Ken Carmody COO of Finscoms
VeChain is a project established in June 2015 and had ICO held in August 2017. It is managed by VeChain Foundation which was established in Singapore. VeChain is a trust-free and distributed business ecosystem based on the blockchain technology. It focuses on variety of different solutions for different markets including liquor, luxury goods, retail, agriculture and logistics. It will be using a combination of blockchain, IoT (Internet of Things) devices, unique IDs and NFCs (near field communication).
VeChain Team
VeChain has a large and diverse international team comprising seasoned professionals with real domain expertise. The “non-whitepaper” presents a sizable team of 20 members, most of whom have been on board since 2015. CEO Sunny Lu was previously Co-Founder of BitSE (a Chinese software company that has produced other well-known cryptos like QTUM), and prior to that Sunny was CTO and CIO of Louis Vuitton, China. Other members of the management team have similar backgrounds and previously held top posts in Fortune 500 companies.
Niche
It is aiming to be a global information transformation platform on blockchain technology and will therefor compete with Modum, Walton and IMMLA. However, there is plenty of room in this sector.
Price Prediction
The average prediction long term for VeChain is north of $40. By the end of 2018 it is predicted to reach roughly $20.