Who's Heard of VeChain? Next Big Coin From China?
I've been researching the crypto markets for coins with a solid dev team, actual product, and good communication. Basically, you can't have all of the above during this phase of crypto coins. You either have an OMG situation: heavy twitter presence, skateboarder C.E.O, but no product. Or, like Chainlink: great tech, solid team background, but no communication. AT ALL.
Still, VeChain, seems to have all of the above. There's a solid team with Sunny Lu, who has been involved with major luxury retailer brands, working with the Chinese distributor Louis Vutton. And in the crypto world, he developed BiTSE. He's experienced with both business and cryptos without being bombastic.
The communication is solid, and there is a constant and heavy twitter presence------> VeChain Official Twitter
The infrastructure is there and supposedly the VeChain blockchain has been in development for two years (so it's not like OMG). There are already trading partners in place including major partnerships with Renault, D.I.G (major distributor of wine in China), luxury fashion brands, shipping companies, and even agriculture ¯_(ツ)_/¯
It's listed on HitBTC
All in all, this seems to have been the most professional and a coin that has an actual use in the real world. But, most importantly, this coin addresses a specific concern/ anxiety of Chinese elite: counterfeit goods. With all of the growing wealth in China, there has been a growing number of nouveau riche, who are obsessed with status. European goods (Louis Vutton, Hermes, Givenchy, Chanel, etc.) have become status symbols, and well the Chinese have become a huge market. Still there is always the constant scrutiny from everyone whether or not the actual European product you claim is imported, but is really a well made counterfeit that was made in a rural hut in Guangxi. Authentic imported products are a HUGE status symbol and Chinese go to great lengths to travel abroad, buying up the stock of every luxury retailer just shows the lengths they will go to buy proven authentic luxury items. Well, VeChain fills this specific need, and I see how this coin has an actual use and demand specifically within the Chinese market.
Again, there's the October 18th congress in China, which Sunny will be attending, and expecting an actual firm road map from the team afterwards, unlike some other cryptos...
[link] [comments]
Read More
