AsiaNet 90383

SHANGHAI, June 30, 2021 /PRNewswire=KYODO JBN/ --

On the 9th of September 2020 during the on-going impact of the COVID-19

pandemic, VeChain, in conjunction with DNV, introduced the blockchain-based

risk self-assessment application, VeTrust (

https://c212.net/c/link/?t=0&l=en&o=3212294-1&h=156594139&u=https%3A%2F%2Fmedium.com%2Fvechain-foundation%2Fvechain-and-dnv-gl-release-vetrust-a-new-blockchain-based-risk-self-assessment-application-to-d91fce3d41d1&a=VeChain%2C+in+conjunction+with+DNV%2C+introduced+the+blockchain-based+risk+self-assessment+application%2C+VeTrust

). Built on the VeChainThor public blockchain, it combines DNV's infection risk

management methodology and track record of providing globally recognised

compliance standards to help entities manage COVID-19 risk factors. Following

adoption by hotels such as InterContinental Shanghai Hongqiao NECC, VeTrust has

been steadily expanding its presence, developing new usage scenarios across

various industries in China. Currently, over 200 public areas are onboarded

into the VeTrust platform.  

Photo - https://mma.prnewswire.com/media/1554801/VeChain.jpg

Photo - https://mma.prnewswire.com/media/1554802/VeChain1.jpg

Logo - https://mma.prnewswire.com/media/738221/VeChain_Logo.jpg  

On the 22nd of June 2021, during an event held by the People's Government of

Suzhou New District, VeTrust was showcased as one of the Top 10 blockchain

applications and was formally acknowledged by officials.

In the pursuit of more effective top-down COVID-19 risk management, the local

government has been using the VeTrust platform to visualize the process of

infection risk management for all administrative areas in the district. It

covers a total of 95 residential communities and over 300,000 residents (as of

2021), with immutable, trustless proof of hygiene compliance being securely

shared with the government daily.

VeTrust provides a standardised framework for self-assessment in infection risk

management, assisting community officials in their management duties. The level

of readiness of a certain community will be assessed by a weighted calculation,

displayed visually as QR codes (Green - Conformity, Yellow - Readiness, Red -

Nonconformity). Through the VeTrust dashboard, other public officers such as

administrative teams can also easily access data related to the implementation

of infection risk management standards in a seamless, instantaneous nature and

verify that the health and safety of community residents are being maintained.

Utilizing the secure and scalable VeChainThor public blockchain, VeTrust's

application model of combining blockchain and administrative governance is able

to guarantee a higher level of health and safety, as well as a better and more

safe living environment for community residents, enhancing the sense of

security, mitigating epidemiological risk and improving quality of life.

A Bright Future

As the world continues to develop 'smart cities', applications such as VeTrust

create a receptive environment for the technology and open up further

possibilities for blockchain adoption and usage. As a critical trust layer for

data, blockchain has the power to fundamentally change how society operates,

removing intermediaries and falsities from the vast volumes of data created

daily. The potential of immutable, decentralised data is unprecedented,

promising to deliver disruption and innovation on a scale not seen since the

birth of the internet.

VeTrust is further proof that blockchain is far more than just a speculative,

theoretical and abstract technology. The adoption and real world usage of

VeTrust by the local government in Suzhou showcases the potential of blockchain

as a powerful technological asset and by proxy, signals to the world that the

VeChainThor blockchain is secure, scalable and ready for deployment as a

commercial application layer.

With years of development in a variety of key industries, VeChain continues to

demonstrate why it will help lead the public blockchain revolution and unleash

mass adoption of the technology around the globe.

About VeChain

Launched in 2015, VeChain Technology is a global leading enterprise-friendly

blockchain company which aims to connect blockchain technology to the real

world by providing enterprises with blockchain-enabled solutions suited to

their business needs.

It offers VeChain ToolChain(TM), a low-code blockchain-based SaaS platform that

allows enterprise clients to rapidly build and drive digital transformation on

a global scale, enabling the evolution of a trust-free and a distributed

ecosystem.

VeChain Technology is a pioneer of real-world blockchain applications, with

international offices in China, Singapore, Luxembourg, Japan, France, Italy and

the United States. With strong independent development capabilities, combined

with the professional compliance guidance of our strategic partners, PwC and

DNV, VeChain has established partnerships with many leading enterprises in

various industries, including Walmart China, Bayer China, BMW Group, BYD Auto,

PICC, Shanghai Gas, LVMH, D.I.G, ASI Group etc. Website: www.vechain.com

SOURCE: VeChain

CONTACT: News contact: press@vechain.com; or Business contact: bd@vechain.com