BitSe officially launches blockchain product VeChain to create a secure, transparent and traceable consumer goods market

On November 2nd, at Shanghai 1933 Laochangfang, VeChain, a black technology product that will subvert the future, was born.

The Internet in 1995 and blockchain today are changing. It is hard to say whether it is advanced technology that makes great companies or companies that promote the popularization of advanced technology. VeChain has taken the first step in the blockchain technology that is subverting the world.

The launch of VeChain, the first product of Shanghai blockchain startup BitSe, is in progress. VeChain is a commodity ID management cloud platform based on blockchain technology, providing enterprise-level users with commodity asset management, tracking and tracing, anti-counterfeiting verification, new supply chain management, etc. in the form of BaaS (Blockchain AsAService). With the continuous development of products and the needs of corporate customers, four modules have been gradually developed: VAC (Vechain Anti-Counterfeiting) anti-counterfeiting module, VAM (Vechain Asset Management) asset management module, VSC (Vechain Supply Chain) supply chain management module and VCE (Vechain Client Experience) consumer experience module.

Also attending the conference were the former IBM Greater China CEO Qian Daqun, PwC Shanghai Chief Partner Huang Jia, PwC Financial Partner Huang Yao, Wanxiang Blockchain Lab and Distributed Fund Partner Shen Bo, as well as Fosun executives and other heavyweight guests.

BitSE co-founder and CEO Qian Dejun said,

“VeChain can be used in the fields of healthcare, agriculture, transportation, manufacturing, etc. Blockchain technology is the next Internet revolution, and the information currently stored in the blockchain will become more and more valuable.”

Everyone participates in anti-counterfeiting and connects every consumer

"Anti-counterfeiting is a global issue, and it can even be said to be an economic issue. Previous anti-counterfeiting technologies did not solve the problems of ease of use and security, which is why blockchain must be used." In the display of the VAC (Vechain Anti-Counterfeiting) anti-counterfeiting module, BitSe COO Lu Yang introduced it this way.

VeChain Cloud Platform combines two key technologies - blockchain and encrypted identity authentication. Brands and manufacturers can easily read and write chip content, manage true and false permissions, read and write blockchain data, and edit and operate smart contracts in the supply chain through the merchant management backend provided by VeChain. In VeChain's management backend, different merchants can easily analyze and classify product data, and upload all product information to the blockchain in accordance with the merchant's specific review procedures.

Consumers only need to use the VeChain app to scan the chip on the product to view all relevant product information. This makes it easy for everyone to participate in anti-counterfeiting, connect every consumer, and make counterfeiting unprofitable.

Deep cooperation among multiple parties to achieve free flow of data

At the conference, as a strategic partner, PwC China said that since the two sides reached a strategic partnership in May this year, PwC has created risk control and consulting services around VeChain BaaS services to ensure the operation of VeChain from the perspective of corporate operations. Huang Jia, chief partner of PwC Shanghai, came to the stage to express the cooperation method with BitSe and the expectations for future cooperation: PwC and BitSe will share technical teams and customer resources, and in the future, PwC will also reach further in-depth cooperation with VeChain.

In the first half of this year, BitSE and the world's largest freight forwarding company officially signed a BAAS (Blockchain as a Service) service contract in the field of VeChain asset management, using blockchain technology to track and manage freight assets. This freight forwarding company will use this to provide leading logistics services with multi-party participation to global customers. While VeChain serves the freight forwarding company, PwC will escort it all the way and provide business process design and project management services.

Correspondingly, this is also the practical application of VeChain in the VAM (Vechain Asset Management) asset management module and the VSC (Vechain Supply Chain) supply chain management module. Taking advantage of the open, transparent and anonymous characteristics of blockchain, VeChain provides users with a universal unique digital ID, enabling different companies to access the same platform and achieve unified logistics management and cargo tracking. This solves the problem of information flow being easily fragmented in the supply chain, enables data to flow freely in different links of the supply chain, and extends the flow of goods and assets from within the company to anywhere on the Internet.

Give the product a unique memory and create a unique consumer experience

In the VCE (Vechain Client Experience) consumer experience module, Vechain has managed to give each product a unique memory.

In October this year, at the spring and summer show jointly held by VeChain and fashion designer brand BABYGHOST, 20 models showed new ready-to-wear clothes implanted with VeChain chips. By scanning the chips, you can see the interactive images of each sample and the previous wearer. For consumers, this will be an unprecedented consumption experience. Not only that, based on this function, by recording every try-on image, VeChain can also help brands record and select the clothes that are tried on the most but not bought, so that brands can transform them into hot-selling products in a targeted manner.

The future is here, VeChain promotes blockchain applications

The theory of blockchain technology is obscure and difficult to understand, but VeChain is committed to turning this disruptive technology into practical application scenarios.

The blockchain-based cloud platform created by VeChain truly connects manufacturers, distribution channels, supply chain logistics, regulators, retailers and consumers, achieving universal participation in the blockchain and barrier-free connectivity in all links.

Turing, the father of computers, once said that we can go beyond our imagination. In this era, no one would have thought that the black technology that will have the greatest impact on the next few decades has arrived, and blockchain is leading us into the next Internet era.

The blockchain technology that will revolutionize the future is accelerating its implementation with an unstoppable momentum, and VeChain has taken the first step.

Live broadcast of the press conference: http://c.youku.com/vechain