A Crypto Taking Over the World

A crypto taking over the world ......................................................................... 3

A pattern for a winning investment ................................................................... 5

VeChain is growing fast .................................................................................... 7

The new economic model is twin tokens ............................................................ 8

Governance that is centralised decentralisation ................................................. 9

The new VeChainThor Proof of Authority (PoA) ................................................. 10

What VeChainThor will be used for is staggering in scope .................................. 10

I’m ready to be a customer ............................................................................ 11

VeChain is truly a global opportunity ............................................................... 12

Crypto Capital - July 2018 2


Lately, I’ve been travelling by air a lot.
Thankfully, I don’t worry much about things
going wrong at 35,000 feet.
A recent 16-hour flight across the Pacific
Ocean did involve some turbulence. And it
made me consider just how many hours of
turbulence it would take before a small but
important screw or joint would give up… and
cause a serious problem.
Every day, some 2.5 million passengers fly in
and out of U.S. airports, according to the
Federal Aviation Administration (FAA), the
U.S. agency tasked with ensuring airline
The Boeing 747 For Lufthansa Air
Source: Lufthansa Magazine
Of course, sometimes things go wrong with
these parts. It’s rare. But it happens.
An FAA study of airline incidents between
1973 and 1996 established that unauthorized
or counterfeit airline parts failure or
malfunction contributed to nearly 175 aircraft
accidents and incidents, resulting in 17
fatalities.
Beyond U.S. borders, we’ve seen larger scale
tragedies, like the 1989 crash of Norwegian
carrier Partnair Flight 394 that killed 55
Crypto Capital - July 2018
safety. Aviation enthusiast website
airliners.net estimates that there are roughly
39,000 planes in the world.
And short of spacecraft, modern airplanes are
the most technologically advanced
transportation available.
The Boeing 747, for example, is made up of
over 6 million parts, 171 miles of wiring and
over five miles of tubing. Tens of thousands of
planes, each having millions of parts... that's
over a hundred billion airplane parts. And
those parts all have complex jobs to do for
the plane to stay in flight at over 6 miles
above the ground.
passengers and crew… the result of
counterfeit aircraft parts that wore down, and
caused the tail of the airplane to break off
mid-flight.
And in the late 1980s and early 1990s, enough
planes had enough things go wrong that the
U.S. Congress held hearings on, amongst other
issues, the problem of fake or unauthorized
parts.
Among the questions were, who built the
faulty parts? Were they properly installed?
3
Who signed off on maintenance? Did the parts
fail prematurely or was something else at
fault?
Over the next 20 years, airplane
manufacturers undertook a massive effort to
track every part from every supplier on every
plane they built. As a result, airlines made big
strides towards properly tracking their parts
supply chains, and airline safety has improved
dramatically.
Airliner Accident Fatalities Per Year (1946-2017)
Source: Aviation Safety Network
But there are still problems. Last year, a U.S.
government audit of the FAA concluded that
the agency had repeatedly failed to notify
federal law enforcement regarding suspect
parts installed on U.S. airplanes. The FAA had
even closed investigations without confirming
whether counterfeit parts had actually been
replaced.
And in 2016, an investigative report by media
company NBC revealed that according to
National Transportation Safety Board reports,
“unapproved parts” had been involved in
nearly two dozen crashes in the U.S. since
2010, with seven fatalities.
Crypto Capital - July 2018
2017 was the safest year on record, according
to Dutch aviation consulting firm To70. The
Aviation Safety Network reported that there
were ZERO commercial passenger jet
fatalities last year, and just a handful of
fatalities globally on all worldwide
commercial civil aircraft (on all planes with a
minimum capacity of 14 passengers or more).
As airline makers have outsourced
maintenance and manufacturing overseas to
countries like China, El Salvador and Mexico
(see this report from Vanity Fair if you think
U.S. planes are serviced on U.S. soil!), quality
has been compromised.
For example, it was discovered in 2016 that
the Chinese suppliers to a U.S. flight control
systems company were selling poorly made
parts, with fake paperwork. And the
manufacturing itself had been outsourced to
another (unapproved) company.
What’s needed is a secure and trustworthy
system for supply chain management – that is,
4
a way for airlines to track parts from
manufacturing to delivery.
That’s where this month’s recommendation
comes in.
It’s solving the problem of counterfeiting and
fakes… along with food safety and logistics
vulnerabilities. These are problems that cost
companies and consumers hundreds of billions
of dollars every year, along with countless
fatalities and injuries.
It’s created a blockchain solution to track
items from the manufacturer to the customer
– eliminating fraud, reducing waste and
improving the processes that products go
through from beginning to end.
And it already has a lot of partners – including
winemakers, luxury goods manufacturers, the
largest tobacco company in the world, the
Chinese government, a “Big Four” accounting
firm, venture capitalists and prestigious
business advisors.
So let’s get started…
A pattern for a winning investment
The best technologies and cryptos tend to
follow a similar pattern on their way to
becoming a great investment.
First, a need or a problem that concerns
customers and companies is identified.
In this case, counterfeiting and fakes, food
safety and logistics vulnerabilities…
(It’s worth pointing out that “fakes” are
nothing new. Two thousand years before the
Birth of Christ, Babylonian and Egyptian
priests would use inscriptions from earlier
civilizations on monuments to increase their
legitimacy. And coins were counterfeited as
early as ancient Roman times.)
Crypto Capital - July 2018
Second, a company develops a technology or a
solution that addresses that need, or
fixes/alleviates the problem.
And then, to be really successful, the next
step is getting customers and partners on
board to start using your technology.
VeChain (VEN) has already followed this
process.
From as early as 2007, the founders of what
would become VeChain were developing
technologies to help companies improve their
supply chains and logistics while eliminating
counterfeiting and fraud.
In mid-2015 the first iteration of VeChain
arrived, but we didn’t see a token until 2017,
when the VEN token was launched.
VeChain isn’t just plain blockchain
technology. The platform has been built to
incorporate smart chips, radio frequency
identification (RFID) and near-field
communicators (a technology that allows a
small receiver to quickly scan information
from an item with a chip embedded) and QR
code technology.
We need these physical items with unique
digital fingerprints to make it possible for
companies (and buyers) to track items
through their supply chain and ensure the
authenticity and quality of inputs and goods.
To build up its customer base, VeChain has
established offices in Shanghai, Singapore,
Paris and Tokyo. That has helped it create a
long list of well-known customers (including
Renault, logistics giant Kuehne & Nagel, and
PricewaterhouseCoopers).
One of its most notable efforts is a national
level partnership with the government of
China.
5
The Administrative Examination and Approval
Bureau of Gui’an New Area, in the south-
central part of China has already started using
the E-Government System powered by
VeChain’s blockchain technology to store
China’s Gui'an New Area
Source: Investment Promotion Bureau of Gui’an New Area
In May 2017, PriceWaterhouseCoopers (PwC),
a global top four accounting and business
advisory firm, incorporated VeChain into its
PwC China and PwC Singapore incubator
program to help VeChain accelerate its
deployment in Hong Kong and South East Asia,
as well as offer strategic advice.
VeChain has also partnered with the China
State Tobacco Monopoly Administration and
the China National Tobacco Corporation
(CNTC) to help prevent fake cigarettes and
Crypto Capital - July 2018
business registration related documents, such
as business certificates, bank account
certificates, tax registrations, organisation
codes, foreign trade registrations and audit
reports.
tobacco products, which plague China, from
being sold.
CNTC is the world’s largest manufacturer of
tobacco in terms of revenue, with a near-
monopoly on cigarette sales in China, which
accounts for approximately 40 percent of
global tobacco sales.
Swiss-based company Kuehne & Nagel Group,
the largest global sea freight and second
largest air cargo company in the world, asked
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VeChain to “smartify” its shipping parcels,
enabling customers to track their parcels in a
transparent way.
And DNV GL, a global quality assurance and
risk management company, announced the
implementation of VeChain’s first
Decentralised Application (DApp), My Story.
My Story allows consumers to see the full
history of products simply by scanning a QR
code using their smartphones.
VeChain has also partnered with Michigan
State University, automaker BMW and Groupe
Renault.
And VeChain has a famous advisor on its team
– venture capitalist Jim Breyer. Breyer is
famous for investing US$12.7 million in
Facebook when it only had ten employees.
And in 2016, Breyer and IDG Capital
committed US$1 billion of venture capital
funds to the blockchain industry of China.
But we’re not buying VEN because it fits the
pattern of identifying a need, developing a
technology and successfully bringing on
customers and partners.
We’re buying VEN because all of that is about
to happen again. VEN has identified a bigger
problem, developed a bigger solution and will
add even more partnerships and customers.
It’s also rebranding. VeChain is becoming
VeChainThor. And the VeChain token VEN will
be converted to a two-token system
comprised of VeChain Token VET and VeThor
Token VTHO. (More on this below.)
While this is going on, VeChain is migrating
away from the Ethereum Network and onto its
own VeChainThor mainnet.
Crypto Capital - July 2018
VeChain is growing fast
So what’s inspired VeChain to rebrand?
VeChain learned that its business customers
identified four major reasons why enterprise
and large consumer-focused applications are
not yet on blockchain.
First, most public blockchains lack a proper
governance model, which we discussed here.
As the use cases for blockchain continue to
evolve, changes to the features and functions
of a blockchain are inevitable. A proper
governance system, with transparency and
operational efficiency, will enable rapid
innovation.
The other key critical aspect here is that
enterprise customers want good governance.
Taking a step back for a moment, look at the
bitcoin scaling debate. It lasted years, split
the community in two, and generated
tremendous uncertainty for bitcoin.
Bitcoin’s governance is essentially “dry” code.
By that I mean all the cryptoeconomics and
incentives are built into the protocol directly.
It’s highly decentralised, but at the same time
it means that for all the debate, mud-slinging
and arguments, the pace of change is
extremely slow.
“Wet” code, on the other hand, allows for
governance to take place off-chain, in the
real world. It can also be messy, but it can
also adapt and move a lot faster. It allows a
blockchain to evolve with the times and
technology. (Ask yourself a simple question –
is bitcoin evolving? Not really. And many
purists will argue that’s exactly how it’s
supposed to be!)
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Second, the economic model of almost every
existing public blockchain creates a conflict
between users, who want low and stable
transaction costs and speculators, who want
the value of the token to increase.
As a business, you don’t want to be paying X
dollars to use a blockchain one day, and Y
dollars the next. You wants some consistency.
(This is what the dual token system can help
address).
Third, participants care about solutions
beyond just blockchain and including
technologies such as the Internet of Things
(IoT), Big Data and artificial intelligence
(A.I.). But currently there are very few
experts with the ability to connect businesses
to the blockchain and these other necessary
services.
Finally, the capacity to comply with
regulation and changes will be one of the key
requirements for any utilised blockchain
solutions. This is necessary as governments
increase regulations to keep up with the
massive adoption of blockchain by the general
public and business owners.
The key here is transparency. And VeChain’s
consensus mechanism, as we’ll discuss, is in
line with this idea of regulatory compliance.
To address all the above, VeChain has created
the VeChainThor Blockchain. It represents the
next generation of public blockchains.
The bigger problem can be summed up as
getting more companies to use the
blockchain. This is a problem because there
are companies who should be using the
blockchain but they aren’t experts on it.
The bigger solution is the VeChainThor
ecosystem, which includes new token
economics, new governance, new Proof of
Authority and some very exciting use cases.
Crypto Capital - July 2018
Let me break down each of those…
The new economic model is twin tokens
VeChainThor will have two separate tokens,
VET and VTHO, which will serve different
purposes.
VET is the token that the current VEN tokens
will be converted into.
It holds and transfers value and represents the
right to use VeChain. As the network grows
and more customers use VeChain, the value of
VET will grow and the price of each token will
appreciate. We are buying VEN to participate
in this conversion.
VTHO represents the cost of various functions
on the blockchain, similarly to how GAS works
with NEO (which we described here). VTHO
tokens, once used to execute a transaction or
a smart contract, will be consumed (burned)
by the VeChain system.
We are not buying VTHO.
The twin token system will prevent
transaction fees from being directly exposed
to the volatility of the price of VeChain
tokens, making the VeChainThor Blockchain
more suitable for conducting
business/financial activities for both
individual and enterprise users.
VeChain has applied for patents on the Multi
Party Payment Protocol, which allows the
smart contract to determine which party pays
the fees for a transaction. Anyone who has
ever felt the frustration of not having enough
GAS or ETH or other tokens to interact with
the blockchain should immediately recognise
the simple elegance of allowing another party
to cover the fees in a transaction.
8
Governance that is centralised
decentralisation
The new governance model of VeChainThor is
unique and complex. The VeChainThor
Platform is governed by a unique structure
controlled by The VeChain Foundation, a
nonprofit entity.
The governing body of the VeChain
Foundation is a Steering Committee. The
Steering Committee lays out the critical
strategies and selects functional committee
chairs to oversee the operational units of the
foundation. Stakeholders with VET Voting
Authority select the Steering Committee.
Each of the stakeholders hold voting rights
calculated by the voting authority model.
Some of the stakeholders also have specific
roles, such as Smart Contract Owners and
Authority Masternode holders. The
stakeholders can be individuals, corporations,
government agencies, non-profit entities and
other institutions with a valid legal status.
The stakeholder voting mechanism ensures
the inclusiveness of all designated
stakeholders in the VeChainThor Blockchain
ecosystem.

VeChain Foundation Governance Structure

Stakeholder with
voting Authority

Board of Steering
Committee
Advisory Board

Compensation
Technical Operational Public Relations Regulation
and Nomination
Committee Committee Committee Committee
Committee

Legal and
R & D Unit Finance Unit Marketing Unit
Compliance Unit

Technical Human Resource Public Relations

Support Unit Unit Unit

Administration Business
Unit Collaboration
Unit

The foundation describes their
decentralisation governance as a new breed
that achieves decentralisation through
centralised channels.
VeChainThor has been designed to adapt as
regulations change and has already
established a series of security and privacy
policies aligned with Europe’s General Data
Protection Regulation (GDPR), the most
stringent standards for Personally Identifying
Information (PII) and ISO27001, international
information security standards, as well as
China Cybersecurity Law.

Crypto Capital - July 2018 9

For a crypto to be successful, strong
governance and legitimate decentralisation
must form a healthy balance. VeChain,
VeChainThor and the VeChain Foundation are
working to find that balance and believe
they’ve created a model that exists between
totalitarian and anarchic.
The new VeChainThor Proof of Authority
(PoA)
In the world of blockchain, nothing is more
critical than the process of creating and
verifying blocks. Blocks of transactions and
the authorization of those blocks literally
build the blockchain. VeChainThor has set an
expectation that a new block will be
generated every ten seconds.
To validate blocks, VeChainThor has created
the Proof of Authority (PoA) system. This is
different from Proof of Work (i.e. Bitcoin),
Proof of Stake (i.e. Lisk) and Delegated Proof
of Stake (i.e. EOS).
VeChain’s PoA includes 101 known validators
called Authority Masternodes who are
authorized by the VeChain Foundation and the
VeChain community.
These validators are not anonymous block
producers. They all go through a strict Know
Your Customer (KYC) procedure and satisfy
minimum requirements set by the VeChain
Foundation.
This PoA system falls in line with the VeChain
goal of finding the balance between
centralisation and decentralisation while
allowing for fast block creation, which means
fast transactions on the blockchain.
This kind of transparency is also what
enterprises building on blockchain want to
see. Would you rather your company build on
a blockchain underpinned by anonymous
miners? Or would you prefer to see
transparent and KYC’d block producers?
Crypto Capital - July 2018
What VeChainThor will be used for is
staggering in scope
VeChain is ambitious in terms of the breadth
of enterprise sectors and applications that it’s
targeting:
MEDICAL & HEALTHCARE
VeChain’s blockchain solution can track the
medical devices production process. It can
also can help patients securely share their
data with their doctors to enable real-time
monitoring. It makes the production and use
of medical devices safer, better regulated,
efficient and reliable.
LUXURY & FASHION
With its smart chips embedded in luxury
goods, brands can monitor the sales channels
in real time to prevent illegal overstock
trading. And consumers can verify the
authenticity of their products.
LIQUOR
VeChain can track and authenticate wine at
every step of the production process. All of
this information is stored on the blockchain.
This allows for enhanced value and trust and
helps diminish illegal activity.
And consumers can simply scan a QR code or
smart chip to get authentic and valuable
information about the production, storage and
logistics process.
AGRICULTURE
Using VeChain’s solution, sensors and mobile
devices, feedback about climate and soil
conditions can be updated into the cloud for
real-time monitoring. Data collection can help
agriculture companies make better decisions
about planting methods, and help improve the
quantity and quality of crops. It can also
10
minimise the negative impact of fertilizer and
pesticides to the environment.
LOGISTICS
VeChain allows various parties – including
customers – in the logistics cycle to access
information on a transparent and secure
platform.
COLD-CHAIN LOGISTICS
VeChain’s cold-chain logistics solution uses
IoT devices to track key metrics throughout
the entire journey, which helps cold-chain
logistics be transparent, regulated, secure
and reliable.
AUTOMOTIVE
VeChain can record data like repair history,
insurance, registration and driver behaviors
throughout a car’s lifecycle.
I’m ready to be a customer
I’d really like to have the VeChainThor
solution for an old Mercedes-Benz I’m
rebuilding – which right now is at the shop so
the mechanic can fix some leaky seals on the
brakes and power steering.
The repairs are pretty routine for most
mechanics. But on this car, the job became
almost impossible. The car’s previous owner
repaired both the brakes and the power
steering. But that the brakes were the wrong
parts and the power steering pump was a
fake.
When I found that out I wanted a way to track
everything that had happened with the car.
Where did the parts come from? I don’t
believe for a moment that the car came out
of the factory with those parts.
Someone at some point used parts both wrong
and fake for the most critical functions of a
car: steering and stopping.
Crypto Capital - July 2018
And it makes me wonder what else I should be
worried about going wrong with this car.
The solution I need comes straight from the
VeChainThor roadmap. For example, after a
car is sold to the consumer, the accumulation
of data about the car is fragmented.
Throughout the life of the car there are
different service providers (like mechanics),
spare parts suppliers to those mechanics, an
incident history and insurance companies. As
a buyer of the second-hand (or even a brand
new) car, having trusted historical data could
substantially increase the value of the car if
there is a way for all these fragments to be
organized.
All that data can potentially be owned and
monetized by the car owner, instead of
inefficiently in a range of different data silos
(mechanics, financial institutions if there’s
lending in place, distributors etc..).
If you can verifiably demonstrate a full,
verified track record of
servicing/incidents/parts replacements, then
you will be able to both get better insurance
pricing and a higher resale value.
And guess what, it’s already happening.
VeChain is being used by French car giant
Renault along with Microsoft France to create
a “car passport”, a secure trusted and digital
car maintenance book.
As Bernard Ourghanlian, the CTO of Microsoft
France puts it:
“As a continuation of our partnership in the
realm of connected vehicles, we are pleased
to be able to support Renault with its digital
transformation and to work together to create
an innovative Blockchain solution that has the
potential to consolidate an entire vehicle
ecosystem and ensure that the information
shared by all can be trusted.”
11
Incidentally, VeChain has also partnered with
BMW on another solution being built on the
VeChainThor platform.
Like I mentioned earlier, quality companies
engaging with your product tends to create a
virtuous cycle. Companies don’t like being the
“first”… it helps if your competitors are
engaged with a provider too!
VeChain is truly a global opportunity
VeChain has built an enterprise ecosystem – a
platform – that every business can use to
track every item of value, whether it’s for
airplane parts, food items, pharmaceuticals,
tobacco products, shipping containers, luxury
items or alcoholic beverages.
The team (which we summarize below)
envisions a world where all things, people,
businesses and other real-world entities are
inter-connected on a distributed, transparent
and trust-free virtual network. And the
transfer of value from one entity to another
within this ecosystem will be completely
frictionless.
We’ll closely watch the progress of the
migration from VEN to VET. And we’ll let you
know when we to buy the second half
position.
SUMMARY: VeChain/VeChainThor has deep
relationships with China, major global blue-
chip companies, and venture capitalists
through their successful IoT products and
services with a team in place to successfully
relaunch the company into an even bigger
market.
At the current market cap valuation of under
US$2 billion, we think VeChain could see 5x-
10x appreciation within 18-24 months and 20x
in five years.
Now, let’s apply our UPDRAFT token
assessment criteria to VeChain…

And VeChain has already amassed the best

customer base in all of crypto who are already
using the technology.

Right now, the VeChain rebranding is taking

place and the transition from Ethereum to the
VeChainThor native mainnet is happening.

However, the new token and the rebranding

has caused confusion amongst investors who
aren’t sure what they should be buying.

And the current crypto bear market has

exerted heavy selling pressure on VEN, down
nearly 60 percent since mid-May.

We are taking advantage of this confusion and

the bear market to establish a HALF position
in VEN today, while all the dust settles.

Crypto Capital - July 2018 12

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USE & USERS

Factors: use case; usability; users; community

VeChain/VeChainThor have a number of uses that range from

mature, established products and services (by blockchain
standards) to brand new.
For manufactured goods, VeChain offers logistics, supply chain
management and anti-counterfeiting assurance. For end-user
customers, VeChain offers enhanced information about goods
they buy including the history of the item through its life cycle.
For other companies and blockchain organisations, VeChainThor
offers financial and ICO services.
Pharmaceuticals are a great example of a use for VeChain.
Customers can track every detail of the life of their medication –
U including what temperature it was stored at and what method of
shipping was used. Medications employing VeChain technology
20 20

can’t be counterfeited or suffer from spoilage they can’t? they

still can, but at least the buyer would know. VEN doesn’t prevent
spoilage.
VEN/VET has already assembled a roster of partners and clients
that make it the strongest player in the industry.
You can find a full list of its partners here.
There is also an active community and developers supporting
VEN/VET, as evidenced by social media and github activity.
VEN/VET has a perfect combination of existing uses, users and
potential.

PROBLEMS SOLVED

Solving a problem with blockchain. Problems the crypto faces are

being solved

Does it solve a problem using the blockchain? Absolutely. VET

P uses blockchain to solve the problem of supply chain and anti- 10 10
counterfeiting without sacrificing security in ways a database

Crypto Capital - July 2018 13

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can't. VeChainThor created a new mainnet to eliminate

bottlenecks and token instability of the Ethereum Network.
There are other mainnets which offer companies the financial
services VeChain does.
However, only a blockchain solution is permanent, immutable
and can’t be faked, forged, altered or hacked. If you are looking
for integrity of data, you must use blockchain. Only VeChain
combines all of these services for their customers with a
blockchain solution.
VeChain has also applied for a patent for Multi Party Payment
Protocol, which allows a smart contract to control who pays the
fees in a transaction.

DECENTRALISATION

Factors: governance; open source; no central authority; pre-mine

(i.e. how many tokens were created and distributed prior to
launch); fixed supply / inflationary

VeChain believes that a well governed foundation is the key to

longevity, growth and stability. VET employs a unique
"centralised but decentralised" governance that has not been
proven yet.
VeChain Foundation is a non-profit organisation founded in July
2017 to create an actionable governance system that matches the
D identity VeChain envisions for its product. The foundation is used
7 10
to maintain governance and "as much guidance as board will
allow us".
This has never been done before, so we will be keeping a close
eye on how it works. To score a perfect 10 on this I want to see
the governance be successful over time.

ROUND TRIP

Ability to buy, hold, use and sell. Factors: exchanges; volume;

liquidity; secure wallet; geographic restrictions

R VEN is trading on dozens of exchanges. Binance and Bitfinex have

already committed to supporting VET but the date has yet to be
5 10

Crypto Capital - July 2018 14

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announced. The most popular VEN exchanges are Bitfinex, Kucoin

and Binance.
Mobile wallets are already available in the Apple and Android app
stores. There is a desktop wallet available for Mac and Windows
users at Github here.
At this time there is not a solution that we are comfortable with
to sell your VET. We only recommend buying VEN today with your
crypto funds that can be held for an indeterminant period of
time. We will be tracking this closely. While we are
recommending buying VEN today because of the confusion of the
token migration and we are confident the future will provide
greater options for wallets and liquidity, we are rating this a 5
until selling tokens is safe and easy.

APPLICATION

Does the application work or are there barriers that will prevent
it from working and being adopted?

The technology for tracking items and retrieving information is

working successfully. The mainnet launch appears to be going
A smoothly. VeChain has created a valuable product and services
15 15
that customers are using in the real world already.

FUTURE

Is there a clear roadmap of future developments as well as a

reason to be optimistic for gains?

VET has a well-defined understanding of what future customers

will need and could work with every company worldwide, as well
as consumers.
VeChain is currently developing version 3 of its blockchain
ecosystem and it’s ready to integrate the third generation of its
F smart chip technology.
15 15

VeChainThor enterprise solutions will also attract numerous

companies to be "Blockchain as a Service" (BaaS) partners who
will then migrate their ICOs and supply chain needs to the
VeChainThor ecosystem.

Crypto Capital - July 2018 15

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Accountancy and consulting firm PwC has worked alongside

VeChain to establish regulatory practice and auditing services.
Kuehne & Nagel (revenue US$21 billion), the world’s largest
freight company, has recently signed a service contract to use
VeChain for asset management.

TEAM

Is there a team of developers with a track record of successfully

launching projects, preferably blockchain?

Without question the leadership and advisors of VET are world

class and provide exploitable expertise.
CEO Sunny Lu was previously the co-founder of BitSE, a Chinese
software company that has produced other well-known cryptos
like QTUM. Sunny was also the Chief Technology Officer and Chief
Information Officer of Louis Vuitton, China. Sunny also served as
an IT executive in Fortune 500 companies for over 13 years.
Other members of the management team have similar
backgrounds and previously held top posts in Fortune 500
T companies. 20 20
CFO: Jay Zhang has worked for PwC and Deloitte as a senior
manager for over 14 years.
COO: Kevin Feng has over 12 years’ experience in consulting and
assurance services in cybersecurity, privacy and emerging
technology at PwC. Additionally, Kevin has been driving the
development of blockchain services of the PwC China / Hong
Kong region.
CTO: Jianliang Gu has worked at TCL communication technology
as Technical Director.

TOTAL UPDRAFT SCORE OUT OF 100 POSSIBLE POINTS 92

Crypto Capital - July 2018 16

 IMPORTANT NOTE: VEN and VET are not the
same. We are buying VEN on the exchanges
listed below. VEN will convert into VET. There
will be a difference of 100:1 when your VEN
convert to VET over the next 10-60 days.
These conversions will be automatic as each
exchange completes the process to support
the new tokens in the next few weeks.

Be careful. We are buying now specifically

because the round trip can be confusing. This
provides us an additional opportunity to profit
as VEN converts to VET and begins to
appreciate. We expect it to clear up
significantly in the next few months.

We are recommending buying VEN, which is

the ERC20 token, and holding it in your ERC20
wallet, such as MEW, which we cover in our
wallets guide. We will initiate a full position
at a later time.

In the future we will move our tokens to the

VeChainThor mobile wallet available the iOS
and Android stores.

Buy a half a position of

Action VeChain (VEN) up to
$US3.00
BitFinex, Kucoin, Binance,
Bithumb, Huobi.pro,
Exchange
LBank, DragonEx, YEX,
Coinspot

Mobile Wallet on iOS and

Wallet
Android, MEW

Crypto Capital - July 2018 17

Crypto Capital - July 2018 18
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