Shanghai Gas (Group) Co., Ltd, a wholly-owned subsidiary of Shenergy Group Company Limited with registered capital of RMB 4.2 billion, collaborates further with VeChain to develop a blockchain-enabled energy project. As the overseeing body of the pilot LNG management solution in the Zhoushan LNG Storage and Distribution Centre co-convened by VeChain and ENN Energy Holdings Limited, Shanghai Gas saw the reductions in transaction complexity and cost brought by blockchain technology, and decided to...

With the purpose of fostering transparent communication on our accomplishments on creating tangible economic value by blockchain technology, we hereby present the tenth VeChain Foundation Financial Executive Report, covering the period from Nov 2019 through to Jan 2020.

In this open letter, we would like to inform the Community and stakeholders how the COVID-19 global pandemic has affected the Foundation and its operations.

February 25, 2020, Shanghai,China — Dr. Peter Zhou, the Chief Scientist at VeChain, and Dr. Zhijie Ren, the Senior Researcher on Blockchain at VeChain, recently published a preprint paper titled ‘SURFACE: A Practical Blockchain Consensus Algorithm for Real-World Networks’.

A proper blockchain governance system needs transparency and operational efficiency which enables continual and rapid innovation. In order to achieve the main goal of operating a decentralized public blockchain with the capacity to scale and at the same time complying with regulators, governments and to meet the needs of large enterprises, VeChain aims to improve its governance model with the ability for continuous iterations alongside rapid progression in ecosystem development.