VeChain is converting VEN tokens to VET and preparing for a jerk

VeChain, which is engaged in creating a blockchain for tracking goods and supply chains around the world, starts converting VEN tokens to VET. Convertation will occur on the crypto-exchangers using special swaps, and from July 24 will be available in the new purse VeChainThor. Migration of tokens will end on August 1, the process of full-fledged start-up (ripening) of its own blockchain VeChainThor, which began on June 30, will take several months.

The VeChainThor platform assigns to any product or item a unique identifier that is simultaneously stored on the blockchain and applied to the object using NFC, RFID tags or QR code. This allows instantly identify the product, completely solves the problem of counterfeiting and the organization of deliveries. The intention to use VeChainThor was announced by BMW, Renault, Coca-Cola, IBM, HSBC, Alibaba, Oracle, Tencent, Cisco, PricewaterhouseCoopers.

After the launch of the blockchain at full capacity, the capitalization of VeChainThor, which as of July 4, 2013 amounts to $ 1.506 billion, could significantly change. The development of the project is in accordance with its Roadmap