Review on VeThor Token by Deej Kapoor

Name: VeThor Token
Item: VeThor Token
Rating: 5

January 14, 2019

Sunny Lu, CEO, and his team constantly update us with a very active Twitter…

Sunny Lu, CEO, and his team constantly update us with a very active Twitter account. It is reassuring to be informed of the latest developments and have access to their presentations on the outlook of VeChain.
They have a great, experienced team behind the project who are very careful and thorough. The company has great partnerships and proven working use case already.
VeChain focuses not only on technology but also is ensures it addresses governance issues, building a sound economic model, an ecosystem, and, has the capacity to comply with regulation and changes.
The company has a promising long term potential, with a platform that will hosts DApps for enterprises and an aim of building an Ecosystem. I like their focus on Governance and Enterprise. It is a very scalable project.
VeChain is one of the most established blockchain companies in the industry. Not only do they have clients using a functional product, but they also have a team with extensive experience in the industry they’re targeting.
Having partnerships with giants like PwC and the Chinese government, they should have no problem growing their clientele. Some people may question their shift into the enterprise DApp space, but it looks to be beneficial for customers who are looking for a more robust blockchain solution to their specific business needs.  Sync, a complete environment to build dApps in, will be released in 2019. VeChain will also release a standard protocol for dApps to interact with users called Connex. VeChain will launch a campaign to encourage developers to start building on the VeChainThor platform, offering a reward to valuable dApps. One of the bounties will be for the further development of a side chain running the Swift programming language.
If VeChain continues at their current pace, it wouldn’t be a surprise to see VET as one of the top performers over the next five to ten years.
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Pros

-3 Top Wine Makers have officially adopted the blockchain-powered solution, My Story,which utilises VeChain's network in addition with DNV GL. This is a great real life example to show how one can scan the QR code on a bottle of wine to discover the history of each wine, across the whole supply chain, from grape to bottle. -VeChain has other impressive partnerships: >Chinese government in the Gui’an New Area—this is a economic development project >BMW—the automobile giant company >PriceWaterCooper House— one of the big 4 accounting firms in the world >BYD-BYD will use VeChain’s automobile lifecycle management solution to create a carbon banking structure that will reward vehicle operators with credits according to their carbon footprint, which is based on their driving performance and carbon reduction. Each vehicle operator’s footprint is recorded on the VeChain blockchain, making it verifiable and immutable. BYD will release two new types of cars which will feature the VeChainThor software. >The China State Tobacco Monopoly Administration and the China National Tobacco Corporation. >Kuehne and Nagel—the biggest global sea freight forwarder in the world and second biggest air cargo. >Fanghuwang Financial Services who provide collateral backed loans to small and medium size enterprises. >Shanghai Xiandao Food. Vechain will be integrated throughout the entire supply chain and data management system. >Introduction of Swell. Swell is a third party offering VeChain powered services to the fashion and clothing industry. >VeChain partners with the Fuji MARUMO Tea Garden to verify the origin of their tea products. > BIOS Middle East partners with VeChain to start offering Blockchain-as-a-Service solutions in the Middle East. BIOS provides cloud-based solutions to over 300 companies in the Middle East. -VeChain technology is advanced and can evolve to 4th and 5th Gen Blockchain, and more, if needed! In other words, it can be seen as Blockchain X. -Individuals can take advantage of their second currency, VTHO or Thorpower. This works like NEO and GAS. VTHO is like electricity and VTHO are used to power smart contracts and transactions. Holders of VET receive free VTHO, i.e. a passive income which is calculated on a daily basis! The VTHO has a stable value. -They have a VeChainThor Mobile Wallet available on the App Store and Android marketplace, so you can store and observe your VET and VTHO currencies. -VeChainThor introduced Node tokenization in December 2018. Each Node status will be represented by a Token held in the VeChain Wallet. Using the market found inside the mobile wallet, one can buy or sell a Node Status.

Cons

-Partnerships still need to develop further and accomplish meaningful results. It is still early days, as it is for the rest of the industry. -It is susceptible to volatile price changes, with rest of crypto currencies. -It is semi-centralised and not truly decentralised as other cryptocurrencies are. -VeChainThor currently only supports Solidity for smart contracts, but the team is working together with external parties to add support for additional programming languages like Rust.