Vechain Tech Deep Dive Series VeChain Tech Deep Dive Series Session 3 Episode 1 Hi everyone. I will be with Mr Koo today. The third session of the VeChain Tech Deep Dive series, Let’s look at enterprise-class applications and solutions.
First, let’s take a look at what we discussed last time. It is a non-chain tech stack consisting of three main parts. In the first session, We’ve talked a lot about embedded systems and hardware.
In the second session, our lead scientist, Dr Peter Zow, Introduced the blockchain core This includes smart contracts and application services. Today we will look at enterprise-class applications and solutions.
Before starting this part I admit we had a hard time deciding how and what to discuss. There are several issues we need to consider. First, with a lot of our many solutions, The application is closely related to our customers.
Therefore, we cannot discuss or disclose too much. Second, the last 2-3 years We are constantly collecting new demands from companies. New solutions and applications can be developed accordingly. Some of the technologies and solutions covered today are not yet available, or At least I can’t get the details.
Some are still in development and some are pending patents. So we can’t disclose too much information about this. Still, we will try to give you as much information as possible. Thank you so much for understanding.
So, let’s get started. Yes, thank you, Sunny. First of all, I will briefly explain the non-chain applications and solutions. It can be divided into 4 levels. First, it is the production and supplier management or factory stage.
Second is logistics distribution. Third is warehouses and stores, and finally customers. In fact, demand is sometimes different from plant to plant in each industry. In fact, demand is sometimes different from plant to plant in each industry. Yes.
We are trying to solve the overall problem of that industry there is a need to use blockchain technology The real economy that will solve their problems. Yes. To do that, we need to understand the needs of these companies.
Yes, and there are developers. This is why VeChain is working hard to develop more effective tools and services. To help these companies and developers solve their problems. As Sunny said, During communication with the company and developers We made it clear that VeChain always adheres to the principles.
It will be whether the product is manufactured to meet customer needs. And development takes place to make better products. We always keep this principle in mind. When talking to developers and companies. We analyzed the needs and needs of developers.
Basically, they have 4 kinds of needs. First, the documentation centre. Document Center related issues can be categorized into what, why, and how. For example, what is my product? Why did you design this product? What problems can you solve? How can I solve that problem? Developers want to figure it out quickly.
What we can do for them with our technology and products. This is what you need a document centre. Second, as a fully developed toolkit, it is also important to developers.
For example, as a blockchain developer, You will need tools to develop smart contracts. Backend service apps, websites, etc. But for the time being, the tools are not being integrated. So it takes developers time to find what they need.
We want to provide you with a comprehensive development toolkit. With it, you can use it to develop applications. Another issue is about compatibility. We also hope to be able to provide an integrated solution through our toolkit. To avoid compatibility issues that may arise during development.
This allows developers to focus on application development. As the tool talks, we have to consider a little more important issue. Someone who works to help developers. As I said, in the blockchain community or the larger community, There are mainly three types of users. One is either a regular token holder or an end-user.
Or you are the end-user of the app. The second is the developers. Who do they help? In fact, they are working for companies or enterprises. We’ve been thinking of empowering developers.
Again, creating a healthy and healthy business model for them. So they can always find a job in the ecosystem. We want to create a positive feedback business model. So that cash flows continuously To encourage developers to stay in the business pool. Let’s move on to the next slide. What do businesses and customers want? The needs of enterprise users are somewhat different from those of developers.
What enterprise users need most is security and compliance. An example is data security. In particular, it will be a digital asset. Yes. Digital asset. Because enterprise-level applications are developed to serve enterprises Businesses need to collect customer information. The first problem we have to solve is ensuring compliance with the rules when they do so.
For example, we need to maintain the requirements set out in European GDPR and China’s cybersecurity law. Second, in the case of companies, They also want to get a turnkey solution package that works. This is especially true for small businesses. That’s because development resources and funding are limited.
Even large companies, when entering a new field, Like a blockchain They want to at least invest to see how everything works. Especially, when doing PoC or small test. They want to test in the fastest and easiest way.
So they can see the results as soon as possible You decide whether to proceed or not. Turnkey solutions are very important for both large and small businesses. It allows them to do simple tests.
For large companies Especially those who have decided to apply blockchain technology to their entire industry and their actual economic activities. They will consider two issues. First, can blockchain services are easily integrated? With their existing systems, ERP and SAP systems.
Second, is the new system easy for customers to use? Because the customer is familiar with the existing application The fewer changes, the better. In short, it should be easy for businesses to integrate blockchain services. The existing system makes it easy for customers to use. Besides, in most cases, Businesses and users don’t know they are using blockchain technology. Because the blockchain is on the floor, it is invisible. And there can be misunderstandings among companies.
You might think that blockchain will replace ERP or other existing systems. But it is not. We are developing applications using blockchain technology. It provides complementary and additional functions. Or change an existing business model. That’s right.
When we say that blockchain activates the real economy, Let me tell you about the additional features that the blockchain adds to the real economy. The fourth important point is the List of Approved Providers (AVL). Everyone is a startup, And I know there are many professional teams in the field.
Each team has its strengths. In other words, for companies, You can have a variety of technology or product vendors. Therefore, we need AVL, a list of approved technical service providers. Only in this way can the chain technology be prevented. And other related technologies to serve the company’s existing products.
It should be noted that AVL is a very important component for businesses. Because no company wants to be put in any situation When only one or two vendors can be selected There is no choice but to choose one of the two.
If so, they may not be able to continue their business later. Generally speaking, when looking for a solution, Companies want to have a pool of different teams. Companies and sellers with different strengths Or the expertise in providing them with other services. For example, they may need a provider to provide the underlying technology. Blockchain technology, smart contract development support, etc.
Or provide basic services Front-end development, system integration or consulting, etc. The company will develop a blockchain application or if you want to participate in the blockchain ecosystem They will need a variety of services. However, few companies can provide this service. Here we wrote “A request for participants”.
By showing detailed technical information and having DevCon You can encourage your team as well as your skills. In addition, we have the business capacity to provide services. For famous companies looking to build their apps on our blockchain To create a positive feedback loop. Yes, actually, as I mentioned in the last session We will gradually release our source code.
So that other teams can access our technology And you can develop more services. It requires the joint efforts of the teams and companies in our society. Add more vendors to AVL. Only if there are more vendors in AVL Could a large company offer more options to choose from?
Yes. Join us Those who want to develop enterprise-class applications Our advice is, first of all, think about where you are. If you can build a small team or if you are already a team with a lot of experience, You have to think about each member’s strengths. Some may specialize in smart contract development.
Some formal verification, Some front-end and back-end application integrations or services You have to find your place first.
And try to be an expert in this field. If you need help from Bechain Please come to us and let us know.
Read More: VeChain: Digitizing Documents