The best cryptocurrency you can invest in
After China banned initial coin offerings (ICOs) and their trading, many people lost interest in the blockchain and cryptocurrency sector in China.
I was in Shanghai a week after the new regulations were announced, and to my surprise, many of my conversations with cryptocurrency experts focused on technological goals, rather than the concerns about daily price fluctuations I heard at home. When we talked about regulation, almost everyone I spoke to agreed with me that regulation would be helpful as cryptocurrencies become more popular.
Just as China is overtaking the United States in mobile payments and investing heavily in artificial intelligence research, Chinese companies are not ignoring the huge potential of blockchain technology.
One of the small token companies I followed closely in 2018 was Vechain.
VeChain is a blockchain-based product management platform that adds unique identifiers to the blockchain. VeChain focuses on transparency through anti-counterfeiting and supply chain management. Counterfeit luxury goods are a significant problem (some sources estimate their value to be over $400 billion!), and if successful, VeChain could offer a radical solution.
VeChain has a strong team and has already formed effective partnerships with organizations like PwC. Eventually, VeChain will implement its technology and help reduce many of the inefficiencies in supply chains. If successful, VeChain could become a leader in product verification and capture a significant share of the growing cross-border e-commerce market.
The Chinese blockchain industry, from small token-using companies to large corporations, is booming and should not be ignored. I made a bold bet on China over a decade ago, and I am still absolutely convinced that Chinese innovation will be renewed at a rapid and competitive pace.
This blog post is provided for informational purposes only, without any warranty, express or implied. The information provided does not constitute, and does not constitute, financial, investment, trading or other advice, whether regarding cryptocurrencies, VeChain or otherwise. Breyer Capital does not represent VeChain, nor does Breyer Capital represent VeChain.
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