The newly released Roadmap and Development Plan by VeChain (VEN) is an indication that the platform has gotten a wealth of experience owing to the fact it has been running for over two and half years.
In its recent release, VeChain, which unveiled its ICO 9 months ago, streamlined its roadmap while giving elaborate insight on how to achieve it.
The platform has decided to targets Fashion and Luxury, Supply Chain Logistics, Cars, IoT, Government Affairs, Blockchain IDs and many other blockchain related ideas.
Fashion and Luxury
While the Vechain team aims to deeply explore Internet Of Thing (IoT), it is as well intends to drive into Fashion and Luxury. VeChain’s idea is centered towards building up a product traceability solution that covers the life cycle of products from the manufacturing, logistics and supply chain, retail and wholesale, after service, and even consumer engagement on blockchain for anti-counterfeiting along with IoT technologies.
Food safety is one of VeChain’s point of concentration for the fact that it is one of the most pressing social topics in recent time. Oversea Liquor Tracking Platform for D.I.G, which is built on VeChain’s blockchain tracks wine from the very beginning of the process, including from when the bottles were still in the overseas winery. D.I.G, which is a subsidiary company of the state-owned company managing 30% of the imported wine market in China, WaiGaoQiao group, is deploying the first successful Blockchain use case in production in China.
To use the tracking, every detail about the bottle of red wine is marked and recorded at the beginning of the process, this will make tracking through smart contract easy even to track the “whole life period of the wine and log the ownership management, from the overseas winery, export, import, inspection, warehouse in the free trade zone, the distribution center and finally to all the different sales channels and retail stores,” VeChain stated in the newly released roadmap.
In the same line, customers can check info about the wine through in-store touch screens or by smartphone. However, high end wine can be equipped with IoT Chips for added safety and convenience.
The team has devised the “chipset as a “sticker” or “seal” to prevent wine that has been consumed and refilled being registered as authentic”.
Another evolution from VeChain is MyStory. It is referred to as the shelf blockchain based digital assurance solution for the food and beverage industry.
It deploys “deep industry expertise of prominent industry leaders and DNV GL, with independent physical audits, data collection, and verification services”.
The idea is first used by Italian wine producers like Michele Chiarlo, Ricci Curbastro, Ruffino and Torrevento after partnering with VeChain and DNV GL on this disruptive solution.
“These industry leaders will feature the MyStory label on their bottles in stores, using the VeChainThor Blockchain solution and hardware tags, by the end of the year.”
New Form Of Supply Chain
VeChain is designing a new form of supply chain using blockchain and IoT technology. The supply chain will feature an exponential increase in different transactions among multiple players, the digital content of products and services is increasing, sophisticated “pay per use” business models.
It at the same time involves players need to trust that “we pay for what we receive and earn from what we share”, and the ability to find smart and cost-effective ways of tagging physical products and connecting them to digital avatars will be a crucial competitive advantage.
Not only that, collaboration and transactions may happen among machines other than humans.
ZebPay Lists VeChain
ZebPay, India’s leading cryptocurrency exchange has announced today that it is listing VeChain.
In a tweet, ZebPay declared:
“Introducing VeChain on Zebpay! VEN wallets are now open. Trading to start at 1PM (IST) on 22nd May 2018. Move your VEN to your ZebPay wallet ASAP to avoid facing delays in transferring VEN after trading starts.”