VeChain founder Sunny Lu is on a mission to create enterprise solutions for supply chain management with the use of smart contracts. VeChain is listed as VET or VechainThor on crypto exchanges.

“We aim to build a leading enterprise-focused dapp/blockchain application platform for products, services, and data. “We want to help in setting a new industry standard for exemplary blockchain solutions.”

Recent article about VeChain Founder Sunny Lu, by APAC CIO Outlook.

Who is VeChain Founder, Sunny Lu?

VeChain founder Sunny Lu graduated from Shanghai Jiao Tong University in China in 2002 with a BA in Electronics and Communication Engineering.

Soon after graduating he took a job with Netstar, an information, technology and services company.

Netstar’s mission is to “unlock new value and opportunities, from productivity efficiencies, technical innovation to cost savings, for clients.”

This provided a first hand look at the importance data tracking, with a focus on the automotive industry. Netstar “pioneered the vehicle tracking and stolen vehicle recovery industry in South Africa in 1994.” It’s doesn’t seem like a coincidence that VeChain is working to develop blockchain tracking solutions for cars. Furthermore, they have partnered with several big name car companies such as Renault and BMW.

After working at Netstar for three years, Lu then took a position at 3M China working as an IT Infrastructure Manager. Mr. Lu was at 3M China for nearly three and a half years, before he took a position at Bacardi China. At Bacardi, he worked as an IT Manager for a year before moving on to work for Louis Vuitton China in 2010.

In a recent interview, Lu talked about his experience with Louis Vuitton China. He explained more of what he did as the Chief Information Officer for LV China and pointed out how eye opening the job was.

“CIO is acting as a bridge between the technology and the business. So usually I’m doing two things, either I find new technology or I think about what business can benefit from the technology”

Being the CIO of LV China allowed Lu to understand enterprise needs and think about large scale technology solutions for current enterprise pain points. Simply put, this experience taught Lu what problems need to be solved and “how to talk to the different enterprises.”

Most importantly, it was at a yearly tech seminar for Louis Vuitton in early 2013 that Mr. Lu learned about blockchain technology. In the same year that he learned about the technology, he co-founded a company called BitSE. This is the company that lead to the creation of VeChain. In the beginning however, the “cash cow” of BitSE was Bitcoin mining.

According to Tech In Asia:

“BitSE was generating five percent of the world’s bitcoin supply at one point.”

So not only was Mr. Lu an early cryptocurrency adopter, he was responsible for one of the world’s largest mining operations. During that time, BitSE operated out of the “Sichuan province where electricity was cheap.” It wasn’t until 2015 that VeChain was officially founded. Also, it wasn’t until 2015 that Mr. Lu stepped down as CIO of LV China to pursue working as VeChain founder and CEO full time.

VeChain Founder Sunny Lu describe’s what blockchain is.

Lu has become quite an authority on blockchain and has appeared on CNBC and numerous other news sources. He has stated that while he believes in blockchain, more importantly he believes the Chinese government wants a future with blockchain technology. While on CNBC, he stated that blockchain is so important that it has been included in China’s five year plan.

Crypto Up Close decided to investigate more and discovered that blockchain was included twice in China’s five year plan. It was described as a technology that will “drive the cyberspace to evolve from the Internet of Everyone to the Internet of Everything.”

It comes as no surprise that VeChain’s founder would know the government’s exact stance on Blockchain. VeChain currently has a headquarters in Shanghai and has already partnered with the Chinese government.

According the Mr. Lu, the biggest difficulty for VeChain and blockchain as a whole will be educating the “market and consumers.”

“We are in the territory of cutting-edge technology – Blockchain – and the greatest challenge we are facing is to educate the market and customers.” – VeChain Founder, Sunny Lu, Interview by Frost & Sullivan

Just for fun.

Favorite films: Back to the Future, Leon: The Professional, The Matrix, Star Wars, Pulp Fiction

Favorite Games: World of Warcraft, Poker

Follow Sunny on Social: Twitter