“The best way to deal with the bear market is to build, build and build through till the end of it. And after that, build more!”

Biography:

Sunny Lu is a renowned crypto and blockchain entrepreneur who co-founded and serves as CEO of the VeChain Foundation, the core developer behind the VeChain blockchain network — which is tailored for supply chain tracking and management. Lu also co-founded BitSE, the China-based firm that initially managed VeChain before it became a separate entity.

Born and raised in China, Lu graduated from Shanghai Jiao Tong University in 2002 with a degree in electronics and communication engineering. He got his first job in the tech industry in 2002 when he joined the IT company Netstar China, where he worked as a manager in charge of its Global Network Center segment.

The position provided Lu with valuable insight into the concept of data tracking, which he later applied when creating the VeChain protocol. At the time, the company was known for pioneering vehicle tracking technology in South Africa in 1994. He left the firm in 2005.

Lu then joined 3M China in February 2006 as an IT infrastructure manager, staying for three years before taking up the position of IT manager at Bacardi China. He worked at the spirits manufacturing company for about a year and then got a job at Louis Vuitton China as a chief information officer and organization and projects manager. He learned about blockchain technology while attending a Louis Vuitton tech seminar in 2013 and co-founded BitSE soon after. BitSE was initially involved in Bitcoin mining before it transitioned to blockchain development.

Lu’s 2022:

2022 was an eventful year for Lu and his company. In June, VeChain entered into a marketing partnership with the Ultimate Fighting Championship, or the UFC — one of the world’s largest mixed martial arts promotion companies. The multiyear contract allowed VeChain to become the company’s official blockchain partner and will see the VeChain brand integrated across public UFC assets, including events.

Lu lauded the development as a historical moment enabling the convergence of the blockchain and combat sports worlds. He noted that the alliance would help raise awareness about blockchain technology. In November, Lu oversaw the implementation of VeChain’s much-awaited VIP-220 upgrade, which, according to VeChain, will help increase network latency and scalability.

Lu’s 2023:

Sunny Lu and his team at VeChain have already outlined a tech development roadmap for 2023. In the January reveal, the company said it planned to build a wallet browser extension, an Ethereum token bridge, a carbon footprint explorer, and features around decentralized exchanges and decentralized finance in the first half of the year.

The communique further stated that Lu and his team would be working on numerous additional projects, including blockchain oracles, Web3 solutions and an asset lending protocol in the second half of the year. Just as he did in 2022, Lu will likely pursue partnerships with other major blockchain and non-blockchain companies in 2023 to help the VeChain Foundation fulfill its objectives.