In 2017, the revenue generated by counterfeit goods reached 2.5% of the world’s entire trade by volume, about $450 Billion. Of that amount, 30% of those counterfeit goods originated in China and Hong Kong. Enterprise blockchain solution, VeChain, aims to build a trust-free and distributed business ecosystem that can be self-cycled and expanded. This cryptocurrency currently trades for $6 a coin, however, with its National level partnership with the government of China, world-class partnerships with billion dollar corporations, and it expansive use case across all industries, VeChain can easily reach $100 a coin in the next 2 years.

Basics:

The VeChain project was launched in June 2015 from Singapore. VeChain is China’s leading blockchain solution that aims to increase transparency and trust throughout every business process VeChain’s blockchain will run on a two coin system. THOR will be used to power the underlying blockchain and to execute smart contracts on the decentralized applications. VEN will be used to generate THOR at a minimum rate of .00042 per VEN and VEN holders of large amounts (nodes) will validate transactions Ticker: VEN

Price: $6

Ranking by Market Cap (Token): 19

Market Capitalization: $1,670,170,943

Circulating Supply: 277,162,633 VEN

Max Supply: 867,162,633 VEN

Average Trading Volume: $159,879,000

Consensus: Ethereum consensus

Team:

The VeChain team is lead by CEO Sunny Lu. Mr. Lu was the co-founder of Chinese internet company BitSe who created the cryptocurrency giant QTUM. Previous to his role at BitSe, he held the position of COO and CIO of Louis Vuitton’s Chinese division The VeChain project has one of the largest teams in the cryptocurrency space with a headcount of 60 plus people VeChain’s board of advisors is also very extensive, with some of the more notable names listed below:

Chun Yin Cheung : partner in PwC China’s Risk Assurance Practice

: partner in PwC China’s Risk Assurance Practice George Kang : CEO Greater China Region, DNV GL

: CEO Greater China Region, DNV GL Bo Shen : cofounded Bitshares, Qtum, and ZCash

: cofounded Bitshares, Qtum, and ZCash Daniel Kelman & Nan Ning : Founders of BitOcean Japan

: Founders of BitOcean Japan James Gong : CEO of ChainB.com

: CEO of ChainB.com Roland Sun: Partner of Chinese law firm, Broad&Bright

Drivers of Growth:

VeChain has numerous National level partnerships with the government of China. Most recent is with the State Tobacco Monopoly Administration and China Central Government-owned China National Tobacco Corporation. VeChain will provide proof of origin and anti-counterfeit technology to track Chinese produced tobacco products throughout the entire supply chain The entire city of Gui’an has been granted preferential policies, funding, and privileges directly by the State Council of the People’s Republic of China. VeChain is mandated to be Gui’an’s exclusive blockchain technology partner in transforming this technology hub into a smart city VeChain has partnered with DIG and PwC to build a liquor tracking platform. DIG is a state-owned distribution center that accounts for 30% of all Chinese imports. China is also the fourth largest importer of wine in the world, which means that by 2021 VeChain technology could be on 1.2 billion bottles of wine VeChain is also partnered with Liaoning Academy of Agricultural Science. The Liaoning providence is home to over a million greenhouses and accounts for a large part of Chinese exports. VeChain will provide the Academy with data relating to climatic change, soil regime agriculture, crop growth status, water and fertilizer use, equipment adoption status, and even remotely controlling the process of irrigation and cooling VeChain has collaborated with the Renault Group to build a digital maintenance book for the manufacturer’s cars VeChain has also recently teamed up with Microsoft to build automakers a digital passport for cars VeChain has formally teamed up with the state-owned enterprise Unicom China to help modernize the telecom industry in China The VeChain protocol can be and has been used in virtually every industry VeChain holders are able to generate passive income, as each VEN will generate .00042 THOR Breyer Capital recently purchased a large stake of VEN coins

Headwinds:

Since regulation will always trail innovation, the digital currency space can be subject to new regulations in the future There is a bit of competition within the Chinese enterprise-grade blockchain solution from WaltonChain, however, they do not have the formal support of the Chinese government

Summary:

It becomes clear very quickly that there is no shortage of uses cases for VeChain’s technology. From specific applications, like luxury goods tracking, to modernizing the entire city of Gui’an, VeChain will undoubtedly be China’s blockchain. VeChain has also sealed its leading place in adoption by partnering with multiple National level partnerships with the Chinese government and countless other multi-billion corporations. With the strength of these tailwinds, I for-see VeChain easily touching $100 per coin in the next 2 years.