Written by Metal Team

On June 29, 2019

VeChain is now available on Metal Pay

Metal Pay is excited to announce that as of today, VeChain is now available to buy and sell in our Marketplace!


Proof of authenticity

VeChain’s enterprise-level public blockchain was created with the mission of solving one of the biggest problems in worldwide product distribution: how to determine the quality and authenticity of products, and to identify and eliminate counterfeit goods.

Internet of Things (IoT) technology allows for the data collection and management of real-world objects. VeChain has built its platform to make this technology more secure and verifiable in the interest of protecting all parties, from the manufacturer to the consumer.

Through the VeChain platform, every piece of the supply chain process can be recorded and verified using a tamper-proof distributed ledger that can track the a product from its source materials to its complete servicing history. This has applications for many industries, including luxury goods, electronics, clothing, automotive products, wine and liquor, just to name a few.

Digitization of assets

VeChain plans to disrupt the supply chain industry through the process of asset digitization, which allows manufacturers to uniquely identify the movement of a product throughout its supply chain. VeChain Identity (VID) technology can be embedded into RFID and NFC tags, allowing all of the information and history of a product to be verified. For example, sensors embedded in the product can detect environmental conditions, such as variations in temperature during transportation, which will be stored in the VeChain blockchain.

In a real-world application, a bottle of wine with an embedded VID provides assurance of authenticity to the wine producer, the distributor, the retailer and the consumer. Products with inferior quality, or those intented to defraud the buyer can be identified before they reach the point of sale, making the entire process tamper-proof.

Who’s using VeChain?

VeChain has developed partnerships with many prominent companies includuing Hyperledger, Microsoft, PwC and Renault.

Here’s a short video that showcases some of the exciting and innovative applications that VeChain is designed for.

More information

More information about VeChain can be found on the vechain.org website.

The White Paper is available here.

VeChain’s CEO Sunny Lu is also hosting an 8-hour long AMA Marathon today, live on Twitter!

Local times:

  • 7pm PST Saturday June 29
  • 10pm EST Saturday June 29
  • 10am UTC+8 Sunday June 30

More details can be found here.

VeChain on Metal Pay

VeChain is available to all Metal Pay users, allowing people in the United States to purchase VET token from an FDIC-insured U.S. Dollar account. Those interested in owning a piece of this emerging technology can now buy, store, and sell VeChain with ease.

Keep an eye out for more updates by checking Discover in the Metal Pay app, and following us on social media at: @metalpaysme

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