The convectional supply chain management has been blamed for many shortfalls from production, warehousing and distribution of products leakages. VeChain (VEN) seems like the long awaited solution to the problems in the sector. This is a platform that helps the supply chain participants get the best for their money value.
VeChain (VEN) offer solutions in the supply chain management by deploying the blockchain technology. At the moment, these processes are intimidating and tracking products from the ingredient level to the end-user is hectic and time wasting. Based on distributed ledger, you can now tell apart what is original from the counterfeits.
Why VeChain Now?
The consumer has always demanding and is focused on quality products that are technologically authenticated. You need a product that you can identify in terms of quality and originality. There is a lot of awareness on the side of the consumer and are looking for a system that gives the confidence on what goes into the products they buy, how they are stored and how they get to the local outlet.
The VeChain ecosystem captures are details from the ingredients, the manufacturing process and warehousing among others. With the platform, you can verify from existing immutable entries to ascertain how genuine your favorite product is. It creates an ecosystem that is secure, transparent and accessible to all users to instill integrity into the supply chain management sector.
How Does VeChain (VEN) Operate?
VeChain is an asset digitalization platform that seeks to give the consumer an improved supply chain management. With the VeChain ecosystem, there are no weak points where unscrupulous traders can manipulate the system and add fake or counterfeit goods or products.
Manufacturers working with VeChain are assigned unique identities linking the network. These numbers are placed on each product for the purpose of tracking. This way, their movement can be tracked through the entire supply chain. All supply chain participants and consumers can track products using the system.
The VeChain Identity (VID) technology generates numbers randomly that cannot be manipulated just like Quick Response (QR) codes. Once assigned to products, the level of authenticity and quality is maintained.
Why Use VeChain Network?
With VeChain, you are protected against fraud; you can to track products from the manufacturer, through the warehouse to the point-of-sale. You are in control of what you consume since you know it is genuine.
All products are fitted with VID and if fakes products are added along the supply chain, they can be easily picked. This gives you and environment that is transparent. You only get what is authentic and in case you have complaints, you can track the product back to the manufacturer.
With VeChain, you own the supply chain management process. You have the ability to track your digital assets. This is a smart contract based ecosystem and you own your private key thus unauthorized platform participant cannot temper with your products without your authorization.
Why should you invest in VeChain (VEN)?
VeChain is a new digital coin in the market and is currently trading at $7.07 with a growth of 19.25% in the last 24 hours as per CoinMarketCap charts. With a market cap of $3,355,333,827 and a 24 hour volume of $184,907,000, it is your best investment bet.
This is an awesome long term investment project and in five years it should hit the $75 threshold. However, this prediction might turn out wrong if manufacturers and information database entities come onboard; the price could sky rocket to $100.
As a product and information management ecosystem investing in VEN means you are outing your stakes in a system that is set to revolutionize the supply chain management sector across the globe. Investing in the VeCain (VEN) coin means you are participating in a blockchain technology that has the potential disrupting the supply chain management.