What is VET

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.The VeChain token used in VeChain platform is called VET. VET is like the fuel which supports VeChain’s distributed platform. All participants using the VeChain platform must use VET to get products and services. The VeChain foundation is a non - profit entity established in Singapore in July 2017. The foundation will act as VeChain sponsor entity, committed to VeChain’s development, construction and governance, transparency, advocacy and promotion work, and promote the safe and harmonious development of open source communities.