VeChain, which has recognized the possibility of applying blockchain in the production chain and allows participants to record price, location, date, certificates and other information in order to guarantee product quality.
It is based on blockchain technology, which specializes in tracking and storing product information, and for each product, its VeChain identity is created using smart contracts.
With such smart contracts, VeChain offers the possibility of tracking the ownership and origin of the product, and in order for the customer to be sure that the goods he is buying are not counterfeit or in a worse condition than expected.
There is a VET token as a means of payment on the VeChain Thor blockchain. VET token owners will receive VeChain Thor, which is used to create smart contracts and run applications on the blockchain network, as well as send VET from one address to another.