DNV GL Partners with VeChain to Track Assets

The new partnership aims to increase transparency and efficiency across the whole supply chain
25 January 2018   9327

Risk management giant DNV GL announced on Wednesday that it partnered with VeChain to use blockchain to improve the transparency of product and supplier information.

DNV GL is a global provider of assurance services, assisting companies in a range of industries to improve their business performance. According to the announcement, DNV GL will progressively adopt blockchain to help companies boost the transparency and traceability of their products from the factory to the consumer.

By leveraging the Internet of Things and blockchain technology, we are reinventing the assurance process. Our Digital Assurance Concept will provide both companies and consumers with an unprecedented degree of insight into product and supplier information, to an extent and with an accuracy which have not been possible before.

 

Luca Crisciotti

CEO, DNV GL — Business Assurance

It is stated that the new solution will initially target the food & beverage, retail and fashion industries and progressively expand to cover other industries, starting with automotive and aerospace.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.