Sunny Lu is the co-founder and CEO of VeChain, focusing on blockchain solutions for supply chain management. He previously served as CIO at Louis Vuitton China, where he developed an interest in blockchain technology.
In an exclusive interview, Sunny Lu, CEO of VeChain, shared insights on his journey in the blockchain industry, the company’s focus on sustainability, and future market trends.
Tell us more about yourself; how did you get into this world, and how did you start?
Sunny Lu has been immersed in the crypto space for over 11 years. His journey began with Bitcoin mining in 2011-12, which provided the foundation for his entry into blockchain technology. In 2015, he used his mining profits to establish VeChain, focusing on enterprise adoption and building real-world applications on the blockchain.
Can you tell us about your previous company and its focus on tracking?
Before VeChain, Lu worked at Louis Vuitton, where he led a global project called Track and Trace. This initiative aimed to improve product tracking from raw materials to retail, ensuring transparency in the supply chain. Lu realized that integrating blockchain could significantly enhance this process, leading to the creation of VeChain.
What insights can you share about VeChain with our audience?
Lu explained that VeChain aims to create valuable applications that bridge the gap between blockchain technology and everyday users. The company is committed to driving mass adoption by developing solutions that enhance efficiency and transparency across industries.
How do you make blockchain and sustainability more user-friendly, especially for beginners?
Lu emphasized VeChain’s mission to simplify the user experience. The company has launched applications like VeBetter, which incentivizes sustainable actions through blockchain-based rewards. Users can easily engage with the platform using social logins, eliminating the need for complex wallet setups.
What are the main challenges VeChain is facing in late 2024 and 2025?
According to Lu, the primary focus for VeChain is user growth. He noted that institutional investors are excited about the narrative of valuable applications for non-crypto users. However, proving the viability of this narrative through user growth remains a challenge.
What about your participation in all these events?
Lu expressed enthusiasm for attending industry events like Blockchain Life 2024 in Dubai. He noted that such gatherings are essential for networking and sharing innovative ideas within the dynamic crypto space, reflecting on how they have evolved from a few major summits to numerous global events.
What insights or advice would you like to leave with attendees of Blockchain Life 2024?
Sunny Lu advised attendees to be patient, as he believes the market is entering a bullish phase. He encouraged participants to focus on application development, as the next market trend will center around user-friendly, valuable applications that drive mass adoption.
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