I am a commodities guy. I like investing in things that real people need, in the every day real world.
Oil, Gold, Beef, Cotton, VeChain.
Yes, you heard me. VeChain.
⚠ Speculation Disclaimer ⚠
Some of the arguments made in this post require a bit of forecasting, so for the sake of moving forward let's just consider VeChain outcomes in the same league as Commercial Space Flight. Something that doesn't quite yet exist in its full commercial state, but a likely outcome based on existing evidence of progress.
Proof of Purchase™
As the fans already know, VeChain solves a single-case, hair on fire problem: It creates an instantaneous way to verify the authenticity of something tangible and provides breadcrumbs throughout the supply chain to validate its claims.
This is a stupid simple concept that can be instantly recognized by everyone without needing a complicated explanation. You go to the store, you buy something advertised a certain way, you got exactly what you paid for, you know where it came from, etc.
The use cases for VeChain in the product / supply chain space are vast:
- Proof of Purchase / Counterfeit Protection
- Customer Quality Assurance
- Distribution Optimizations
- Inventory Management... etc
All of this alone gives me reason to believe that the value of the coin will moon - but beyond the objective of creating a streamlined logistics platform, what is the actual deep rooted concept that gives it value. I argue that it is "Commoditized Trust".
Trust as a Commodity
Authenticity is a rare & priceless concept. How do I know without a doubt that something is what it claims to be? There are many philosophical thoughts on this subject, but in the end the only way to validate a truth is by verification through an immutable signature.
Now, the reality of blockchain technology is that while decentralized databases have significantly increased the integrity of data, it isn't perfect. Blockchain "immutability" is just a measure of complications between a lock & a key... and with enough effort a key can be forged.
Because true immutability can not be achieved at this time, we can never really arrive at "truth" algorithmically, but we can arrive at "trust". Therefore, the best we can do is create a signature system that is good enough to establish trust, and pair it with evidence based data points to validate claims.
This is exactly what VeChain is doing, and it is brilliant.
Dare I Say Trust Protocol?
Why am I talking about this weird trust stuff? We'll I hypothesize that that VeChain may actually be more than meets the eye in regards to its value proposition. We may be looking at protocol for information validation across communication systems...
A scenario for you consideration:
In a world of fake news and garbage media, people are constantly being exposed to irresponsible journalists, political bias, click bait headlines, etc. Let's say you wanted to be a billionaire, so you decide that you are going to create a better international news product than the swill that currently exists. To accomplish this, you will use the VeChain blockchain to expose your news product development process through a visible supply chain. Your customers now have insight into everything that was involved in the creation of your information product. This product becomes trusted and preferred to others simply because of its ability to source itself from the ground up. Other news conglomerates are too deep in the pig trough to adopt that level of transparency. You fall asleep on a pile of cash, remembering that time you read this exact scenario from a random steem post.
A Ride Into The Sunset
If you are looking to get in on VeChain before the word hits the wallstreet bro's, now is probably the time. 2019 will be a great year for the VeChain Project & crypto in general. I'm definitely looking forward to all of the amazing things that will come from this super interesting project.
VeChain (as of today) is now available for purchase on Binance in its final form (VET) - if you thought the above was interesting, you might be interested getting in (or getting a few more) while the opportunity exists.
https://www.binance.com/?ref=22570756
🍕✌😎
