The Norway-based risk management firm DNV has invested in VeChain in a boost to the existing partnership between the two firms. DNV already use VeChain’s services for supply chain data management, and this new investment will accelerate the growth of the VeChain product, as well as seeing DNV become a VeChain Authority Masternode holder, allowing them to validate and produce blocks. Luca Crisciotti, Chief Executive of DNV, was quoted as saying:
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… 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 DNV investment adds to last year’s Pricewaterhousecooper investment, and secures a long-term relationship between the two firms, who are both pro-ethics in data management and blockchain-based supply chain handling. VeChain are already heavily involved in secure data recording and supply chain tracking in the automobile, logistics, medical and fashion industries.