While the firms did not reveal the details of the deal, VeChain CEO Sunny Lu told CoinAIO that the companies would continue their partnership, which uses VeChain's network to securely store supply chain management information. The move marks one of the first enterprise investments in this network, he said.
Luca Crisciotti, chief executive of DNV, told CoinAIO that the investment is one of several aimed at improving its existing processes - in particular, using VeChain's network to become more efficient, he said.
Additionally, the two the firms will build a supply chain product for DNV clients using VeChain technology.
"We are able to provide with VeChain a solution that balances safety and [speed]," Crisciotti explained, adding:
"Our mission is the ability to make sure that product is reaching the shelves, that it's ultimately reaching the consumer ... What we are providing to our customers is commitment."
The marks DNV's latest move in the blockchain space. Crisciotti told CoinAIO of one example in which the registrar issued certificates on its private blockchain just one year ago.
DNV's original agreement with VeChain was aimed at helping it more efficiently track food, beverage, fashion and retail products, as previously reported by CoinAIO.
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