Use Google and everything you need to know will pop out. There's no need to ask here when there's a whitepaper for the project (I won't tell you where it is, just uses Google).
THORchain a smart contract supporting solution, combines the Internet of things (IoT) technology with a blockchain in order to digitize the supply chain. Basically, the project aims to solve the problem of counterfeiting goods on the market. Imagine you want to buy a Gucci bag, but you are not sure if it is original or fake. If Gucci is partnering with VeChain, you can simply scan the RFID tag and receive all historical information about the product – year of production, country of origin, type of material, etc.
Source?
