VeChain (VET)

VeChain (VET) is a blockchain platform designed to improve supply chain management and traceability. It was founded in 2015 and uses a combination of blockchain technology, Internet of Things (IoT) devices, and RFID (radio-frequency identification) tags to track products throughout their entire lifecycle. The platform aims to increase transparency, authenticity, and accountability in supply chains by enabling real-time tracking and monitoring of products, from the raw materials to the finished products. This helps businesses and consumers to identify and eliminate any potential issues in the supply chain such as counterfeits, fraud, and poor quality. VeChain has partnerships with several global corporations including BMW, LVMH, and Walmart China, who are using the platform to manage their supply chains. In addition, the company has its own cryptocurrency, VET, which is used as a utility token to access services on the VeChain platform, and also serves as a store of value for transactions. Overall, VeChain's technology has the potential to revolutionize the way products are tracked and managed in supply chains, making them more secure, reliable, and efficient.