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Vechain Bringing Blockchain in Physical Industries

In the recently held Shanghai Wanxiang Blockchain Week, DNV GL’s Renato Grottola presented the companies use of Blockchain to construct the gap between Physical world and Digital world. He placed that DNV GL uses the technology of blockchain in traceability, San Morino and digital resolution using VeChain.

Renato Grottola shared how Decentralisation was causing an issue in because of the trust of its clients and posing a threat to their Business model. He later concluded that the digitalisation of the technology promises better servicing and accountability. The use of digital technology and blockchain was already placed in wine industries in Italy.

DNV GL’s use of blockchain technology confirms that it is playing a major role in certification services, Grottola explained how the company is using blockchain to create e-wallets and identities to provide a doorway to digital services of DNV GL. This digital certification service is scheduled to be online later this year, with the full wallet services being released to over 900,000 customers in January of 2020. DNV GL has acquired to provide certifications to various industries.

The company also believes to cooperate with the number of companies to create circular ecosystems for mutual benefit and creating value using blockchain. A great example of this is the ecosystem being built in San Marino, a region with progressive leadership and a small but flexible population.

VeChain’s public blockchain will be used to encourage citizens to become carbon neutral, by rewarding them with “Greenies” (Tokens), for use of public transport (electric), solar energy, low energy use and water consumption. This system is included for both tourists and citizens, which the tokens are given can be used at stores, online shopping and consultancy, and even as tax credits in San Marino. This makes San Marino the first republic to be collecting tokens as tax credits for its development. This ecosystem will be developed by DNV GL but will require the participation of a number of large corporations that have yet to be announced.

The ecosystems being developed in San Marino are backed by VeChain and DNV GL and also in other important regions as told by Grottola.

Grottola concluded with a list of things DNV GL learned on their 2-year journey with blockchain. He stressed the importance of collaboration, there was little doubt that among an international audience with many top industry leaders – few were anywhere near the level of DNV GL.

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About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

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