What is VeChain (VET)
VeChain (VET) was one of the first blockchains designed specifically to satisfy the needs of the enterprise-level clientele. The project’s creators aim to enhance supply chain and product lifecycle management through the use of distributed ledger technologies (DLT). Importantly, the app provides consumers a range of new capabilities that make it suitable for organizations looking to develop supply chain protocols and business processes.
Today, the logistics industry is suffering from an asymmetric intelligence crisis. Although a vast volume of data is obtained by the programs in operation, this data is not transmitted in an ideal way. In most situations, extreme compartmentalization leaves the entire supply chain to depend on centralized data sources. This lack of unity results in a lack of accountability and delayed delivery of data.
VeChain offers companies the opportunity to monitor an immense volume of data. These metrics can include items such as consistency, authenticity, storage temperature, and transport status. Impressively, VeChain delivers all of these capabilities through a trust-free and distributed enterprise environment. In this way, VeChain reduces overheads and increases transparency.
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