DNV GL Buys A Stake In VeChain (VEN) To Develop New Digital Assurance Solutions
News reaching Ethereum World News indicate that top Risk Management and Quality assurance firm, DNV GL, has just bought a stake at VeChain (VEN). The extent of the buy-in has not been fully disclosed, but this adds to the PwC investment in VEN that was made back in May 2017 to accelerate the development of the VEN project.
With this partnership and stake in VEN, DNV GL aims at collaborating with the blockchain project on ways the company can expand its blockchain privilages through the VeChain Thor platform after becoming an Authority Masternode Owner. This will enable DNV GL to have the sole authority to validate and produce blocks. DNV GL will consequently offer more solutions to businesses on the public blockchain.
VeChain and DNV GL worked together to develop its My Story digital assurance solution that tracks each stage of a product’s manufacturing cycle and gives purchasers greater insight into the characteristics and sustainability footprint at each stage of the production of a particular item and guaranteeing the information is genuine.
The CEO of DNV GL, Luca Crisciotti, had this to say about the announcement:
VeChain has helped us realize our digital assurance ambitions through the launch of new revolutionary assurance products in the market. The acquisition of a stake in VeChain is a natural progression of our relationship and the investment will allow us to transform our existing business model and bring Digital Assurance to a wider audience, including consumers.
DNV GL is a global quality assurance and risk management company that is driven by a purpose to safeguard life, property and the environment, all in a bid to enable their customers to advance the safety and sustainability of their businesses. The firm operates in over 100 countries and has clients in the industries of oil and gas, maritime, power and renewables and other top notch industries geared towards a safer, smarter and greener future.
This buy-in by DNV GL, indicates a growing trend by ‘big firms’ showing more interest in blockchain technology, partnerships with major crypto projects, as well as cryptocurrency investing.
Current market analysis puts VEN at a value of $4.93 and up less than a percentage point in the last 24 hours.