Former Louis Vuitton China CIO Lu Yang will lead the company's blockchain anti-counterfeiting platform Vechain business

Recently, blockchain technology company BitSE has been very active. Shortly after launching Vechain, a blockchain-based authenticity verification platform, it officially announced today the appointment of company COO Lu Yang to lead the company's Vechain business.

Lu Yang previously served as CIO of Louis Vuitton China and IT director of Bacardi China, a high-end wine brand. He has a deep understanding of the luxury industry and digital media marketing. Vechain will leverage Lu Yang’s experience in the above industries to specifically target the serious counterfeit problems of these high-end brands and provide companies and their customers with an anti-counterfeiting platform based on blockchain technology.

Lu Yang said:

The currently commonly used anti-counterfeiting technologies include unique product packaging, QR codes, RFID, and NFC tags, but these technologies all achieve a certain degree of anti-counterfeiting by increasing the cost of counterfeiting. As for digital identifiers such as QR codes and RFID/NFC, they can theoretically be copied due to information isolation, and the cost of copying is very low, so they cannot achieve complete anti-counterfeiting. In comparison, Vechain can achieve data immutability and security based on blockchain technology, thereby achieving true anti-counterfeiting.

It is understood that Vechain's anti-counterfeiting based on blockchain technology consists of three parts:

The first part is a specially designed blockchain embedded NFC. In this design, NFC is no longer just an electronic plain text display label, but a unique electronic label in the world guaranteed by an asymmetric encryption algorithm. At the same time, users can verify the authenticity of the product through ordinary mobile phones.

The second part is the VeChain blockchain network information storage. After passing the authenticity verification, the mobile application will read the product information distributedly stored in the special blockchain. This information can include all information on product design, production, logistics, sales, etc., so as to achieve full transparency of the supply chain for manufacturers, distribution channels, regulatory authorities and end users;

The third part is a product management and release platform for manufacturing enterprises. This platform will enable manufacturing enterprises to release new products extremely conveniently and effectively, and increase their social credibility.

VeChain's solutions have a wide range of application scenarios in various industries. The company will focus on luxury retail, alcohol and beverages, and food safety, and cooperate with relevant regulatory authorities to create an integrated commodity anti-counterfeiting credibility zone platform.

Currently, the Vechain platform has completed the POC and is open to enterprise demos. In the future, the API interface will be gradually opened to enterprises in need. Since BitSE has a full stack of blockchain technology, the currently hotly discussed smart contracts will also be useful on the Vechain platform.

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