Vechain receives millions of dollars in investment and launches the first blockchain-based anti-counterfeiting platform

China's first blockchain-based anti-counterfeiting platform "Vechain" will be released soon. The platform's English name is "VeChain", which means Verification Chain, and its Chinese name is "VeChain". It is reported that this is China's first blockchain-based正品身份防伪识别and透明供应链管理platform.

VeChain founder introduced:

“VeChain is initially committed to providing a blockchain-based authenticity verification cloud platform, and will expand to the fields of supply chain management and business smart contracts in the future. VeChain is committed to implementing the concept of Blockchain as a Service (BaaS), that is, treating blockchain as an infrastructure and building various applications on it to meet the needs of ordinary users.”

In terms of products, VeChain will use the special data structure in the blockchain, namely the Hash Pointer, to ensure the immutability of data through the end-to-end connected hash pointers; the security of public and private keys will be guaranteed through the elliptic curve digital signature algorithm (ECDSA) of encrypted currency. Through the deployment of decentralized applications Dapp (Decentralized Applications) based on blockchain, the decentralized storage of data and the execution of business smart contracts will be guaranteed.

VeChain Product Manager introduced:

"VeChain's product solutions are divided into two parts. For消费者, it will provide IOS and Android versions of mobile applications, so that consumers can easily, quickly and accurately obtain all product circulation information and whether the product is genuine through mobile applications. For品牌生产商and零售商, it will provide a brand backend management cloud platform. This platform is a semi-open platform. All VeChain-authorized partners can access the platform at any time and manage their own brand products. In addition, VeChain will also release an NFC anti-counterfeiting chip based on blockchain technology. The anti-counterfeiting chip is unique and non-replicable, and can be easily embedded in the products that need to be verified."

VeChain has completed a seed round of financing of数百万人民币. Its team members come from well-known companies such as IBM, Alibaba, and Louis Vuitton. They have decades of experience in product development and product management, and have relatively rich experience in the Bitcoin industry and blockchain technology development.

VeChain founder said:

“VeChain will initially enter the luxury goods sector, and later expand to daily consumer goods, food, artworks and collectibles, as well as customs and government supervision departments, so that blockchain technology can be truly applied and the technology can ensure the credibility and reliability of the solution.”

According to Vechain.com, the product is currently in the beta stage and you can apply for a demo version. In addition, if you have any questions about the Vechain project, please contact: [email protected]

Editor: Meng Dada
Source: Babbitt Information (http://www.8btc.com/vechain)