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Ron G Jun/ 8/ 2020 | 0

If you want to see the full video, please see it below or you can go to my channel Tech tips to go

In today’s blog, we’re gonna go over the ask me anything that happened on Crypto.com. I don’t know if you’re able to read in between the lines but there were two very important things that Sunny mentioned.

There were some people that we’re pretty disappointed in the AMA. It was kind of mixed neutral. I thought it was pretty somewhat informative. There were two key spots that Sunny did mention.

They have some good news that they’ve been working with DNV GL.

Question 1: How will the current and upcoming economic crisis impact Vechain Strategy and activities?
– They talked that with the COVID 19. It’s been challenging but with that time they were able to focus on two things which are software enhancement, Vechain toolchain. They also say here taking time to improve internal management to get ready for the next school big lives.

Question 2: What are the three possible real-world problems arising from COVID-19 pandemic that Vechain can solve?
– It talks about the pandemic. There’s more need for digitization. So, transparency, verification, health, and food safety are digitally online. Because more and more people want to get into traceability and trust. That’s a huge thing for Vechain because that’s what they specialize especially with blockchain open public blockchain solutions not private.

Question 3: Do you see a long-term increase in demand for product traceability because of a pandemic like a coronavirus disease (Covid-19)?
That kind almost similar to question 2 because it talks about 3m and making sure you get verified ISO standard kind of mask and n95 mask. I talk about that.

Question #4: How do you at Vechain company still manage to do these huge developments despite the ongoing PANDEMIC?
He didn’t really mention the customer’s name but he did say that more than four thousand sustainability products were traced using my story so if you’re not familiar with my story. My story is the product of DNV GL and Vechain is working or DNV GL has an investment stake in Vechain so they are working together with my story.

Any implementations on the public blockchain on Vechain always work together in collaboration with other partners like PWC, DNV GL, and Deloitte. I always leave out Deloitte for some reason. Maybe because I don’t see a lot of news. I do forget that Deloitte is also working with Vechain. Deloitte and Vechain are in the top 5 consulting firms.

What they said is 4 thousand products were traced by my story and they were able to continue that product successfully and in the Reddit forums people are kind of speculating. That’s huge because if they are able to get 4 thousand products. If you think of a fashion line. This is in the fashion industry. It’s a fast-fashion brand. If you are thinking of a fast-fashion brand to get 4,000 products. Usually the small-time companies like smaller retailers. They might not have 4,000 products or 4,000 brands. Even Louis Vuitton has 4,000 product lines or 4,000 SKU’s. I don’t think so. My wife shops at Louis Vuitton and I’ve been in those stores and I don’t see 4,000 products SKU in a retail store. But, if you think that they’re 2 products or 2 brands that people are thinking about. It’s 2 brands that people are speculating and talking about on the Reddit forums and Twitter. Either way, I think it’s actually good news because once they do come up with the news and Sunny did say that there are some NDA’s because even though it was built on the public blockchain, Vechain and Thor. Vechain ecosystem it’s not like they could probably come out with the news.

I think the news was probably coming out from DNV GL just so you know the Vechain is not taking all the spotlight. This is the product made by DNV GL. So, they’re all working together and if you look at those two brands that we’re looking at. I personally think it’s either Reebonz or H&M. Either way, it’s huge because when it comes to this market, trust and traceability. In the counterfeit market, I think they were saying the retail industry loses billions and billions of dollars. Just make sure it’s trust, verified, and authentic. Reebonz, they sell every designer bag. Like; Givenchy, Fendi, Prada, and if you know Sunny’s background. He was the CEO of Louie Vuitton. He got all these strong ties in that sector. Whether this company or H&M that’s big news because soon, it’s gonna provide a little pump probably and more companies are gonna want to get into that blockchain. Like I mentioned patience is a virtue.

Question #5: How does Vechain attract more businesses to join their ecosystem when companies like IBM, Coca Cola, or Mercedes rather build their own blockchain than using blockchain as a service provider?
What I mentioned before. They’re building the Vechain toolkit, toolchain, process to make it easier for customers to onboard easy and faster. Then also because they have the strong partnerships with Deloitte PWC and DNV GL. Like I mentioned in my other videos they have the software built. One just starts doing these huge partnerships with these consulting firms and let them deploy it because they have huge presents in all verticals and all markets. Whether it’s a retail food, trust, logistics, supply chain, automotive. These companies are in there. That’s why I’m such a huge believer in this project because of DNV GL.

DNV GL, they created ISO 9001. People trust companies who are certified in ISO 9000, 9001 and when people think and businesses think “Well, we need to get some kind of ISO certification where did they go?” The creators. ISO 9,001 is worldwide. So, who are they gonna work with? Who’s gonna be pushing our product? Who’s gonna be growing in the future? DNV GL, My Story, and Vechain.

PWC, Top 3 consulting firms in the world. PWC Deloitte or maybe the top 5. Think of how many Vertical markets that their in accounting, logistics, supply chain, automotive. You name it. They’re in. Same with Deloitte. PWC and Deloitte do the exact same thing.

Question #6: Will you grow your collaboration and solutions for different general stores after the accomplishment with Walmart China and is it conceivable that you will copy this model to different businesses and organizations too?
Sunny says the traceability platform project for PWC and Walmart so, that was a joint collaboration PWC was the head they were using the Vechain toolchain ecosystem for Walmart China and it says a significant milestone in the past year. They’ve been able to work closely altogether on further implementations which, to be honest, was kind of delayed due to COVID-19 even when you got to your grocery store. I think Walmart’s trying to figure out how to best adapt to Covid-19 in this pandemic. Whether it focuses more on deliveries online. I don’t think anyone’s main concern is how do we adopt bleeding-edge new technology. They’re thinking more of how do we best serve the community in every local state or every country that’s probably their top priority. When people talking about VTHO burn and why is it low. Right now, we’re in a pandemic, we still have these partnerships. It’s not the partnerships one away that’s why you keep saying patience is a virtue just wait and that burner will come.

I’ve mentioned this before, they have Walmart which started with 30 starting with 100 products. You think Walmart is going to go to another blockchain company. Well, we did this in one store and it was great. We want to use another public blockchain company. Like I mentioned in my other videos. Walmart is spending about $400 million into growing and expanding more stores in China for Walmart. It’s huge news. That’s why when I see that hating comments and people are saying that Vechain is a crap. Quote me it blows my mind.

Nevertheless, innovation is not an easy thing in the traditional business world. We need to respect and understand our partner’s and clients’ plans and intentions of the progress disclosure. Like I mentioned before these are all partnerships that they have with those consulting firms so they got a respect PWC Deloitte, they can’t start blaring out news and going on social media and saying. We completed this because the first line is PWC they get that customer and they’re working with people and with reaching on these projects. It’s not like Vechain can start blaring out and saying we completed this. Let that PWC Deloitte or DNV GL my story do these tweets and that social news etc.

Going further it’s a very good reference and a proven case that can definitely help to replicate to others. There are two things for this its Walmart. In order to become a distributor supplier to Walmart. You got to follow their rules and in one of my eCommerce companies Walmart.

Walmart contacted me on how can we get your products into Walmart and we decline Walmart because it might have hurt our business because we weren’t ready for production. Our production line wasn’t that fast so we were an e-commerce print company that was doing like fine art stuff so that was one of my businesses and it was they were mandating too much. I don’t think our production line was able to fulfill all their products on time. With my current business which is technology.

For example, I’m not gonna name the company. It’s a large lightning company. Their network went down and it was like a home depot Walmart. There were too low picket pickups at their dock levels and they got fine $37,000 between those two companies because if the dock driver is late or you can’t fulfill the truck. It’s a loading truck loading dock you’ve got 20 pilots on pickup at 2 pm. If that driver is there and waiting you get charged off fees. Let’s see the missing pallets. You get clawback. In my customer’s accounting, they say “well, look at this stock, this is charge max” That’s part of the reason why we didn’t want to fulfill for Walmart in our e-commerce shop because our production line wasn’t ready but I’ve talked to other counterparts and Walmart is a big chunk of their business and whatever Walmart says they do so when I talk about this, it’s so many people that want to get into Walmart because they know they could help push all of their products. Just think of Walmart suppliers everyone to be a supplier Walmart so they have all of this potential to build on the public blockchain because I’m pretty sure in the near future Walmart’s gonna be saying “well, in order to maintain and be a supplier in 2021, 2022” You need to deploy public blockchain solution. That’s why I see things going because it could be speculative. It’s a lot of speculation.

Question #7: How does VET play a part or have developments that help in China’s “The Belt and Road” initiative?
I talked about this before. The VRA is the one belt road initiative. Sunny mentioned that Vechain has lots of opportunities because they actually have the most business partners and they have the real use case scenarios on traceability supply chain management food safety and sustainability. So, they meet all of those requirements, and they actually the co-founders. They started the belt and rolled the initiative blockchain alliance.

If they are building the standards and the Alliance who do you think is gonna be involved in the BRI Vechain.

Question #8: What’s about Vechain and Defi?
Defi store needs a lot of kinks security. Defi isn’t ready. There’s still a lot of security concerns and people are getting hacked. I think Defi way down the road.

Sunny mentions here the positions of Defi cautious writing concrete regulated. He has to admit the fact that the world still needs more business activities on the blockchain first which is true. Finance is existing to support the business.

Live Q3: Vechain is currently going well and is receiving positive attention. What will you do to get more exposure and adoption? What is the Vechain message for the community today?
I believe with more and more cases, Vechain will have more exposure. I believe the most strong messages and voices should come from the builders and users themselves. He really reiterates that the reaching position is in a blur and they’re calling for more builders and developers in the community to create value.

Live Q8: Are you still confident in your Nov19 forecast of a 5X to 10X increase in transactions on the Vechain Thor Mainnet this year?
Sunny did say that we’re going to reach 10x the increase of transactions on the Vechain Thor and he mentions are you still confident in your November 19th forecast for a 5x 10x increase in transactions on the maintenance and Sunny mentions. Basically, COVID 19 is getting in the way but we’ve been trying everything to guarantee that.

From the past, we have seen good results and year over year growth. You can’t complain. In the second semester of 2018, 500,000 transactions. The whole year of 2019 five million-plus forty-five million in clauses now that a huge from 500,000. 2018 to 2019 five million. So that’s huge gains what are we gonna expect for 2020, 2021 but he did mention COVID 19 is kind of putting back with every other company.

I think a lot of questions, you know people are something on the forums they wanted to talk about the vaccine project that China is all kind of mandating the vaccine traceability solution because that is going to be huge across China and Sunny mentions the last question all answers about the vaccine project because so many people ask. I’ve read conflicting things, I don’t think there is an agreed-upon source. He mentions it was initialized by DNV GL and Vechain to build up a solution on Vechain, Thor, Blockchain to improve transparency and visibility about Vaccine manager.

He says it is such a big ambitious project given the fact that health care and pharmaceutical are the most restricted areas especially talking and bringing up innovative solutions built on cutting-edge technologies like IoT and blockchain. With Medical and Hospital in the whole healthcare. There’s a lot of NDA’s and Sunny mentions here it says but the good thing is finally we made some breakthroughs to apply that to a project coming soon.

There more news that is coming so we’re sitting at point zero four still really good from what we are. What we were in February think February we were almost at point zero nine but here it says meanwhile. I need to fully respect the NDA from our business partners. He wasn’t really asked cuz above he was just talking about they asked about the SARS epidemic whatever. He says, he could have just left this out and said Thank you for the meaning but he goes I will answer this last question about the vaccine project. He could have just not talked about it but in this last paragraph he just blatantly comes out and says I need to fully respect the NDA from her business partners. I could say it’s something about clinical trial meds and I truly hope it can be released soon. He means as well just said I’m coming out with the news vaccine traceability DNV GL has been working on it news coming out soon but NDA is there.

A little late but wanted to post the Vechain Sunny Lu AMA held on April 23rd, 2020 with crypto.com

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