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VeChain CEO: ‘Digitalization is the new black and VeChain will not be missed’

  • Sunny Lu, VeChain’s CEO, believes that digitalization is the new black and that blockchain will not be ignored.
  • VeChain’s partner DNV GL has launched ‘Tag, Trace, Trust’ which allows users to assign a digital identity to products for authentication.

Digitalization is the new black, VeChain CEO and co-founder Sunny Lu believes. In a recent tweet, Lu claimed that in this new wave of digital transformation, blockchain will not be missed. He cited VeChain as one of the blockchain networks that will make the biggest impact in the digital era.

Lu tagged a blog post by Norwegian classification giant DNV GL in which it announces ‘Tag. Trace. Trust.’ a new digital classification product on the VeChainThor blockchain. It allows users to attach a digital identity to their certificates and product passports for easier and more efficient authentication.

Tag. Trace. Trust.

DNV GL aims to instill trust in the claims and attributes of assets and products with a transparent, seamless and secure solution. It does this by tagging these products with a unique digital identity, made possible by VeChain’s blockchain network. This allows a company’s customers to easily trace these products to their origin and to check the data, authenticity and validity.

Tag. Trace. Trust. helps you issue a statement, certificate of conformity or digital passport to share the quality, performance and environmental impact of your products and assets. You will instantly benefit from the ability to ensure the origin, maintain the integrity of your products, protect your market position and differentiate company and product brands in a trusted way.

The product is easy to implement, allowing even the smaller enterprises to integrate it. Once the firm designs and implements the template, it issues the statements containing the claims and attributes of the product. It then shares a single statement or product certificate with its end users. The users can scan a QR code to trace and check the origin of any product they purchase.

The product’s benefits include maintaining the integrity of products and assets and safeguarding the authenticity of claims and attributes.

The product is the latest by DNV GL to integrate blockchain technology into its operations. The Oslo-based firm, which is the largest classification society in the world, launched its Digital Assurance Concept last month. It uses VeChain’s blockchain to instill trust, accountability and security in global commerce.

Digital Assurance Concept combines blockchain technology with embedded sensors and other IoT technologies. This enables it to obtain unique insights about a product’s status, history and performance.

Luca Crisciotti, the CEO of DNV GL’s Business Assurance remarked, “Data is becoming an increasingly valuable asset and this partnership with VeChain will enable our digital solutions to address changing needs in the data-driven economy.”

About Author

Steve has been a blockchain writer for four years, and a crypto enthusiast for even longer. He is most excited by the application of blockchain to solve the challenges facing developing nations.

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