China's first blockchain-based anti-counterfeiting platform has been launched and has completed millions of financing

Rage Comment : When explaining blockchain applications, people often ask me what good domestic blockchain projects there are. I think Vechain is such a good project. It was founded by a very senior friend in the domestic blockchain industry. Not only is it unique in technology, but its members can also be called the most luxurious blockchain startup team in China, and there are also first-line business partners from around the world. Of course, such entrepreneurial projects have been favored by investors very early, and many companies have participated in financing. Although there are still very few such good projects in China, I believe that in the second half of the year or the next two years, there will be more excellent projects in China.

Editor: Prince Gong

Vechain: The first blockchain-based anti-counterfeiting platform has been launched and has completed millions of financing

It is reported that China's first blockchain-based authentic identity anti-counterfeiting and transparent supply chain management platform "Vechain" will be officially released. The English name of the platform is "VeChain" (vechain.com), which means Verification Chain. The Chinese name of the project is: "VeChain".

According to the founder of VeChain, 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.

According to VeChain’s product manager:

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 cryptocurrency. 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's product solution is divided into two parts. For consumers, 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 brand manufacturers and retailers, it will provide a brand backend management cloud platform, which 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.

According to the founder, the company has completed a seed round of financing of several million RMB. The team members have rich experience in the Bitcoin industry and also have certain experience in the development of blockchain technology.

The team members come from well-known companies such as IBM, Alibaba, and Louis Vuitton, and have decades of experience in product development and product management.

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

It can be learned from Vechain’s official website (Vechain.com) that the product is currently in the internal testing stage and you can apply for a demo version.

If you have any questions about the VeChain project, please contact us at [email protected]