thats what you meant by having a 2 coin system?
how does quantum proof have to do with anything. crypto is secured with the same security used to protect our credit cards. i think our current internet banking system would go down first before hackers attempt to change data for cold chain iot devices
You know what is crazy? I am very new into this sector and after I realised how fantastic is this technology I was thinking an application of it in the same way Vechain is been working for a long time. I am really interested on investing in it. One question, is it based in China? Cause I saw a lot of announcement made in the mainland China. Please do another video!!!
Thanks for a very good video Boxmining, I asked this on another channel and didn't get a response, so maybe you can help me. I just did hours of research, I even read the "not a white paper" white paper. But I still have a question that is central to the value and utility of the vechain coin.
So I understand it has a lot of applications in the "real world" by tagging products with block chain embedded RFID trackers and helping consumers keep track of the authenticity, that's a real and valuable service. My question is, how will this help drive the value of the coin? It seems there is an enterprise solution, and there is the coin, but I don't see how they are necessarily related or how let say, if lots of companies started using the authentication service, why the value of the coin will go up or down.
VR coin is trading almost 500 sats cheaper on coinexchange . why is that? is it possible to buy and trade on other exchange? . Also is that to do with Oculus Rift mentioning it in the podcast? they are up 400% today? should we still buy?
Are the companies on this network REQUIRED to purchase VEN or soon to be VET for settlement of their bills? I am a bit thrown off by the use of THOR. Can someone help me understand before I invest. Thanks!
Can anyone explain why vechain uses a coin? Is it to finance their project? In my mind it doesn’t make sense if they offer b2b solutions to make a coin. Don’t they just get paid for applying blockchain to existing businesses? Great informative video though! :)
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