The reason this veto was developed was because of the crucial disagreements regarding each country. During this time and age, a veto causes such a negative impact on international alliance and collaborations that using could potentially threaten the peace developed for so long. Its sole reason was to prevent another World war, but now and days its unecessary.
Powerful nations such as the United States, Russia and China can vote against a proposal and it gets nixed right away. The Security Council's veto power is a powerful tool, but often doesn't reflect the majority of nations' opinions regarding international issues. The veto power should be redone so a larger nation doesn't screw over the smaller ones in a political move.