CNBC’s ‘Advancements’ with Ted Danson will focus on VeChain in Next Episode
CNBC, a major news broadcaster in the US, will shed light on VeChain is an upcoming episode of Advancements, which is hosted by Ted Danson. As part of the coverage, Danson will travel to Shanghai, China.
VeChain is a leading global enterprise-level blockchain platform, which aims to connect the blockchain to the masses. To achieve its goal, the platform offers a comprehensive governance structure, a robust economic model, and sophisticated IoT integration. It will relay on the blockchain to offer various benefits to various industries. The platform addresses a given concern in a given sector by offering a blockchain-powered solution.
Advancements is a TV series, which covers various industries and economies. It aims to highlight transformative technologies in various economies and industries. This particular episode will be aired on September 23 at 3:30 EST.
VEChain Releases Executive Financial Report
Recently VeChain unveiled its financial report. The report was created to bring transparency to the token distribution at VeChain. This report also recapped new collaborations and partnerships made from May to June 2018.
It revealed the company had collaborated with:
- Bright Foods and Shanghai Xiandao Food – May 16
- Lingang International Manufacturing Exhibition Trading Centre – May 27
- Shanghai Wine and Liquor Blockchain Alliance – June 7
- DB Schenker -June 12
- Totient Labs – July 10
VET Supply Overview
The total supply of VET on the VeChain blockchain is 86,712,634,466 according to the report. By the end of July 2018, the ratio of circulating VET is 65%, which is about 4% larger than what was reported in the previous quarterly report.
The VeChain project has been the subject of interest from various parties such as governments, institutions, and enterprises. Others have had an interest in this project for the purpose of partnerships, collaboration, and investment because of the project's achievements thus far.
Since the start of the year, the company has been holding talks with various enterprise investors, which they believe will make an important contribution to the ecosystem. In this report, the project has already created partnerships with various companies that are listed above.
Co-Founders, Development Team
The report has revealed that 517 million VET were sent as rewards to the development team. The percentage grew slightly compared to the last report due to growth in the team’s size. Just like in previous reports, the executive team will lock up 100% of the rewards gained for two years upon distribution.
The Operation, Technological, and Business Development
The budget allocated was used to develop the VeChain mainnet. It was also used for academic research, testing, community building, market promotion, and growing the VeChain ecosystem. There was a lot of security testing in this period. There were even bug bounties conducted on the VeChain Mainnet source code, authority masternodes, smart contracts, and the VeChain wallet app.
VEN to VET Token Swap Status
By September 10, about 93.5% of the ERC20 VEN tokens had been swapped for the VET on the Vechain mainnet. The token swap process is under the inspection of an independent third party. After it is done, the inspection report will be sent to a steering committee to be reviewed.