Home Crypto Trader Pro Vechain (VET) Fundamentals for Q1 and Q2 2019

Vechain (VET) Fundamentals for Q1 and Q2 2019

by icosuccess
, Vechain (VET) Fundamentals for Q1 and Q2 2019

Vechain (VET) is a company that seeks to tackle the growing issue of fake products by revolutionizing the supply chain through blockchain technology adoption. The company believes that leveraging digital identification of assets on the blockchain will enable transparent production lines, build trust and transparency across borders and companies, ensure product provenance from birth to grave, and ensure authenticity of the supply chain in luxury brands, automobile, and carbon credit goods.

Also known as Vechain Thor, the platform creates smart-contracts which are automatic and do not require a third party for execution. Below, we look at some of the developments of the VET within Q1 and Q2 2019.

Migration of DNVGL’s Private Blockchain to Vechain’s Public Blockchain

At the Vechain 2019 Summit, DNVGL, a quality assurance company founded in 1864, announced a move away from its traditional method of validating products and processes, which involved the issuance of a Management System Certificate at the end of their inspection of renewable, oil and gas, maritime, and power industries. The announcement stated that there would be a complete migration of its private blockchain to Vechain’s public blockchain as a way of avoiding falsified certifications. Customers will have digital identities that will allow them to transact with the DNVGL ecosystem.

Hi there! This article is for pro users only. Please log in or register to continue reading the article.

Related Posts