- The partnership will help address challenges of digitization
- DNV GL’s My Story is slowly and steadily gaining traction
- The partnership will help VeChain compete with tech giants
In an increased effort to improve open blockchain ecosystems, VeChainThor has partnered with DNV GL to address the critical challenges of digitization. By unlocking the full power of digitization, the duo will help to minimize risks and costs while maximizing operational efficiency and revenue.
Enables Consumers to Verify Authenticity
VeChainThor, the Shanghai-based startup reports in April 10, 2019, blog post that they have enjoyed the highest level of professionalism and guidance during the last one year since they partnered with DNV GL. VeChain especially appreciates DNV GL’s blockchain solutions under the stewardship of CEO Luca Crisciotti with My Story featuring prominently in VeChain’s applications.
My Story is a blockchain-based tool that enables consumers to verify the authenticity of data stored in the blockchain.
The reasonably new application has so far in 2019 been used to verify over 1.5 million transactions on the VeChain MainNet. As BR reported this week, VeChain, DNV GL, and Norway in a Box have partnered and using My Story to ensure the freshness of Norwegian foods being exported to China’s stringent food market. The announcements states:
“By joining the various ecosystems, their products will be tracked on the blockchain as they travel across the globe to customers in Asia. Their products can even be purchased using credits earned in the Digital Low Carbon Ecosystem, providing them with valuable marketing exposure and access to an entire customer base that values a low carbon lifestyle.”
Granted Among the First Blockchain Registration Numbers
My Story enables small and medium-sized enterprises to integrate the highest level of blockchain solutions and eliminates the hassles that involve the development of such solutions from scratch. DNV GL offers a third-party status for auditing and verifying data as opposed to the trending closed-off systems such as those provided by IBM, Alibaba and Kaleido.
DNV GL offers VeChainThor and other players in the industry an array of tools that help them go digital successfully. Their offering helps customers identify and predict failure points besides providing them the requisite support on the necessary actions. The firm is developing solutions and steadily building tools in the ever-changing landscape of digitalization.
As BR reported, while China still may be planning a total ban on Bitcoin mining as part of its strong anti-crypto stance; it has embraced the blockchain technology, and its regulations continue to evolve, and VeChainThor and DNV GL are at the center of it all.
Recently, a list of registered blockchain-based businesses was announced by the Chinese National Cyberspace Administration (CAC), and VeChain has been granted among the first blockchain registration numbers in the entire country.
VeChain’s partnership with DNV GL will enhance its chances for competing with tech giants like Alibaba since it makes the playing field appear more level.