VeChain (VET) is a blockchain-powered supply chain platform. It was launched in 2015 and officially launched in June 2016, with the goal of creating an ecosystem that can address the major issues in supply chain management using decentralized governance and IoT technology. The platform uses two native tokens, VET and VTHO, to manage and create value on its VeChainThor blockchain.
VeChain was created by Sunny Lu, who co-founded it with others. Lu previously served as the Chief Information Officer for Louis Vuitton in China. He has since become a well-known figure in the cryptocurrency world. He focuses particularly on the ability of blockchain technology to solve transparency issues, emphasizing that it can create a "trustless" architecture, ensuring that the collapse of any part of the supply chain will not affect the rest.
Another co-founder, Jay Zhang, is responsible for VeChain's global corporate structure, governance, and financial management. VeChain was launched in June 2016 and is one of the most historically established proprietary blockchain supply chain platforms in the market.
Reference: CoinMarketCap