I would like to announce that Project VEE (https://vee.tech/) is under development and that I have assumed a full time position as chief architect for the project. VEE aims to bring about a next generation platform for blockchain applications. The VEE team is currently promoting the project in Asia and will visit Europe in February.
Meanwhile, my care for the Peercoin and Primecoin projects hasn’t stopped. They are the best work of my career. The current Peercoin team has been doing great work during the past year while I was mostly unavailable. It is my hope that Project VEE can also bring more resources to share with the Peercoin team and community, eventually working into a healthy collaboration between the teams and communities of both projects.
So I wish fans of the Peercoin project will take it in a positive way. I still believe in my old messages buried in this forum, despite the blockchain’s controversies, the technology can and will bring positive changes to the world, and we all strive to work hard toward such a future. I sincerely thank you for all your support. For those of you who reminded me of some of my own words, such spark of encouragement has never been lost in my heart.
This is an official statement from the Peercoin Team regarding Sunny King’s Vee project. First of all, the team has directly communicated with Sunny about his new project, so we would like to confirm here that this is a real project and it is officially from Sunny King and Scott Nadal.
The Peercoin Team is currently not associated with project Vee. None of our team members are working on it except for Sunny and our team cannot judge the project as we currently have no knowledge of how it works from a technical standpoint. That said, the Peercoin team is open to a potential partnership once we’ve had the opportunity to evaluate it.
An important point that the community will want to know is that this development, while unexpected for many, will NOT negatively effect the current development speed of Peercoin or its roadmap and timelines. For over a year now Peercoin has largely operated as a team environment without assistance from Sunny. His long absence over the past year did not hurt us. Due to Peerchemist’s leadership and hard work from everyone on the team, we were able to deliver Peercoin v0.6 and successfully upgrade the network.
The Peercoin team will continue on its current path forward set out in our roadmap. Sunny is still welcome to contribute to Peercoin and we hope Vee and Peercoin developers may have an opportunity to work together in the future. For now we will wait for Vee’s release along with the rest of the public and we wish Sunny success in his new endeavor.
I want to start by making it clear that I truly wish Sunny the best in his future endeavors. However, up until seeing this post I was almost certain VEE was a scam for 3 main reasons:
VEE is has already been coined by BLOCKv a company that has been working for the past two years on creating tech to digitize physical assets/voucher etc and make them tradable between consumers with the vAtomic app on the blockchain.
The whitepaper on the site links no where
Using the term 5th Generation Blockchain looks like one up man-ship from BLOCKv’s claim to be Blockchain 3.0
The post above serves as my only current proof so far that this is a legitimate project. Even if it is, Sunny and you should know that the BLOCKv community could perceive this as a replica coin, going as far to call itself after the trading name VEE that is already used by BLOCKv.
If Sunny and the team are not aware of this, that is cool - I would advise you use this information to improve your project and remove such room for misinterpretation. However, if its intentional, then obviously this is a red flag for potential people supporting this tech going forward.
Its a shame that Sunny has sold his name to what looks like a terrible ICO. I think it’s better for Peercoin for Sunny remain as a somewhat mythical figure. This turn of events has hurt Sunny’s reputation. This turn of events is bad for Peercoin, I’m afraid.
am also a fan of Sunny and peercoin. i see where your concern came from. yeah, could be confusing. Ive done a bit investigation and find below.
In BLOCKv white paper, VEE was introduced as V (ticker: VEE) only. Couldn’t even find what it stands for other than it serves as a ticker that’s all. If I understand it right, BLOCKv VEE was made on ERC20, hence it was made a token, not a coin.
While on Sunny’s new project website https:/vee.tech/, quoting Sunny
"A brief review of the history of human civilization has always pinned private property as one of its foundational pillars. The impact blockchain technology would bring to the world could be even greater than those of the Industrial Revolution. With these visions, we have termed this new economic era the Virtual Economy Era. "
VEE stands for Virtual Economy Era, it sounds a much more bigger n powerful definition, as it carries Sunny’s vision. that’s why i don’t think it’s great idea to link the two with hushing terms like scam, simply due to a mere coincidence, it’s rather unfair to jump the gun isn’t it.
I find it hard to believe that someone who wants to usher in the “Virtual Economy Era” would not do their research first to see if the ticker had already been taken - But that doesn’t mean it isn’t possible. I don’t think that VEE stands for any thing in BLOCKv’s case. I suspect they wanted V but they needed 3 letters so out came VEE. Tickers don’t need to stand for anything. However if you want your project to be legitimately considered, I would strongly advise against giving it the same name as an existing ticker (unless it was your intention to confused people).
I am not saying Sunny is guilty of anything, I am posting here because I’m trying to get to the bottom of the truth of this matter. I am only presenting the facts as I see them, if Sunny comes out and says this is not intentional I will take him at his word. As I said I wish him the best. I would advise that if he now knows this and didn’t before that he strongly considers how the coin is perceived to others going forward and uses this info to make appropriate changes.
BLOCKv is by no means a small project, it’s market cap is already above Peercoin and it has only been trade-able for few months and it is not even on a major exchange yet. It also promises to usher in the Virtual Economy Era, by allowing vAtoms to be tethered to real world objects and redeemed/traded all across the world. This project is also more than a whitepaper, it has been worked on for over 2 years already and as a fully functioning app. The similarities is name and ambition for me are impossible to ignore. I would very much appreciate if Sunny himself comes forward to clear this up.
So SK is “unavailable” to work on peercoin but all of a sudden is able to accept a full time position at some ico that looks like a scam. This looks like SK simply does not care about peercoin anymore, not surprising after what happened to primecoin.
Well SK has not been developing peercoin since V0.5 anyway so i guess it does not matter…
Does Project VEE intend to use a different consensus algorithm or does Project VEE intend to use Peercoin as its underlying “backbone” fulfilling the original vision?
Thank you, though I did not ask if the Peercoin Team is associated with Project VEE so I do not understand either of your responses.
My question was for the Project VEE team regarding potential utilization of the Peercoin technology. The Project VEE website is ambiguous regarding the “multiple consensus algorithms” and block chain development.
As the announcement was made by the Project VEE chief architect, I feel this is a honest and valid question.
