DNV GL And Deloitte Issues 90,000 Blockchain-Based Certificates
VeChain’s partners, DNV GL and Deloitte, have united forces collectively to produce the first set of blockchain-based certificates. At the moment, ninety thousand certificates have been transferred to a private blockchain.
According to a report issued by Deloitte, one of the world’s Big Four” accounting organizations, the change provides for transparent communication within companies on certifications.
Certifications distributed through this assures that certificates are saved on Blockchain, traceable, digitally tagged, and immutable. This was accomplished by the joint work of DNV GL and Deloitte EMEA Blockchain Lab.
The CEO of DNV GL, Luca Crisciotti, stated the company has been working on developing trust for nearly 150 years.
“In the age of digital transformation, there is an increased need for transparency in a volatile business environment,” says Crisciotti.
With the utilization of Blockchain, certificates are provided more credibility and traceability. Each issued certificate is connected to a unique digital identity after it has been digitized and sent to Blockchain.
Certificates are uniquely allotted, and the original is stored on Blockchain in a network of computers instead of a central repository. For verification purpose particularly against fraud, each certificate is assigned a unique QR code which is scanned and verified by anyone through Blockchain.
Martin Bryn, Partner at Deloitte, and Lory Kehoe, EMEA Blockchain Lab Lead at Deloitte, also commented on the development.
Bryn stated that innovation, which is one of the first applications of Blockchain outside the finance industry, shows the potency of the technology.
“In not too long, there will be concepts, prototypes, and investments emerging in every major industry,” Martin Bryn said.
Similarly, Kehoe greeted the achievement with delight, saying the EMEA blockchain lab is happy to be part of the ground-breaking project.
“This is an excellent example of blockchain technology entering the production life-cycle stage of the technology with DNV GL and Deloitte at the forefront of this digital transformation journey,” Lory Kehoe said.
VeChain, alongside its two associates, visited the Shanghai International Blockchain Week 2019 as a keynote speaker.
As an enterprise-friendly public blockchain technology, VeChain, through its representative Sunny Lu, chatted about how Blockchain helps improve business value. Sunny said for Blockchain to get mainstream approval, it has to offer a compliant, fair, and supportive environment.
VeChain’s Strategic ally Deloitte stated Blockchain is a broad ecosystem that goes beyond just being a decentralized governance technology.
Deloitte CTO, Antonio Senatore, said public Blockchain enables the connection of products companies and people in a digital way.