A subsidiary of H&M, COS, is working with VeChain reportedly. During this COVID-19 threatened world, it seems to be a right decision for VeChain. The dealing appears to the progress of VeChain with an H&M brand for the first time. But it is uncertain whether this may be result in wide-scale implementation.
As VeChain community is very result-oriented and is more and more demanding of visible on-chain transactions as the only metric they are interested in. But the major fact here is the real revenue earned from real-world customers. Because the higher the revenue is, the higher the opportunities, developers, R&D, grants are.
The community has been fed a steady stream of announcements and articles about proposed ecosystems and revolutionary business models since prior to the mainnet even came online. Many of the businesses and partnerships are driven by innovation teams but the lacking is the organic customer demand. There are some basics which VeChain needs to be successful are:
Alt-Tokens are not protector
Investors are thinking like they should stop looking to small cap alt-token projects to add below as a huge number of the VIP180 tokens are below ICO below. According to investors, being a decentralized version of Kickstarter is not one of the feasible use cases of the blockchain.
Overuse of the world ‘’Ecosystem’’
Creation of valuable transactions has been the core motto of VeChain. The fight of VeChain should be focused between blockchain projects and businesses. VeChain avoids creating sophisticated commercial relationships between multiple parties.
Never admit to ‘’Scope Creep’’
Blockchain industry is very peccant of falling into the scope creep-trap. Every versed project manager sets a target and view it through even having so many distractions. Businesses are willing to pay hard proof for blockchain solutions.
Supply chain optimization and product authentication are the VeChain’s original use cases where should be the original focus. It should be made easy for ordinary companies or individuals to start plugging their products into blockchain.
ToolChain & MyStory as two solutions
A toolchain is a set of programming tools that is used to perform a complex software task or to create a software product. It is a simple package of IoT and blockchain, sold directly to businesses without the need for additional software development. It is a possible solution and many companies benefiting from this.
MyStory solution by DNV GL, works as a third-party verifier, gives brands a unique opportunity to share with consumers the authentic product story displaying verified facts stored on a blockcahin platform. It appears with a price tag showing what price the product really worth. COS appreciated MyStory’s service seeing the results of the previous use cases. MyStory project is of high priority to corporate giant because of its progress of revenue-earning. ToolChain and MyStory that set VeChain apart from every other public blockchain protocol in the business.