Chinese cyberspace comission recognizes VeChain’s blockchain technology

  • The Chinese Office of the Central Cyberspace Affiars Commission has named VeChain as an outstanding use case of the blockchain technology.
  • The ToolChain™ developed by DNG GL and VeChain enables many companies to resume normal operations.

An article published in the Chinese daily newspaper “Guangming Daily” was published on the website of the Chinese Office of the Central Cyberspace Affairs Commission (CCAC). The report discusses current use cases of blockchain in industry and business and how the technology can change the healthcare industry for the better. The CCAC is a high-level office reporting to the country’s heads of state and is directly accountable to Chinese President Xi Jinping.

VeChain provides innovative solution

Especially in times of the coronavirus, systems for prevention and prevention of further spread are in demand. The report states that VeChain, in cooperation with DNV GL, provides a future-oriented blockchain solution that makes a valuable contribution to the protection of the population, government and industry in the fight against COVID19.

The virus containment prevention solution provided by VeChain will allow many companies to resume normal production operations. VeChain’s MyCare is already used in the Norwegian shipping industry as well as by some hotel chains such as ITC Hotels and Intercontinental. My Care and the Infection & Emergent Pathogen Risk Prevention Framework help to review and improve hygiene and safety standards.

All important information can be read out in the hotels as well as on the ships by scanning a QR code and thus be used to check the standards. VeChain CEO Sunny Lu explained that VeChain helps to cope with the “new normality” with the corona virus and to regain the lost trust of the population in the government:

In the ‘new normal’ brought about by the epidemic, consumers’ pursuit of trust is unprecedentedly high. Blockchain technology will improve data integrity and commercial credibility which is an important guarantee for multi-party cooperation and mutual trust.

He further describes that the block chain data service platform ToolChain™ provided by DNV GL and VeChain enables secure and efficient handling of highly sensitive data, which can be stored on the block chain in a tamper-proof and transparent manner. The platform offers a flexible environment with innovative tools that can be adapted to the research and development of complex application requirements in different scenarios.

In a recent update, Sunny Lu also stated that the integration and setup of the VeChain ToolChain™ no longer takes several months, but only a few weeks. Thus, far-reaching application scenarios can be realized and implemented quickly. According to Lu, this paves the way for a mass adaptation of the VeChainThor block chain.

VeChain Community Design Contest

The VeChain Foundation announced a competition to design the cover of the VeChain Twitter page. The contest started yesterday and ends on August 10th. All participants can create a design and post a tweet with the hashtag #Design4VeChain. Furthermore all applicants should upload their files under this form. The winners can win a prize money of 3.000 USD or an equivalent prize.

About Author

Collin is a Bitcoin investor of the early hour and a long-time trader in the crypto and forex market. He's fascinated by the complex possibilities of blockchain technology and tries to make matter accessible to everyone. His reports focus on developments about the technology for different cryptocurrencies.

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