Hello smart investors! Today I will tell you about a crypto which is called the Vechain. Before starting, I invite you to click on the "Subscribe" button just under this video, to subscribe to the YouTube channel like more than a thousand investors smart. Let's go ! Vechain is typically a crypto which we does not hear too much talk but still has quite enormous potential. It is a Chinese project, so today it is still the 16th largest crypto. So still a relatively well-known crypto, therefore of Chinese origin. They are now deployed all over the place, they have offices in Europe, everywhere in Asia, etc. The idea of this project is relatively simple, in any case the idea is as follows: it is to allow traceability on logistics chains. This is, me, a subject that I find absolutely important, brilliant, and it is for me really top to have, to address this subject. There is an enormous amount of things to do. The idea is in particular to manage questions of authenticity and Vechain they are interested initially at the market, three main markets: luxury, wine, and the automobile.
So you have to know that in China, for example, since it is a project of Chinese origin, more than half of the wine sold is fake. It is simply fake wine, in fact largely French wine, unfortunately. So what is fake wine? Well it could be a fake label on a wine that is not what we say inside, it can be bottles reused, it can be bottles where we took a bottle to make two, we siphoned off half, it can be a lot. It's wine that says it's a thing and it's not, that's very very problematic. And I have a personal experience in China: once, one day, in a restaurant which was not at all a luxury restaurant, on the menu, I order a drink of French wine and I am not a wine expert but I could taste very well, it was obvious that it was not a French wine, it was something that I did not recognized, that I had never tasted in my life, and so I was absolutely certain that it was a fake. But I paid the price for a French wine.
So it's a thing, you know, that happens really very, very regularly. Luxury, the same. So there are a lot of fakes in China, as you know, including in luxury. Vechain, the relatively simple solution, is throughout the supply chain, all along the way, from the flow of the bottle of wine, from the estate to the customer end, or from the factory that produces the luxury goods to the end customer, etc., to allow to follow these goods, these consumer objects, with either an RFID tag or a QR code. So, from a technological point of view, it's very simple: we put a tracker on the object in question simply and, at any time, you can scan, either by scanning the QR code, either by scanning the RFID by contact, knowing where the object is, what is its origin, and is it a real one. Obviously, as it's in a blockchain, I'm not doing a discovery course again of the blockchain, it is absolutely inviolable.
So, if ill-intentioned people want to bring in other objects, other bottles of wine on this blockchain to pass them off as real, well they don't obviously will not happen. And, vice versa, if an object, we scan it and we see that it is not on the blockchain, well we know straight away that it is false. Knowing that from what I read, from what I understood, Vechain's policy it is extremely strict, that is to say that if there is a doubt, if there is an object which is defective, if the label is a little torn off, that we can no longer read the QR code or whatever, automatically it's considered a fake. And it's pretty good news that there is zero tolerance, that means that we can really be sure, for those we manage to identify, that they are true.
So this is a very important subject. So, it is true that in France, in Europe, we see it perhaps a little less. We see a lot of fakes in China of course, as I just mentioned, it is unfortunately ubiquitous. That said, they work for example with the Renault group apparently. So Renault did not confirm that they were working with Vechain, it's kind of rumors on the Internet, it is not necessarily rumors strictly speaking but it is that we hear but that are not necessarily confirmed.
So Renault did not confirm, to my knowledge, that they were working with Vechain but they would potentially work together, maybe it's something they want, for the moment, they do not want to give, to declare publicly, on the traceability auto parts. The traceability of automotive parts and industry is something that Vechain also wants to attack. And, indeed, Renault is the same thing. Auto parts, they travel between different factories in many places from France and Europe, and that is obviously very expensive, and that makes them, it is very problematic for Renault if these parts are found lost somewhere in the nature. So that is another sector closer to us since, there you are, Renault is French, Franco-French, it takes place in France, in Europe, and therefore it concerns us. So it's a crypto, that's it, with a very simple application, well very simple, it's very concrete it is very easy to understand and explain. It exists, it already works today, they have customers, it's more than what we can tell about a lot of cryptos.
And so, that's why I'm telling you it's a crypto, good at the same time, it's very big obviously, the 16th largest crypto, at the same time I find a little bit undervalued compared, well we do not talk much about the potential that it has, while once again there is concrete application. Remember, smart investors are looking for crypto with apps concrete that are not there for hype, for trend, for fashion, who are there to produce results, to be there in the long term, and to apply in the real life. That is extremely important and this is the case with Vechain, and that is obviously Extremely important.
They also have a partnership today with all these bottles of wine, with the largest importer of wine in China, which apparently accounts for 30% of the the sale of wines in China. I don't know if you realize but China is still very big, it there are still a lot of people, it represents 30% of the wine market in China with elsewhere, I think, a good part of French wines, so much the better for us, that makes us export; and therefore, who already use Vechain technology on their bottles today wine, etc., etc. So this is mega concrete, this is mega solid. So $ 1.5 billion in market cap, that's it. 16th biggest crypto today, in the ranking. Vechain, so the sign is VEN, they want to rebrand in VET, so it should happen in the coming weeks. But it will remain as the name Vechain, the name VET will be with the passing name of Vechain to Vechain Thor.
It's basically branding, that's not what matters. But obviously, it's still the same token. I'll end by telling you that they also work with PWC, PricewaterhouseCoopers, which is still a relatively well-known company, and that they have a partnership with the Chinese government. So, again, it demonstrates in concrete terms the application of their project and it's not funny at all. They also have an extremely extremely strong team, a team of developers and co-founders which is absolutely awesome, and there are people who say it would be one of the best teams in the crypto world today, that would be the team of Vechain, these guys are such stars. So that's why, for all of these reasons, that I find this token to be extremely interesting and we may not talk about it enough, so I wanted to talk to you, introduce it to you a little bit.
Tell me in the comments what you think. Do you think this company has a future with concrete applications that it has already put in place today? Don't you believe it at all and why? It obviously interests me to know that. Tell me that in comment. Do you want to buy some or not? Obviously, if you want to know if I buy, when, at what price, as usual, you are free to join my club private "Leonis Crypto Mastermind" in which, every week, I give you a cryptocurrency in which I invest my own money and in which you can invest your money, I put the link in the description. If you've made it this far, it's because you liked the video, at least I hope so. If so, don't forget to put a little “Like”, it's always nice. Obviously, don't forget to subscribe to the YouTube channel "Leonis" like over a thousand smart investors. I tell you very soon for a next video. Ciao!.