VeChain reflects on 2018 and shares 2019 outlook

11 Jan, 2019
by Joeri Cant
News
VeChain reflects on 2018 and shares 2019 outlook

The Singapore-based Vechain Foundation posted a video that reflects on its 2018 goals and achievements, while as well giving a sneak peak into the things they have in store for 2019.

Despite the crypto winter conditions, the VeChain Foundation says that 2018 was a phenomenal year for them.

'Since the mainnet launch, we have witnessed the continuous growth of mainnet transactions as a result of increasing enterprise adoption and third party developers on the VeChainThor blockchain.'

VeChain says that it is aware that in the next decade the key driving forces for the development of regulatory environment and industry standard, will be driven by professionals, enterprise adoption and business value.

'Despite the market conditions, our plan of building the decentralized business ecosystem remains unchanged.'

VeChain is a blockchain-enabled platform that is designed to enhance supply chain management processes. Recently the Swedish fashion brand, H&M announced the use of VeChain to provide a detailed info of their product, specifically for their clothing line, Arket.

Read more: H&M fashion brand uses VeChain to provide detail info of their products' origin

VeChain expects to continue to grow its transactions in 2019, with businesses and facilitate mass adoption by building infrastructure services around its VeChainThor blockchain.

'We will provide not only the developer documentation and tools but also smart contract templates, SDKs and turnkey package templates of those essential components needed for most blockchain application such as wallet, tokenized asset issuance, data storage, digital asset management. By this way, developers, startups, and enterprises can plug in those components and focus the efforts on what they specialize in and realize their business ideas.'

Expanding its customer network will be a priority in 2019 for VeChain.

The VeChain Foundation organized a Reddit AMA video just a few hours ago, where founder Sunny Lu answered some of the most relevant questions.

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