VeChain was founded in 2015 by Sunny Lu, the former chief information officer (CIO) of Louis Vuitton China.
It started as a subsidiary of Bitse, one of China's largest blockchain companies, and is among the few blockchains that already have a substantial customer base among established companies.
VeChain is privately held company developing a blockchain platform with the attention on verification of the availability chain of products like luxury goods. The VeChain team is headquartered in Shanghai and was founded by Sunny Lu in 2015 with offices in Singapore and Paris.
The VeChain cryptocurrency token currently traded on cryptocurrency exchanges is an ERC20 token on the Ethereum blockchain denoted with the ticker symbol VEN.
It aims to attach blockchain technology to the important world by providing infrastructure also as IOT integration.
VeChain currently focuses its solution to varied industries like Liquors, Luxury Goods, Auto, Retail, Agriculture and Logistics. it's established partnerships with Pricewaterhouse Coopers, DNV GL, Renault Group, KUEHNE+NAGEL, D.I.G., China Unicom.