MustangChain is a project set to disrupt the $300 Billion equine industry by use of the VeChainThor blockchain and IoT technology.
MustangChain aims to create a globally adopted standard to validate and manage equine identity, medical records, breeding history and physical conditions. This will bring much-needed transparency and trust to the fraud-prone equine industry.
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MustangChain – Solutions for the equine industry
The goal of MustangChain is to create an online platform where stakeholders in the equine industry can unite to share data, share expertise, as well as buy or sell horses with easy to validate historical data about those horses.
Some of the main features of the platform will be:
- A digital equine passport: utilizing NFC, blockchain as well as iris scan technology.
- Equine research: Utilizing available data about heritage and horse performance to make informed breeding decisions.
- Insurance policies: Horse owners get to choose the best insurance policy for their horse based on the available data from the equine passport.
The team has stated that they currently already have 10+ partnerships under NDA with organizations and companies in the equine industry.
The MustangChain team
The MustangChain team is led by CEO Danny van de Griend. Danny is a well-known expert in the blockchain community. He is a prominent board member of the European Blockchain Foundation and founder of China Blockchain Partners. China Blockchain Partners has helped blockchain companies like NEO, VeChain and Safe Haven with their marketing & communications, legal research as well as giving advice on business expansions and the technical setups of ICOs.
The Chief Operating Officer (COO) is Onur Yildirim, who holds a Ph.D. in Neurobiology and has gained valuable experience working at Johnson&Johnson and Novartis as a healthcare consulting professional (MSL).
Pascal de Kloe is the Chief Technical Officer (CTO). Next to having previously developed groundbreaking storage and security products at the European Patent Office, he is a core developer at Ethereum Classic.
The MustangChain advisors
The team has support from various experts from the blockchain and equine industry, as well as politicians from both Belgium as well as the Netherlands.
Sunny Lu, CEO of VeChain, together with CREAM, Rorie Devine and Pieter Verstraete will give advice on all matters related to the technology of the MustangChain platform.
Giving advice on the equine industry are Takako Yoshikawa, an expert in the Japanese and Chinese Equine Industry, Stefan Schrickx, a well known and established horse breeder as well as Frank van Leeuwen, who is a veterinarian.
The MustangChain and VeChain partnership
Since the start of MustangChain in early 2017, the team has looked at various blockchain platforms and decided to choose VeChain because of its technological advantages as well as IoT integration.
The MustangChain team further explained:
This was also thanks to Danny’s working experience with the VeChain CEO Sunny Lu and his team. Danny helped to facilitate a signing for multiple enterprise deals (unannounced) and government meetings in Europe. Through this work, Danny was given the opportunity to learn the strengths of the VeChain Team and deeply analyze their products.
MustangChain has been working with the VeChain ICO Incubation Team for over half a year and feels it is now ready to publicly launch the project using an Initial Coin Offering (ICO).
MustangChain ICO details
The initial coin offering, in which a part of the 100 billion total tokens will be sold, will take place in three various rounds. The foundation aims to raise 20 million USD paid for in VET.
In the first round, private investors selected by the MustangChain Foundation will have a chance to buy tokens. In the second round, VeChain X-Node holders will have their opportunity to take part in the ICO. At last, the public round will follow, in which (if the hard cap is not yet reached) everyone else will have a chance to buy MUST.
Warning: since this project is very popular I expect it to reach its hard cap fast, don’t miss this one!
More ICO details like the VET to MUST ratio will be described in the whitepaper which will be released somewhere in the upcoming weeks.