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VeChain Brought To Italian Economic Ministry

VeChain Brought To Italian Economic Ministry
Breaking News / VeChain

DNV GL is an international quality assurance company based in Norway and they have recently introduced the outlook on VeChain to the Italian Ministry of Economic Development. The mind behind this is the companies digital transformation director, Renato Grottola who is working closely with the national blockchain task force in Italy to create a blockchain strategy for the government.

DNV GL is the biggest classification society in the world with more than $19 billion in revenue as of 2017. The firm is vital when it comes to the service providers in the global logistics chain for more than 13,000 vessels and mobile offshore units working across 100 countries.

In a video at MISE, Grottolo shows public blockchain platform VeChain and shared his thoughts on the upcoming challenges and opportunities.

“I believe our goal is to provide a clear direction and support to help the government outline a national blockchain strategy. I would say diversity is a distinctive value for our country and I think blockchain can contribute in this regard as well as help to create a reliable and trusted environment for financial and productive processes – such as supply chains. I focus on taking blockchain from digital to physical assets. Much can be done. Think about ‘made in Italy,’ for instance, or how much transparency we will be able to bring to the relationship between citizens and public administration.”

In addition to his work with DNV GL, Grotolla is also a member of the Italian Association of Independent Certification as well as Inspection Bodies and VeChain’s steering committee.

Providing blockchain solutions to several different industries and allowing independent physical audits, VeChain also provide data collection, verification services in order to oversee products and information.

As reported by The Daily Hodl, VeChain works closely with DNV GL on, MyStory (that VeChain fuel) which is a decentralised application that allows for greater transparency and assurance in the supply chain.

According to the New York Times, products made in Italy contribute at least five percent to the nation's gross domestic product.

With costs increasing though and competition leading to malpractice risks in the supply, blockchain enabled solutions are designed to create the transparency needed for such risks to be reduced.

What are your thoughts? Let us know what you think down below in the comments!

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