Top 4 Vechain Dapps With the Most Potential
DApps are the future of cryptocurrency, and VeChain is no stranger to its share of applications on its blockchain. The following projects, ranked in terms of potential, are our top 4 choices for dApps on the VeChain platform.
Blockchain technology and voting seem to be two peas of the same pod. With added transparency, ease-of-use, and immutable records, there appears to be a bright future ahead for blockchain-based voting systems and dApps. In the case of VeChain, its up-and-coming VeVot project is well worth paying attention to. It is a voting system tailored to businesses, which can unlock a lot of use cases in the long run.
This particular project, which has been in development for some time now, offers a lot more legitimacy to smart contract technology. VeChain will offer this type of technology, similar to how other projects such as Ethereum and NEO provide access to smart contracts as well. Despite this budding competition between smart contract platforms, there is a dire need for proper auditing and certification.
It would appear VeChain will have a leg up over its competitors in this regard. Through the VeSCC project, certification of smart contracts on the VeChain blockchain will become the new standard. That in itself is a useful function, as it shows there is a need for such service and a demand by users to bring more legitimacy to smart contracts.
#2 My Story
Through a partnership with DNV GL, VeChain has successfully created its first third-party initiate dApp. Known as My Story, it is a digital assurance solution which can accommodate the food and beverage industry. It seems this dApp is already in use by the Italian Wine Sector to ensure their bottles will be compatible with this new technology. The technology provides key insights pertaining to quality, authenticity, origin, and so forth.
Although the name would suggest this upcoming dApp has something to do with videos, it is tackling an entirely different business model. Vevid will bring a KYC and digital ID solution to the VeChain blockchain. This will help validate all members of the native system, as well as users of any dApp which runs on top of the VeChain blockchain now or in the future.
Depending on which applications and solutions are built on top of VeChain moving forward, having a KYC and digital ID solution may not be an unnecessary luxury either. Governments all over the world scrutinize blockchain solutions over the lack of KYC implementations, and VeVid may address most of these concerns once the dApp comes to market.
What is your favorite VeChain dApp? Let us know in the comment section below.