Sunny Lu: Reaching Business Consensus: A Tough Yet Important Task

  • It might be of higher priority to explore the business value of blockchain rather than solving technical issues. After all, technology is supposed to serve the real economy and create business value before it continues to develop.
  • Blockchain is an “invisible technology”, to some extent, it can be compared with the underlying technology architecture of the Internet.
  • Only with professional teams and enterprise level applications can we promote the development of blockchain technology and in turn, boost its mass adoption.
  • The The VeChainThor Blockchain comes with various innovative technical features, such as fee delegation, multi-party payment protocol, multi-task transaction, and more.
  • With VeChain ToolChain, users are no longer required to pay attention to the underlying blockchain technology. All that they need to do is register their businesses and products on the VeChainThor Blockchain. In addition, VeChain has been constantly standardizing VeChain ToolChain and adding more modules to it.
  • With this in mind, we are positioning ourselves as an “enabler” between blockchain and real business use cases. We are looking at this matter from the perspective of the product manager — we put ourselves in their shoes and think about what tools and services we should provide as a public blockchain platform to meet the demands of each individual builder.
  • We also have a one-stop centre for all our technical documents at VeChainWorld. In addition to that, we host the annual VeChain Summit, which is a global conference that provides startups with an opportunity to network with established enterprises and see how they can work together to build valuable applications on the VeChainThor blockchain.
  • VeChain is working with San Marino on three issues:
  • It’s more about business consensus to promote the mass adoption of blockchain. Business consensus can be more difficult to reach than technical consensus. I hope that the companies in the blockchain industry and traditional industries can be more open-minded in this regard. It’s of vital importance. BYD, a partner of VeChain, and Karma, a company that we had talks in the morning panel, had made their in-vehicle system and platform open-sourced before adopting any blockchain-based applications. Only open platforms can attract more players and participants onboard.
  • With technical and business consensus in place, we also need to have a governance consensus to create a more equal and fair environment. The governments and regulators need to play their roles as well. A compliant, fair and cooperative environment is essential to enabling blockchain to go mainstream.

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VeChain Foundation

VeChain Foundation

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The VeChain Foundation is a non-profit org. based in San Marino, Europe. VeChain's blockchain tech is enabling real-world digital-sustainable transformation.