VeChain Tech Deep Dive Series VeChain Tech Deep Dive Series Session 3 Episode 1 Hello everyone. I will be with Goo today. Let's take a look at the third session of the VeChain Tech Deep Dive series, enterprise-grade applications and solutions. First, let's review what we discussed last time. It is a VeChain tech stack that consists of three main parts. In the first session, we talked a lot about embedded systems and hardware. In the second session, our lead scientist, Dr. Peter Zhou , introduced the blockchain core, which includes smart contracts, application services, and more. Today, let's take a look at enterprise-grade applications and solutions. Before starting this part, I admit that we had a hard time deciding how and what to discuss. There are several issues we need to consider. First, many of our many solutions and applications are closely related to our
customers. So we can't discuss or disclose too much. Second, over the past 2-3 years, we have been constantly collecting new demands from companies. New solutions and applications can be developed accordingly.
Some of the technologies and solutions we're dealing with today aren't out yet, or at least we don't know the details. Some are still in development and some are patent pending. So we can't disclose too much information about this. However, we will try to provide as much information as possible. Thank you very much for your understanding. So let's get started. Yes, thank you, Sunny. First of all, I will briefly explain VeChain applications and solutions. It can be divided into 4 stages. First, the production and supplier management or factory phase. The second is logistics distribution. Third, warehouses and stores, and finally, customers. In fact, demand sometimes varies from plant to plant in each industry.
In fact, demand sometimes varies from plant to plant in each industry. Yes. We need to use blockchain technology to solve the overall problems of the industry and the real economy that will solve their problems. Yes. To do that, we need to understand the needs of these companies. Yes. And there are developers. This is why VeChain is working hard to develop more effective tools and services. To help these companies and developers solve their problems. As Sunny said, during our communication with the company and developers, we made it clear that VeChain always adheres to its principles. Whether the product is manufactured to meet customer needs. And development is done to make better products. We always keep this principle in mind. When talking to developers and companies. We analyzed the needs and needs of our developers. Basically they have 4 kinds of needs. First, the documentation center. You can categorize issues related to the Documentation Center into what, why, and how. For example, what is my product? Why was this product designed? What problems can you solve? How can we solve that problem? Developers want to figure it out as soon as possible.
What we can do for them with our technology and products. That's what the Documentation Center is for. Second, as a fully developed toolkit, it is also important to developers. For example, as a blockchain developer, you will need tools to develop smart contracts. Backend service apps, websites, etc. But for the time being, the tools will not be integrated. So it takes time for developers to find what they need. We want to provide a comprehensive development toolkit. You can use it to develop applications with it. Another issue is about compatibility. We also hope to provide an integrated solution through the toolkit. To avoid compatibility issues that may arise during development. This allows developers to focus on developing their applications. Speaking of tools, we need to consider a slightly more important issue. Someone who helps developers. As I said, there are mainly three types of users in the blockchain community or the larger community. One is either a regular token holder or an end user (end user). Or the end user of the app.
The second is developers. Who do you help them with? In fact, they are working for a company or enterprise. We've been thinking about empowering developers. Again, it's about creating a healthy and healthy business model for them. So you can always find a job for them in the ecosystem. We want to create a positive feedback business model. To incentivize developers to stay in the business pool to ensure a constant influx of cash. Let's move on to the next slide. What do companies and customers want? The needs of enterprise users are somewhat different from those of developers. Security and compliance are the top needs of enterprise users. For example, data security. Especially digital assets. Yes. Digital asset. Because enterprise-level applications are developed to serve enterprises, enterprises need to collect customer information.
The first problem we have to address is ensuring that they follow the rules when doing so. For example, we need to maintain the requirements set out in Europe's GDPR and China's cybersecurity law. Second, for businesses, they also want to get a turnkey solution package that works. This is especially true for small businesses. This is because development resources and funds are limited. Even big companies, like blockchain, when they enter a new field, want to at least make an investment to see how everything works. Especially when doing PoCs or small tests. They want to test in the fastest and easiest way. So they will be able to see the results as soon as possible and decide whether to proceed or not. Turnkey solutions are critical for both large and small businesses. It allows them to do simple tests. In the case of large corporations, especially those who have decided to apply blockchain technology to their entire industry and real economic activity. They will consider two issues. First, can blockchain services be easily integrated? With the existing systems they currently have, ERP and SAP systems. Second, is the new system easy for customers to use? The fewer changes, the better, as the customer is familiar with the existing app.
Simply put, it should be easy for businesses to integrate blockchain services. To make it easier for customers to use the existing system. Moreover, in most cases, businesses and users are unaware that they are using blockchain technology. Because the blockchain is on the floor, it is invisible. And there can be misunderstandings between companies. You might think that blockchain will replace ERP or other existing systems. But it is not. We are developing applications using blockchain technology. Complementary and additional features. Or change an existing business model. That's right. When we say that blockchain activates the real economy, we will talk about the additional features that blockchain adds to the real economy. The fourth important point is the Approved Provider List (AVL). Everyone knows that there are many startups and specialized teams in the field. Each team has their strengths. This means that a business may have a variety of technology or product vendors. Therefore, you need an AVL, a list of approved technical service providers. Only in this way can chain technology be blocked. And other related technologies serve the company's existing products.
It should be noted that AVL is a very important element for enterprises. No company wants to be in any situation, so if you can only choose one or two vendors, you have no choice but to choose one or the other. If so, they may not be able to continue their business later on. Generally speaking, when looking for a solution, companies want to have a pool of different teams. Companies and sellers with different strengths or expertise in providing different services to them. For example, they may need a provider to provide the underlying technology. Blockchain technology, smart contract development support, etc. Or if you want to provide basic services, develop a blockchain application yourself in a company, such as front-end development, system integration or consulting, or want to participate in the blockchain ecosystem, they will need a variety of services. However, there are few companies that can provide these services. Here we wrote "Request for Participants".
By showing detailed technical information and having a DevCon, we can inspire not only the technology, but the team as well. They also have the business capabilities to provide services. To create a positive feedback loop for famous companies to build their apps on our blockchain . Yes, in fact, as mentioned in the last session, we will gradually release our source code. To give other teams access to our technology and to develop more services. It requires the joint effort of our society's teams and companies.
Add more vendors to AVL. Can AVL provide more choices for large enterprises to choose from only if there are more vendors? Yes. For those who want to develop enterprise-grade applications with us, our advice is to first think about where you are. Whether you can build a small team, or an already experienced team, you need to think about the strengths of each member. Some may specialize in smart contract development. Some official validations, some front-end and back-end application integrations or services. You have to find your place first.
And try to become an expert in this field. If you need help from VeChain, please come and let us know..