VeChain and its vague partnerships
DappLife.com did an excellent drill down of putative partnerships VeChain made with reputed companies like Delta Airlines and institutions like Oxford University. It turns out that, as we are used to in crypto industry, a lot of it is marketing gimmicks and fluff rather than real, substantial partnerships. Here are some excerpts from the post I would highly recommend for reading:
“Four posts that have featured near the top of VeChain’s subreddit over the past few days perfectly exemplify the blurring of lines between credible top-tier partnerships and baseless hype that have long surrounded the project:
1. Rumors of a partnership with Delta Airlines.
2. VeResearch partnerships with higher-education institutions including Oxford University.
3. An article stating that VeChain has been selected to give expert advice on developing blockchain at government level in Italy.
4. A conference speech by VeChain Singapore County Manager Sarah Nabaa outlining use cases and established partnerships.
The first of these is almost completely speculative. The second and third are highly misleading. The fourth is the only one that seems grounded in reality.”
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The author goes into detail on each of the partnerships, with a level-headed and unbiased approach. The conclusion he makes are also objective and not lopsided to pro or against VeChain narrative.
However, he has some word of caution for the VET holders and by extent, for all crypto fans:
“Experience has taught VeChain’s supporters to continually be reading between the lines for signs of unannounced partnerships. But beyond the hype and speculation, VeChain is clearly a project with powerful supporters. Whether this will translate into rewards for holders is a matter of debate. As with Ripple, VeChain’s detractors have pointed out that ordinary token holders may not necessarily reap the expected benefits from the underlying company’s success. “
What Are VeChain’s Goals for 2019?
VeChain Foundation is the cornerstone of the project, with almost immaculate track record of their dealings in the past so they, justifiably, enjoy a big respect in the community. They released their official plan for the 2019 which is summed up nicely by the colleagues at blokt.com
As the blokt.com writes, the Foundation wrote that its mission in the New Year is to “grow the transactions with business value and build infrastructure services around the VeChainThor blockchain to facilitate mass adoption.”
It said that VeChain has been working to bring both small and large enterprises to public blockchains.
The project also believes that it has a deep understanding of what is needed to enable mass adoption of blockchains.
This year, they will help enterprises and individual developers leverage blockchain components.
The first step towards doing so will be focusing on enterprise applications and dApps for real-world business activities.
The Foundation intends to provide SDKs, developer documentation, tools and smart contract templates along with turnkey package templates.
These could be directed towards tokenized asset issuance, digital asset management wallets, and data storage.
It will also work towards expanding its partner network and help them become experts in VeChain technology.