VeChain Thor – Partnership with BMW

In yesterday’s re-branding event VeChain announced a new brand image, the Nordic god Thor, as well as new partnerships for the new brand VeChain Thor.

VeChain to VeChain Thor and the Bitcoin revolution

The event was exclusively for invited guests of the Bitcoin revolution. But there was also a live stream on YouTube. In the 38 minute video, mainly the rebranding, the success last year, as well as the new partnerships were presented. Here you can see the recording of yesterday’s livestream from VeChain again:

VEN – The coin behind the project
VeChain recorded a 500 percent increase in 2017. At present, the price for a VEN is €4.58. The enormous price increase can be seen in the chart. Of course VeChain, like any other coin, benefited from the cryptohype of the fourth quarter of 2017.

What does the VeChain Thor project promise?

The success of the VeChain project is also due to the different „usecases“, which differ significantly from most crypto currencies. Instead of trying to make the transaction anonymous, VEN (in the future VET) is known as a kind of „transparency coin“. This means that complete transparency is created with a trustworthy business model. The aim here is to ensure a transparent flow of information, efficient cooperation and rapid transaction exchange.

Partnerships with BMW and Oxford University
In addition to the partnership with BMW, VeChain Thor also announced its cooperation with Oxford University. Both will support the project in developing the VeChain Thor platform. VEN could be used to track products throughout the supply chain. However, this technology is not only interesting for companies with expensive articles. Using a microchip, the blockchain could track the complete development of a product. Now that VeChain has become VeChain Thor, the name of the coin is changing. VEN becomes VET. There will also be a „two coin system“ in the future. THOR will become a separate coin from the staking of VET. This means you get THOR as a reward for VET tokens in your wallet. In this calculator you can enter your recently named VET (former VEN) and get the calculated output of THOR tokens.