VeChain Is A Sleeping Giant… VET PRICE ANALYSIS

in this video i want to focus on just one of the 
many services which vechain offer and one which   tends to be overlooked by the majority of crypto 
social media influencers who are obsessed with   making short-term price predictions and of course 
i'm talking about vechain's product authenticity   services well one of the functions is the ability 
to provide information about product authenticity   and a decentralized ledger which greatly reduces 
the risk of counterfeits being sold and passed   off as legitimate and when we are using the 
blockchain and its decentralized you're levelling   the information playing field and we're greatly 
resolving the age-old asymmetric information   problem and hey if you're enjoying this video 
so far we have a lot more video and content   out daily so be sure to subscribe for that anyway 
the way that it works is that featuring employer   technology called radio frequency identification 
and they do that in the form of smart chips which   are built into the product tags and sensors and 
they then broadcast the relevant information   onto the blockchain network which authorized 
stakeholders have access to and what this means   in practice is that vechain have the ability to 
provide information regarding the authenticity   of products the temperature which they have been 
stored at which is very important for perishable   goods and also things like the transport medium 
and they can do this from the manufacturer right   up until the product is handed over to the end 
user and what all of these services add up to in   my view is data and data really is the new gold 
as whoever has the best data in business wins   just think about amazon and wayfair and walmart 
and while this all may sound great you may be   wondering whether these capabilities are actually 
useful and applicable in real-world business you   see the ability to create value in the business 
world relies upon whether you can create value for   others and vechain services have the potential 
to change the way that business is being done   customers are demanding and getting more and more 
information about the products that they are using   and people in 2021 want to know everything that 
there is to know about the products which they   are buying and bringing into their homes we are 
living in a world where people are worried and   with good reason about the ability of everyday 
products to collect and use their information   in ways that they have no idea of and it's not 
just that either but the number of counterfeit   products being produced in the luxury goods market 
has grown by a factor of 10 to 1 since the change   of the millennium the counterfeit industry has 
really modernized over the last 20 years and   the quality of counterfeit products has really 
improved which may sound like a good thing but   it's actually not because they still tend to 
be made of cheap and often dangerous materials   it's just that on the face they are much more 
similar to the originals and therefore much   harder to tell apart and with the advent 
and growth of 3d printing and improvements   in manufacturing technology the pressure 
of counterfeits on the market which is   already costing businesses billions of 
dollars annually is only likely to grow   one of the examples where vechain could be used 
in real world business and one which resonates   with me is a restaurant business like me a lot of 
people want to know more about the food that we   are consuming but right now it's not common and 
it's certainly not practical for food retailers   to provide in-depth information regarding product 
traceability unethical practices in agriculture   and farming are becoming far more common and 
i know that any restaurant which could provide   in-depth product information like vechain 
provide and on a decentralized blockchain so   i know that it's accurate would definitely have 
an advantage over their competition in my mind   and i'd definitely be willing to pay a premium to 
guarantee product quality and i'm sure that many   other people would as well and that's just one 
of the ways that this one vechain function can   provide value in the business world and if you can 
provide value you can also reap value and you know   i'm not into short-term price predictions 
but as far as long-term value is concerned   the restaurant industry alone is worth trillions 
of dollars annually and for many of the businesses   in this space all around the world Vechain 
services would create real value which would   allow these businesses to charge more for their 
premium products and therefore earn more profit   and at the end of the day that's what matters in 
business if you can make money for others they   will pay you a part of that money if it means that 
they are still earning more on a net basis anyway   that's all for this video if you enjoyed then 
don't forget to subscribe thanks for watching you

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