Weekly Report Nov. 16 – 22

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Following the big week in Singapore that included a steering committee meeting, meetups, and a host of other public events, VeChain was quick to get back to business in China.

Nov. 16: Presentation to DNV GL

VeChain’s CBO Qian Chengcheng attended a blockchain technology for business applications, that was attended by a number of local groups including the Bureau of Commerce, Zhejiang China Commodities City Group, the Yiwu Electrical and Electronics Association, and an overseas student association. With so much positivity around blockchain in China, events that focus on education and business governance will play a major role in opening up potential partnerships.

dnv gl,DNVdnv gl,

11-17: COO Kevin Feng speaks at a Global Entrepreneurship Blockchain Event (Shanghai)

Kevin Feng took part in a presentation on the potential of blockchain, and informed the audience about the key for enterprise usage: mainly that blockchain must create value by reducing costs or increasing efficiency.

He noted that “Since the beginning, VeChain has always paid attention to business adoption related to the real economy, such as supply chain, food safety, medical care, etc. This path of development is correct, but rarely seen in the blockchain industry.”

Nov. 20 – Accenture Delegation Visits VeChain

Consulting giant Accenture sent a delegation to VeChain’s Shanghai office, including their international team and core customer reps. Their main goal was to learn more about the current state of blockchain technology and understand how it can help to innovate in the business world. This was a great opportunity to show off many of VeChain’s solutions, such as ToolChain, and explore the possibility of future cooperation.

Nov. 22 – VeChain and DNV GL Present at the AWS Retail & Consumer Products Industry Conference

VeChain CBO Qian Chengcheng and DNV GL’s Director of Digital Transformation Yu Jie headed down to Guangzhou to participate in the Amazon Web Services Retail & Consumer Products Industry Conference. They discussed how blockchain can be used in digital certification services, such as My Story.

Looking ahead, next week is already shaping up to be an important one for the VeChain ecosystem as CEO Sunny Lu and DNV GL’s Renato Grottola will be speaking in Milan at Distributed Minds. Grottola is managing a number of key VeChain-related projects, including the San Marino Low Carbon Ecosystem, making him an intriguing speaker for update-hungry community members. Also speaking at the event will be Jur CEO Alessandro Palombo and head of San Marino Innovation, Sergio Mottola.

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DNV GL’s Renato Grottola Presents Keynote on Blockchain in Traceability, San Marino, and Digital Assurances using VeChain

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Renato Grottola’s keynote at the Shanghai Wanxiang Blockchain Week was succinct, leaving audiences without any confusion: Mainly that DNV GL is past the “Proof of Concept Era” and ready to bring the blockchain to businesses. He began by explaining how decentralization and disintermediation was reducing the trust gap and posed a threat to their business model, a model with a 150 year history and client-base in over 100 countries. He then explained how DNV GL began developing their Digital Assurances to provide trust on “the border” of the physical and digital world. This includes verifying that product IDs and data uploaded to the blockchain is accurate and compliant.

Grottola stressed that this was already in production, while referencing their solutions for the wine industry in Italy.

Blockchain plays a major role in DNV GL’s plans to digitize their certification services. Grottola explained how DNV GL was developing digital wallets and identities to be a gateway to DNV GL’s digital services. This digital certification service is scheduled to be online later this year, with the full wallet services being released to over 900,000 customers in January of 2020. DNV GL is authorized to provide certifications on a wide range of industries, including maritime, gas & energy, healthcare, and management systems. Grottola is a big believer in circular ecosystems. His work strives to align a large number of companies working together to create mutual benefit and value. Customers share in this value creation, by gaining benefits that can be contributed back into the ecosystem – a system that needs to be backed by blockchain-based trust. A great example of this is the ecosystem being built in San Marino, a region with progressive leadership and a small but flexible population. VeChain’s public blockchain will be used to encourage citizens to become carbon neutral, by rewarding them with tokens (nicknamed ‘Greenies’) for activities such as public or electric transport, ride-sharing, low-energy and water consumption, solar power installation, and recycling. This system, aimed at tourists as well as citizens, will allow residents and visitors to redeem tokens for a number of goods, discounts, and additional services. This ecosystem will be developed by DNV GL, but will require the participation of a number of large corporations that have yet to be announced. Grottola also stated his belief that blockchain and circular ecosystems are essential for helping with the UN’s Sustainable Development Goals. Circular ecosystems, like the one shown in San Marino, are being developed by VeChain and DNV GL in other key regions, including China and some European nations. They have the ability to activate and engage citizens, providing incentives to meet the SDGs, rather than just relying on traditional government driven initiatives. Grottola concluded with a list of things DNV GL learned on their 2 year journey with blockchain. He stressed the importance of collaboration, and warned that the internal debates between “alt-coiners” and “one-coiners” was extremely detrimental to the entire industry. There was little doubt that among an international audience with many top industry leaders – few were anywhere near the level of DNV GL.

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MOU between DNV GL, VeChain, andDNV GL introduces new SMIT token and low-carbon ecosystem

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Monday, July 22 – DNV GL continued to push for more innovation towards lowering carbon emissions with their new proposal for a San Marino Low Carbon Ecosystem. The Memorandum of Understanding was signed by Sunny Lu (VeChain CEO), Andrea Zafferani (the Republic of San Marino Secretary of State for Industry, Trade, Business, Cooperation and Telecommunications), Sergio Mottola (the President of San Marino Innovation), as well as DNV GL Global Director of Digital Transformation, Renato Grotttola.

Andrea Zafferani, Segretario di Stato Segreteria di Stato per l’Industria, l’Artigianato e il Commercio, il Lavoro, la Cooperazione e le Telecomunicazioni della Repubblica di San Marino Sergio Mottola, Presidente San Marino Innovation - Istituto per l’Innovazione della Repubblica di San Marino S.p.A, Renato Grottola Global Director – M&A and Digital Transformation, DNV GL – Business Assurance, Sunny Lu CEO of VeChainSource: DNV GL

“We are particularly proud of this Memorandum of Understanding that certifies the Republic of San Marino as the ideal place to foster a culture of experimentation and bring blockchain to our everyday lives. We’ll give life to a project that will directly engage  citizens and reward their sustainable behavior, while also meeting the country’s demands in regards to CO2 emissions reduction, water saving and waste disposal and management. Our ambitious goal is to become the first zero-emissions country in the world.”

Andrea Zafferani, Republic of San Marino Secretary of State for Industry, Trade, Business, Cooperation and Telecommunications

What is a low-carbon ecosystem?

The purpose of a low-carbon ecosystem is to incentivize cleaner activities. DNV GL and VeChain first collaborated on a blockchain-based low-carbon ecosystem in China, working with major multinational partners like People’s Insurance Company of China, BYD, Bright Foods, as well as top local hospitals and universities. The plan was to reward eco-friendly behavior with credits that can be used towards useful products or services. For example, users who take advantage of BYD’s electricity-powered hybrid vehicles would be entitled to spend their credits on premium medical care at the prestigious Renji Hospital in Shanghai.

The San Marino Innovation Token (SMIT) will be the reward for CO2 emissions reduction, water conservation, and waste disposal and management. This is a landmark achievement for the blockchain industry, as it’s the first government to implement a public chain for assistance with environmental protection.

The China-based low carbon ecosystem, powered by the CVCT token, is expected to launch later this summer. The SMIT-powered ecosystem has a bit further to go with development, but has already been in development for over a year, according to San Marino Innovation President Sergio Mottola. Both of these tokens should bring increased volume to the VeChain mainnet, which already ranks in the Top 10 of most used public blockchains. Additionally, they should serve as an example of how blockchain technology can be used by government organizations to improve citizen services within a country.

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DNV GL partners with Deloitte China to improve healthcare standards in China

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One of VeChain’s closest strategic partners spent the week focused on the medical industry – an industry in China desperate for reform and modernization. Burdened with one of the lowest doctor-to-patient ratios in the world, the public hospital systems remain overwhelmed, while private clinics are under-utilized, especially in rural regions. Patients show a clear lack of trust and respect for most medical professionals, a characteristic that often leads to violent attacks when they feel unsatisfied with the quality of medical service.

While healthcare has always been a focus of DNV GL, this week was a bold statement with the signing of a strategic cooperation with Deloitte China. Their partnership focuses on improving the standards of hospitals and medical facilities throughout China through training, consulting, formal certification, and improving the supply chains. While VeChain was not mentioned in the formal press release, these are all use cases that VeChain, DNV GL, and Deloitte have collaborated on in the past.

May 14th – DNV GL Business Assurance for Greater China CEO George Kang attends the signing ceremony. Kang is a member of the VeChain Steering Committee.

“As the largest professional service organization in the world, Deloitte helps the Chinese medical organizations to integrate international standardization and promote the sustainable and healthy development of the industry through the service capabilities and advantages of global network, technological innovation and operation management.”

Ms. Wu Ping, Leading Partner of Deloitte China Life Sciences and Medical Industry

This week also saw the 81st China International Medical Equipment Fair hosted at the Shanghai National Expo & Convention Center. DNV GL Management Group worked with partners to present the expo, which is the largest medical device expo in the Asia-Pacific region.

DNV GL has strategic partnerships with many medical device manufacturers, and uses its certification services to promote a higher standard of equipment and facilities throughout the region. This year’s theme was “Intelligent Reconstruction of the Future” and focused on emerging technologies such as AI, robotics, blockchain, big data, and 3D printing.

VeChain and DNV GL also added Renji Hospital to the Low Carbon Digital Ecosystem. This influential and historic hospital will provide priority services to ecosystem users, incentivizing a whole new segment of the population to take part in eco-friendly activities. VeChain’s blockchain technology can play a major role in modernizing traditional healthcare information systems and supply chains. By working with DNV GL and other strategic partners, VeChain has an advantage over many other public blockchains in the industry.

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Renji Hospital enters Low Carbon Ecosystem, will host anniversary event featuring Norway-in-a-box and DNV GL

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On May 13th, Renji Hospital will celebrate the 175th anniversary of the hospital’s founding, while also commemorating 65 years of diplomatic ties between China and Norway. Featured at the event will be celebrations of Norwegian culture, including the first traceable salmon in China with Norway-in-a-Box.

As one of the oldest and most prestigious hospitals in China, Renji’s addition to the Low Carbon Ecosystem is a valuable one. Renji, partnered with Shanghai’s Jiaotong University, is consistently ranked as one of the top hospitals in the entire country. Established in 1844 with the help of the London Church, Renji Hospital will give priority to low carbon users when providing their distinguished medical services. In a country where quality medical care is in incredibly high demand, adding benefits like these will encourage more users to enter the ecosystem.

Renji’s inclusion is particularly remarkable because it indicates a commitment to global sustainability and social responsibility. Weeks after Chinese President Xi Jinping announced that their country must focus on green initiatives, the signs are in place that more and more corporations will prioritize protecting the environment. The Low Carbon Ecosystem provides the perfect solution by incentivizing consumers and rewarding corporations, allowing the industrialized country to shift towards a cleaner future.

Norway-in-a-Box

 

Ethically-sourced seafood products to be sold in China

On April 30th, Norway-in-a-Box held an event in Shanghai to announce the launch of their blockchain traceability through Bright Code, and discussed how technology could be combined with fresh seafood to target a new generation of Chinese consumers. Norway-in-a-Box focuses on freshness, ethical-sourcing, and traceability, using blockchain to build trust with consumers. By using IoT sensors and supply chain information audited by DNV GL, they aim to provide consumers with verified data throughout the whole value chain. This includes fishing vessels, fish farms, broodstocks, and continues down to processors, distributors, and retailers.

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