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VeChain Toolchain Brings Inspiration for Enterprise-Level Blockchain Application at the World Blockchain Summit in Singapore

The World Blockchain Summit (hereafter refers to as WBS), supported by the SFA (Singapore Fintech Association), Token Economy Association and Singapore Cryptocurrency and Blockchain Industry Association was successfully held in Singapore. This year’s WBS brought together government officials of Singapore and over 300 business leaders from the blockchain and the IT industry, globally.

Kevin Feng, COO of VeChain was invited to attend the WBS to share with the guests on how VeChainThor Blockchain-based solutions empowered and created greater value for the real economy. Anson Zeall, Chairman of the Singapore Cryptocurrency and Blockchain Industry Association; Chia Hock Lai, Chairman of SFA; Nathan Kaiser, Chairperson of Cardano Foundation; Alex Mashinsky, founder and CEO of Celsius Network; Tim Draper, founder of DFJ Venture Capital, and a few other industry leaders were in attendance.

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Blockchain has become a heated topic among enterprises. Industry leaders from various industries, such as retailing, finance, and automobile, have been investing heavily in blockchain technology to stay ahead of their competitors and the market, worried that otherwise they stand to lose competitive advantage. According to PwC’s 2018 Global Blockchain Survey, which included 600 executives from 15 territories, among them, 84% say their organizations have at least some involvement with blockchain technology. According to Deloitte’s 2018 Global Blockchain Survey, which included 1053 executives from 7 territories, 95% stated their company plans to invest in blockchain tech this year.

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“To reduce the technical threshold for enterprises to adopt blockchain technology, VeChain officially launched VeChain ToolChain, the revolutionary one-stop BaaS platform developed upon the VeChainThor public blockchain, was launched in April 2019. The solution comes with a variety of general-purpose interfaces, with which anyone, even those without any tech background, can build their own blockchain-based solutions to suit their needs,” Kevin Feng, COO of VeChain, said during his speech in WBS.

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As the world’s leading public blockchain platform, VeChain has been devoted to developing valuable dApps and blockchain-based solutions. Together with its partners from multiple industries, VeChain has successfully integrated VeChainThor Blockchain-based solutions into the businesses of Walmart China, ENN Energy, BMW, Bright Food, and more. In these use cases, the VeChainThor Blockchain has been proved capable of ensuring data security and enhancing supply-chain management, thereby adding real value to their business.

WBS provided VeChain with a great opportunity to further its presence on the global stage and have its value perceived by the enterprises interested in blockchain technology. Moving forward, VeChain will stay dedicated to being an enabler, empowering the real economy and facilitating digital transformation.

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