VeChain officially announced its independent network of blockchain and named it VeChainThor blockchain. Now that the blockchain is live, the network has already generated the first block and hence initiated mining operations. VeChain has been successful in its mission to change its operation from the Ethereum network and cease to operate as an ERC20 token.
By 15th of July, the actual token swap is scheduled to happen as reported by the VeChain platform’s website timeline. Based out of Singapore, this amazing blockchain startup is serving as a (Baas) i.e. Blockchain as a service provider. The platform is focused on offering exemplary services to enterprise level companies in a good amount.
The platform is aimed at offering services like verifying product authenticity and totally preventing the fake products and also adding supply chain logistics to the blockchain network to help multiple enterprises.
The company also announced that it has partnered with DB Schenker, which is a globally recognized supply chain company, to gather important data and evaluated them on the basis of the goods which will be transported in China.
The platform successfully conducted a survey by taking in responses from the shipping executives who are providing services to their respective companies and hold a senior position in their company. As per their responses, the platform successfully could make out that at least 50 percent of them are interested in implementing blockchain technology, which would help them improve their business strategies.
Although the VeChain ecosystem is successfully implementing the supply chain logistics in their system of blockchain networks, they are equally interested in plenty of other things. As per the reports, the company did release a whitepaper as well as a roadmap, which perfectly defines the protocol that can be implemented across things like vehicles, digital IDs, government affairs, IoTs (Internet of Things) and plenty of other things.
How do you think VeChain network will perform after shifting from the Ethereum blockchain network? Do you think it will succeed with its ongoing plan about implementing supply chain logistics to gain trust within the shipping network? Let us know in the comments section below.