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   1593

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.

Gemini & Partners to Launch Virtual Commodity Association

Association is created to develop standards for the industry, promote transparency in the market and cooperate with regulators, including the CFTC
20 August 2018   115

Several major exchanges decided to create a new structure designed to eradicate manipulation in the digital assets market, Bloomberg reports.

The Virtual Commodity Association was formed by the founders of the exchange Gemini Cameron and Tyler Winklewoss. According to a statement released on Monday, the group also included Bitstamp, BitFlyer USA and Bittrex. Representatives of four trading platforms will meet in September to consolidate the provisions for the future functioning of the organization.

The Virtual Goods Association will develop standards for the industry, promote transparency in the market and cooperate with regulators, including the Commodity Futures Trading Commission of the United States (CFTC), in order to prevent manipulation of Bitcoin, Ethereum and other currencies.

As the temporary executive director of the organization, Maria Filipakis, who worked in the Financial Services Department of New York, was appointed, where she took part in the creation of a BitLicense.

Earlier, the Winklewoss brothers tried to launch their own ETF, tied to bitcoin, but the US Securities and Exchange Commission denied them twice, as the reasons for its decision, among other things, calling for the absence of adequate measures to prevent cryptocurrency market manipulations.