- Signing at the Norway-China Business Summit 2018 attended by several high-profile personalities.
- Partnership aimed to achieve environmental sustainability goals set by the UN.
- Plair and Safe Haven allegiance.
The blockchain technology based supply chain management firm VeChain (VET) has witnessed considerable developments within the past few days. The Singapore-based non-profit entity took to Medium on October 16, 2018, to shed light on the high profile signing ceremony of the “DNV GL – VeChain Digital Low Carbon Ecosystem” in Beijing.
High Profile Dignitaries Witnessed the Signing
Signing of the “DNV GL-VeChain Digital Low Carbon Ecosystem” at the Norway-China Business Summit 2018 was attended by their Majesties King Harald V and Queen Sonja of Norway.
The signing of the document has officially commenced a partnership between the Norwegian assurance giant DNV GL and important partners of the 13th Chinese Five-Year Plan – including BYD, PICC, VeChain, Tsinghua University’s Sino US Relations Research Center, and Shanghai Xiandao Food (a subsidiary of Bright Foods)
The newly formed partnership will propel DNV GL’s efforts to work with the UN to achieve the laid down environmentally-focused Sustainable Development Goals.
Idea behind the Digital Low-Carbon Ecosystem
As the event was attended by several influential personnel, it’s important to point out the gist of the newly christened ecosystem.
The partnership aims to leverage the VeChainThor Blockchain and IoT devices to keep a track of every single carbon emission reduction behavior of enterprises and individuals alike. This will be achieved with the help of smart contracts, which will compute the carbon reduction equivalent and subsequently issue carbon credits. The Medium post reads in part:
“The solution distributes carbon credits to enterprises and individuals involved in emission reductions. Carbon credits are transferred through individual users in the ecology of inter-enterprise consumption activities to achieve the ecological diversion between different enterprises. The credits can then promote and enhance the sales of enterprise products or services.”
It’s worth pointing out that the underlying technology powering this ecosystem has already been deployed and is being tested by the ecosystem partners – with BYD’s electric vehicles scheduled to go on sales in 2019.
Plair-Safe Haven Alliance Welcomed by the VeChain Community
In what comes as another impetus for the VeChain ecosystem, Plair (PLA), a DLT based gaming ecosystem joined forces with the VeChain powered B2B2C platform Safe Haven on October 16, 2018.
Working in unison is speculated to be a win-win situation for all the parties involved, i.e. Plair, Safe Haven and the VeChain ecosystem.
The announcement also mentioned that Plair’s public sale is set to be held on ThorBlock platform. The dates for the scheduled public sale are expected to be announced soon.
At press time, VET sits comfortably at the 19th position according to CoinMarketCap, trading at $0.011.