Sunny Lu, VeChain CEO, Shares News and Updates About the Project


VeChain's Latest Updates from CEO Sunny Lu Live Chat Replay

VeChain CEO, Sunny Lu, talked with the community in a live video on YouTube on August 20. During the streaming, he talked about the future of the company and different updates and projects.

Mr. Lu started the video saying thanks to the community for the support given since the beginning. He indeed said that they are ‘the best’ crypto-related community in the whole space.

One of the things the community achieved was to speed up the process for the observe wallet function to be supported by Ledger, a recognized hardware wallet manufacturer. Additionally, he mentioned that he considers the community as part of the team behind VeChain, this is why he wants to have a close dialogue ahead with them.

Another important thing to mention was related to the dApp released on WeChat. During August, the company launched a decentralized application on WeChat that coincided with China's Valentine’s Day. It was possible for users to send a love note as a transaction using VeChain’s blockchain.

One of the key elements here was related to the Multi-Party Payment Protocol (MPP). The company sees the MPP as a key element to support mass adoption. Companies are able to provide VeChain-powered services to clients without having to pay for them.

At the moment, VeChain mainnet has an important amount of users, and the intention is to improve even further the experience of the users. Mr. Lu mentioned the success of the Multi-Task Transactions protocol (MTT). The MTT allows users to send different small transactions included in just one larger transaction.

Moreover, he said that 90% of the VEN ERC-20 tokens were transacted for the native VET tokens, something that is not often for the cryptocurrency environment.

In the future, the wallet will also be supporting token sales. Users will be able to easily participate in upcoming VeChain blockchain projects.

In the last months, an important number of businesses moved from their private blockchains to the one powered by VeChain. With all these projects moving into VeChain, token sale dates for project such as OceanEx, Plair and Safe Haven, would be announced very soon.

It is important to mention that VeChain partnered with car manufacturers like Renault or BMW. In the near future, they will be partnering with another important car company. However, the name of the firm was not announced.

For those interested, on September 7, 2018, VeChain and PwC will be hosting a conference in Shanghai that may have 15,000 attendees. Other Meetups have been proposed for Paris and Amsterdam, but the details will be unveiled in the future.

VeChain will also join an important international Import Expo in November 2018. He mentioned that they were selected for 2 large partnerships. Details about that will be published in September.

During the video, users were able to ask him different things about the project. He answered three different questions about a spike on transactions, a possible swap between VeThor and VET using the mobile wallet, and about how to build on top of the VeChain blockchain.

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