As a global provider of assurance services and one of the world’s leading certification bodies, DNV GL sees the potential that blockchain possesses in boosting transparency and traceability. On the other side, VeChain, one of the early movers that pioneered the technology outside of fin-tech, made a perfect match for them.
On January 24, 2018, the two parties forged a strategic partnership with an initial common goal of combining DNV GL’s know-how in the assurance industry with advanced blockchain technology provided by VeChain. This partnership aims to empower clients with increased control over their products and services and improve overall efficiency across the value chain.
Since then, VeChain and DNV GL embarked on a spectacular journey of promoting mass commercial adoption of blockchain technology not limited to supply chains, and successfully launched multiple blockchain-based solutions such as My Story™, BrightCode, Digital Carbon Ecosystem, and helped integrate blockchain technology into various industries and sectors including F&B, FMCG, Wine, Luxury, Automobile, Healthcare, and more. With the application of the VeChainThor blockchain, DNV GL and VeChain are creating real, net positive economic value for enterprise clients through provable, cutting-edge technology.
“From DNV GL Global to DNV GL China, everyone is actively promoting digital transformation. At its core, blockchain technology is essentially digital technology. With VeChain’s assistance, we could better empower some verification solutions that we currently have at DNV GL. Meanwhile, we have developed a new blockchain-based digital verification solution with VeChain. With the new solution, we can build a safer, better and more reliable connection between brands, enterprises, and consumers.”
— — Jie Yu, Director of Digital Transformation at DNV GL Business Assurance Greater China
In this video, DNV GL introduced the cooperation between DNV GL and VeChain, and how the VeChainThor Blockchain has been leveraged to create value for DNV GL and their clients.
Below is an excerpt and highlights of the video interview.
Q: Why did you choose VeChainThor Blockchain?
I’d like to call it an “inevitable coincidence.”
DNV GL is a global enterprise that focuses on delivering trust and is dedicated to creating commercial values and achieving mass adoption while VeChain is born with the mission of promoting blockchain adoption and “Creating Valuable Transactions”. With shared value and vision, it’s natural for the two to come together.
Here’s the story behind our cooperation. About three or four years ago, the headquarters of DNV GL and its office in China, through their own channels, both contacted VeChain with an intention to form a partnership. But they had no idea that they were actually in contact with the same company. Both claimed confidently, “We found a terrific blockchain company eligible for cooperation.” To persuade the other side that they’ve picked a better one, the two parties had an in-depth discussion and only to find out that they’ve chosen the same company. And so, the process following that went smoothly and DNV GL decided to establish a strategic partnership and invest in VeChain.
Q: On the first anniversary of the launching of the VeChainThor Blockchain Mainnet, do you have anything to say to VeChain?
A: Congratulations on the one-year anniversary of launching the VeChainThor Blockchain Mainnet! Over the last year, we have achieved really impressive results and implemented a number of commercial application cases. And I hope that in the next 1 to 3 years, DNV GL and VeChain can implement more commercial application cases and thereby creating greater value.
Q: Which business area of DNV GL has VeChainThor blockchain technology been applied?
VeChainThor blockchain technology has been applied in multiple business areas of DNV GL. For example, DNV GL has integrated VeChain’s ToolChain developer portal into the BrightCode and My Story™ solutions to collect temperature data, test data, and relevant data with regard to time and logistics, all of the data collected are then uploaded to the VeChainThor Blockchain.
In the case of digital carbon ecosystem，we used VeChain’s smart contracts. Through smart contracts, carbon emission reduction equivalent can be calculated, based on which end users will be rewarded with carbon tokens accordingly. which is also known as carbon credits. In this way, we can build a network of value connecting enterprises and other participants within the ecosystem.
Q: Towards members of the VeChain community that are interested in this project, is there anything you would like to say to them?
Last year, DNV GL and VeChain have developed and implemented many commercial use cases, including BrightCode and digital carbon ecosystem. Besides, on a global scale, we have outstanding solutions like MyStory™. We have been making efforts to deliver solid results, steadily advancing the mass adoption of these solutions. In the next one to three years, and the years to come, we will gradually expand the adoption of these blockchain-based solutions in the market so that more enterprises can be included in the ecosystem. We will also explore new application scenarios to provide more enterprises with the valuable blockchain-based solutions developed by DNV GL and VeChain.
Q: How does DNV GL empower its clients through the VeChainThor Blockchain?
As Luca Crisciotti, CEO of DNV GL Business Assurance, and George Kang, CEO for Greater China of DNV GL Business Assurance, emphasized, we use the VeChainThor Blockchain technology to provide a new kind of digital assurance services that can empower our traditional corporate clients and generate new value and market competitiveness for them.
Q: In the next stage, what is DNV GL’s plan for VTHO consumption on VeChainThor Blockchain?
From our perspective, to increase the demand for VTHO, we need to accelerate the process of digital transformation, explore new application scenarios for blockchain technology and create more valuable business solutions for enterprises.
In the case of DNV GL, we’re to carry out our plan in three directions. First, promote the BrightCode and My Story™ platform and attract more enterprises from food, alcohol, FMCG industries and more. Second, invite more enterprises that are committed to reducing carbon emissions to join the digital carbon ecosystem, in the long run, the ecosystem will cover a greater number of individuals through the participating enterprises. Third, we are planning to upload DNV GL certificates, which we’re promoting on the global stage, to the VeChainThor Blockchain.
With the mass adoption of blockchain-based solutions and the emergence of a larger number of dApps, the demand for VTHO will increase dramatically.
As a strategic partner and a world-leading certification body, DNV GL played a major role in enhancing VeChain’s presence on the global stage and laid a solid foundation for VeChain to establish itself as a household name. We’re grateful for everything that DNV GL has done to further adoption of VeChainThor Blockchain-based solutions and applications across the industries, and looking forward to the journey ahead.
*This is the third article within the “Partner Update Series.” We hope to offer a unique look at some of the implemented solutions using the VeChainThor Blockchain. The range of use cases these partners are implementing on the VeChainThor main net includes energy, supply chain management, retail, digital certificates, food, and beverages. As more and more of our partners and enterprise organizations are ready to announce and talk about their successful use cases of the VeChainThor blockchain, we will continue to expand this series.
To learn more about VeChain’s blockchain-powered digital carbon ecosystem solutions and use cases, please visit