What is VET
VeChain is the world’s leading blockchain platform offering Blockchain-as-a-Service to enterprises for products and information. By leveraging blockchain technology, VeChain strives to build a trustless and distributed business ecosystem that is self-circulating and scalable. The VeChain token used in VeChain platform is called VET. All participants using the VeChain platform must use VET to pay for products and services. The VeChain foundation is a nonprofit entity established in Singapore in July 2017. The foundation will act as VeChain sponsor entity, committed to VeChain’s development, construction and governance, transparency, advocacy and promotion work, and promote the safe and harmonious development of open source communities.