Exclusive Interview: VeChain CEO Sunny Lu on Blockchain, Market Growth, and Sustainability

As a seasoned crypto investor and follower of Sunny Lu’s journey, I can’t help but be inspired by his remarkable story. Having started mining Bitcoin back in 2011-12, he has been a part of this dynamic ecosystem for over a decade now. His transition from being the CIO at Louis Vuitton China to founding VeChain speaks volumes about his vision and foresight.

Sunny Lu holds the dual roles of co-founder and chief executive officer at VeChain, a company dedicated to providing blockchain-based solutions for managing supply chains. Prior to this position, he worked as the Chief Information Officer at Louis Vuitton China, where his experiences sparked an enthusiasm for blockchain technology.

During a private conversation, VeChain’s CEO, Sunny Lu, offered insights into his experience within the blockchain sector, the company’s commitment to environmental responsibility, and predicted industry movements.

Tell us more about yourself; how did you get into this world, and how did you start?

Sunny Lu has spent more than a decade delving into the realm of cryptocurrencies. He kicked off this journey by engaging in Bitcoin mining around 2011 and 2012, laying the groundwork for his involvement with blockchain technology. In the year 2015, he utilized the earnings from his mining operations to establish VeChain, with a primary focus on attracting enterprise users and developing practical applications for the blockchain.

Can you tell us about your previous company and its focus on tracking?

Prior to VeChain, Lu was employed at Louis Vuitton, overseeing a worldwide project known as Track and Trace. The goal of this project was to boost product tracking from the initial raw materials stage through to retail sales, with the aim of maintaining transparency within the supply chain. Recognizing that blockchain integration could greatly improve this process, Lu eventually developed VeChain.

What insights can you share about VeChain with our audience?

Lu clarified that VeChain intends to build practical applications that connect blockchain technology with everyday people. The firm is dedicated to promoting widespread acceptance by constructing tools that boost efficiency and transparency within various sectors.

How do you make blockchain and sustainability more user-friendly, especially for beginners?

Lu underscored that VeChain’s primary goal is to streamline the user interface. The firm has initiated projects like VeBetter, which encourages eco-friendly behaviors by offering blockchain-backed incentives. This platform can be conveniently accessed by users through social logins, thereby avoiding the hassle of intricate wallet configurations.

What are the main challenges VeChain is facing in late 2024 and 2025?

As Lu states, VeChain’s main priority lies in expanding its user base. Institutional investors find the concept of useful applications for non-cryptocurrency users intriguing, but demonstrating the validity of this idea through increased user numbers can be difficult, according to him.

What about your participation in all these events?

As a researcher with a keen interest in blockchain technology, I am thrilled about the prospect of attending Blockchain Life 2024 in Dubai. These industry events are indispensable for fostering connections and exchanging groundbreaking ideas within the rapidly evolving crypto sphere. Over time, these meetings have grown from a handful of significant conferences to a multitude of global events, highlighting their transformative impact on this dynamic field.

What insights or advice would you like to leave with attendees of Blockchain Life 2024?

Sunny Lu suggested that attendees exercise patience, as he anticipates the market is transitioning into an upward trend, or bullish phase. He urged the audience to concentrate on creating user-centric applications, as the future market trend appears to revolve around easy-to-use and valuable apps that foster widespread acceptance.

2024-11-01 14:38