VeChain Partners With World’s Largest Home Appliances Manufacturer

According to a new source, the famous blockchain platform, VeChain which has its base in Singapore has partnered with Haier, the giant consumer electronics firm from China and with the risk management firm, DNV GL to make sure that they are able to improve the transparency in their supply chain.

Haier, is the largest home appliances manufacturer across the globe. Haier owns few of the biggest names in the industry which include Candy, Casarte, AQUA, GE Appliances and Fisher & Paykel. Just last month Haier launched its “Internet of Clothing” [IoC] which is a networked laundry solution which will be connecting smart washing machines, folding machines and laundry racks. With this partnership with Haier IoC, ‘My Story’ the traceability application of VeChain will be used to protect itself from frauds, verify products and track carbon footprints. After successfully scanning the QR code attached to code, costumers can receive data related to their product.

According to the statement published by VeChain on its official site,

“My Story is an off-the-shelf blockchain based digital assurance solution…combining deep industry expertise of prominent industry leaders, and DNV GL, with independent physical audits, data collection, and verification services.”

DNV GL will be assisting in verifying information stored on the blockchain network which includes business models, technical interfaces and process controls. DNV GL will also be taking care of distributing and verifying carbon credits.

The CEO of the firm, DNV GL business assurance, Mr. Luca Crisciotti has said,

“This strategic cooperation empowers the clothing lifecycle management system through public blockchain technology, enhancing consumers’ trust which is becoming essential for a business to succeed.”

Haier is one of those successful firm’s which generates nearly $40 billion in yearly. This initiative is an attempt to promote a carbon-efficient lifestyle. Its IoC initiative has been designed to create household products like washing machines environment friendly.

According to Haier,

“[The platform] now works with more than 4,800 apparel resources to integrate washing machines, smart wardrobes, dressing mirrors, ironing machines and more to offer customers a smart solution covering washing, fabric care, storage, matching and shopping.”

Just last year, DNV GL purchased a stake in VeChain which was a part of its plans to build trust and transparency through digital solutions.

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