Lu Yang, co-founder of BitSE: Only when everyone participates in anti-counterfeiting or anti-counterfeiting can it be truly successful

The 2nd Blockchain Global Summit 2016 was held in Shanghai from September 19 to 24, jointly organized by Wanxiang Blockchain Lab, a Chinese blockchain industry promoter, Ethereum, a blockchain smart contract platform, and Blockchain Pencil. The global summit brought together more than 1,500 technology developers, IT geeks, investors, and blockchain startups from all over the world, setting a new record for global blockchain-related activities.

BitSE co-founder and COO Sunny Lu Yang was invited to attend the conference and gave a wonderful speech during the project demonstration session.

You may be wondering why this person came to the stage to give a speech wearing a suit and holding a powder bag? I will explain it to you later.

We are a blockchain startup based in Shanghai. Today I would like to introduce to you our first advanced blockchain project, VeChain. By providing a unique blockchain ID for each product, it has served many projects.

We all know that the Internet was born 50 years ago, giving us the opportunity to access many related products. Like email, browsers, e-commerce, etc. There are also many very interesting mobile apps that have changed our daily lives. We are lucky to live in such an era and have the opportunity to witness so many new industries. And now, we have another revolutionary technology, which was born six or seven years ago, called "blockchain".

What is the role of blockchain?

We believe that blockchain will change the world. I think everyone here will agree that, just like the Internet did back then, blockchain will change the world.

So what can we do?

Our team has been researching the blockchain field for more than three years, striving to transform this technology into a practical implementation plan. So, today I would like to introduce a revolutionary product based on blockchain.

We see it as a revolutionary anti-counterfeiting identification solution that allows every participant, including consumers, to participate and fight counterfeiting with us.

Only when everyone participates in anti-counterfeiting or anti-counterfeiting can it be truly successful and will change everything in this industry. The revolutionary supply chain management and asset management solutions we provide help companies and everyone to track and trace every product and asset. This will change the supply chain system, and it also means that whether we are managing products or assets, we have already gone down to the level of individual products. We also provide a revolutionary user experience, where every consumer can create personal information and establish a relationship with their own products. In this way, they will have a great digital experience.

All these products or solutions are built on a platform, which we call "VeChain". This solution will establish a close connection between people and objects, because we use blockchain technology to add a unique ID to each product.

VeChain is mainly composed of two parts, the front end includes a chipset. It is right here, very small, very thin, a bit like a coin, you can put it in a bag, like the one I just took; or put it on a wallet, like the wallet in my hand. As you can see in the video, no kidding, it is real, and this chip is waterproof, can be folded at will, and can even be placed on the clothes next to the body.

Recently, there is a very interesting client who will launch their next season of designer ready-to-wear on October 11, and we will put chips into these clothes.

We also provide a front-end mobile app, as you can see in the video. You can get all the product information by just swiping the chip, and you can even interact on the client side. For example, you can share photos with your friends. On the back end, there is VeChain's blockchain, and there are some functional systems to make your business process flow. For example, anyone can upload data, retrieve or read data, and there is also a smart contract module to operate product data.

Of course, we can provide more than just VeChain. We are still very far from real commercial applications. We provide a main entrance for enterprises and consumers to manage their products. As I said before, such a unique ID can be put in a wallet or anything, even medicine. Through the mobile app front-end inspection at any time, anyone, including consumers, can track and trace. Because of blockchain technology, most corporate users no longer need to worry about security issues.

In general, as long as there is VeChain, anyone can log in to VeChain and play its role through the Internet. The authorization of each player is controlled by a private key, and data operations are performed by smart contracts. Imagine the entire life cycle of a product, from manufacturing, retail, and after-sales service, every piece of data will be provided to all participants and maintained by everyone. In this way, our products are actually alive on the Internet. Survive on the Internet through VeChain. In this way, a relationship between individuals and products can be established, which is what we call a revolutionary product.

Finally, it is also very important that you can see that VeChain can be applied in various industries. Because of our previous work experience, we started with the luxury industry. We will work with BABYGHOST to release their new ready-to-wear products. At the same time, a VeChain launch event will be held before the end of the year, where applicable scenarios and cases will be displayed. The next step is to expand to more industries, such as alcohol, logistics, food safety, pharmaceuticals, and supervision. We are committed to working with each client to explore the corresponding scenarios and solutions that are suitable for them, and to discover blockchain business services suitable for each industry.

Recently, VeChain has attracted much attention from people in and outside the blockchain industry. Its next two events are also worth looking forward to.

1. VeChain product launch (expected before the end of the year)

2. BABYGHOST 10/11 Cooperation Conference

More details please stay tuned

Company website: www.bitse.com

Vechain www.vechain.com

Qtum www.qtum.org