VeChain Powers DNV GL’s My Care: A Hospital-grade Infection Risk Management Solution 13333

With the COVID-19 pandemic threatening individuals and businesses worldwide, infection risk management has been a tough challenge. To help companies better handle this problem, DNV GL, one of the world’s largest assurance companies with over 15,000 professionals globally and over 110,000 customers, has designed, developed and released a blockchain-enabled infection risk management solution called My Care, which aims to assess, manage and mitigate infection risk in management processes, business dealings and operations for enterprise users.

This new initiative and product by DNV GL will be enhanced and powered by VeChain’s blockchain technology. In particular, the VeChain ToolChainTM BaaS Platform will be used to support DNV GL to launch this brand-new digital product in a rapid lead time.

First enterprise level customer to take advantage of this new solution is Viking Line, a publicly traded shipping company with an annual revenue of ~EUR 500 million. On June 17th, 2020, the company Viking Line announced to use My Care. More companies are expected to be on-board as DNV GL expands the scope of the product and enterprise adoption efforts.

VeChain Enhances DNV GL’s Digital Transformation Strategy

Since the announcement of our strategic partnership in January 2018, the collaboration between VeChain and DNV GL has been progressively promoting the adoption of blockchain to help enterprises bolster the transparency and trust between their customers and products. VeChain has been the infrastructural technology behind the various blockchain powered initiatives offered by the DNV GL portfolio of services.

By using VeChain ToolChainTM, DNV GL took the first step in May 2019 to develop its My StoryTM, a digital assurance solution that aims to track each stage of a product’s manufacturing cycle with the use of blockchain technology. My StoryTM is just one of the many different VeChain-powered services that DNV GL offers.

My Care To Assist COVID-19 Infection Risk Management

As the world grapples with COVID-19, managing infection risk requires a new approach to disease control and prevention, and new operating procedures and assurance practices would need to be introduced. This led to the introduction of My Care to assist companies on preparedness and readiness of infection risk management.

With the combination of standard templates, customizable tools, data value visualization tools and third-party certification services, VeChain ToolChainTM has been the technical foundation for different digital solutions. DNV GL’s My Care is another one of them that will utilize the VeChainThor blockchain for all data related purposes.

A Hospital-Grade Solution To Resolve COVID-19 Pain Points In Enterprises

The My Care methodology is derived from the approach DNV GL applies to assess infection risk management in hospitals. The solution is a suite of independent assessment services designed to help businesses reassure stakeholders that they have put infection risk management at the core of their risk management strategy. It brings together aspects of DNV GL’s healthcare standards, best practices in risk management, HSE (health, safety, and environment) and quality management systems and maturity safety rating standards.

For customers and other stakeholders, scanning the QR-code embedded in the My Care trust mark will provide users access to DNV GL’s assessment statement. These assessment statements are stored on VeChainThor blockchain, providing added trust and integrity. With blockchain, businesses can be assured that their infection risk management and best practices is effectively communicated to customers.

For enterprises looking to return to business, My Care’s holistic approach affirms its capability to manage and prevent infection risks, including COVID-19, enables readiness to deal with infectious diseases today and can drive lasting changes that build long-term business resilience.

Blockchain Powered Solutions To Further Expand On A Global Scale

As a major emerging technology in various industries, blockchain is quickly bringing about further digitization in the business world, which is an opportunity for both VeChain and DNV GL to further enhance our strategic partnership and facilitate business growth.

VeChain ToolChainTM has been receiving acknowledgement from various industries as a solution for persistent problems that hold back business growth, such as sustainability management, supply chain optimization, responsible manufacturing, and real-time asset flows.

Sunny Lu, co-founder and CEO at VeChain stressed, “As we contend with the new normal due to COVID-19, the demand for trust has never been so important. Blockchain will be one of the driving forces to increase confidence in data integrity, business credibility, and mutual trust in multi-party collaboration. With VeChain ToolChainTM, we have great confidence to support DNV GL’s digital transformation strategy to develop more digital solutions like My StoryTM and My Care to expand and improve their offerings to serve their clients worldwide.”

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GiveSafely.io Launches as a Secure Trust-based Donation Platform for Leading Charities to Incentivize and Interact With New Donors 14662

Donation platform GiveSafely.io has launched today with notable BBB Wise Giving Alliance’s (BBB WGA) accredited charities including: Save the Children, Easterseals, Physicians Committee for Responsible Medicine, Population Media Center, RedRover, Wild Animal Sanctuary, Cure Alzheimer’s Fund and World Emergency Relief. The platform aims to provide a safe and transparent space connecting the donors with charities ensuring any personal information is secured by the Ardor blockchain. Donors who agree to share their information with charities, are rewarded with TrustTokens.

GiveSafely.io has been launched with the aim of reaching out to younger and more technologically proficient donors who are less likely to make donations compared to older or less technologically savvy ones. This is despite the fact that both Generation Z and Millennials indicated a higher willingness to be approached by charities to give (19% and 23%, respectively) compared to 11% for the general population. GiveSafely.io plans to engage these donors on terms more accustomed to them. The platform also aims to restore trust in the online donation model, address concerns people have about misuse of their personal data and potential hacks. All personal information is stored on the Ardor blockchain and is only accessible to charities with donor permission.

Art Taylor, CEO, BBB Wise Giving Alliance: “This platform will provide new forms of engagement with Millennials and Generation Z which we believe are critical audiences for the future growth of philanthropy. Even prior to the COVID-19 pandemic, charities were facing a wide variety of challenges in how their traditional fundraising model operated, we believe this new donation platform will help strengthen donor trust in charities while also providing a bridge to younger donors seeking new forms of engagement.”

“We are living through a period of unprecedented technological change and disruption,” states Ettore Rossetti, Senior Advisor, Digital, Marketing and Fundraising, Save the Children. “This is having far reaching impact on how traditional industries operate including non profit organizations. For charities to thrive in these increasingly uncertain times, they should look to embrace new technologies when trying to reach new, potential donors. Test, learn, innovate.”

In addition to strengthening trust in the online donation model, the TrustTokens people are rewarded with can be redeemed for gifts and online experiences that combine a human element with a connection to the charity’s mission. These 15-20 minute experiences include offers like healthy cooking tips and a discussion of what it’s like to work at the selected charity, and other conversations that connect them to the charity’s mission. GiveSafely.io also enables cryptocurrency users to make donations directly to charities, responding to a recent finding that 25% of wealthy Millennials hold or use digital currencies and 31% have expressed an interest in using it (Edelman Report, Millennials with Money).

Lower Power Costs Becoming Essential Component for Profitability of Digital Mining Operations 14447

The rise in popularity of digital mining and the underlying blockchain technology presents both challenges and opportunities to the energy sector. Cryptocurrency mining is a difficult and costly activity. Miners must pay to build ever increasing bigger rigs capable of vast amounts of processing power, and then the rigs themselves must be powered with large quantities of electricity.

Companies with the access to electricity resources have a huge ‘leg-up” on their competition… so the race to acquire sources of inexpensive electricity can be a life-or-death situation for the mining facility. Many installations actually decide where to build their facilities based largely on the local availability of energy production facilities. As a result, the largest mining operations are springing up in parts of the world with cheap electricity, like China. In 2018, the state of Washington, by some estimates, hosted 15%- 30% of all Bitcoin mining operations globally due to availability of less expensive power sources. The cost matters! Profitability in a large part, relies upon how much their electricity costs… and IF they can even get all that they need.

An article in The Economist said: “BITCOIN has been alarming people for years because of the amount of electricity needed to mint new virtual coinage. Alex de Vries, a bitcoin specialist at PwC, (estimated) that (in 2018) the… global power consumption for the servers that run bitcoin’s software is a minimum of 2.55 gigawatts (GW), which amounts to energy consumption of 22 terawatt-hours (TWh) per year—almost the same as Ireland. Google, by comparison, used 5.7 TWh worldwide in 2015. What’s more, bitcoin “miners” consume about five times more power than they did last year, and orders of magnitude more than just a few years ago—and there are no signs of a slowdown.

An article in VOX added: “As the value of the digital currency has climbed, so has the amount of energy needed to keep this online economy running, which… exceeds the energy use of (over) 159 individual countries…”. All indicators seem to project that it will continue to grow in the years to come.

“We are very pleased to be working with an experienced, professional group such as Block One Technologies,” said Stephen Jenkins, President & CEO of Link. “This partnership allows Block One to access our existing power assets in order to conduct its digital mining operations more cost effectively, while also allowing us to expand our current business operations. While this is the first formal agreement between Block One and Link, the companies intend to pursue future agreements that will play an important role in Link’s growth strategy.”

Bijan Alizadeh, Founder & Chairman of Block One, commented: “By working with Link, Block One can take advantage of the competitive energy prices Link offers, while continuing to expand our digital currency mining operations. We have deep expertise in the digital mining space and partnering with Link on power supply makes a lot of sense for us and our clients.”

iTrustCapital Releases New Revolutionary Physical Gold Product on IRA Platform Utilizing Kitco Metals 17728

iTrustCapital, an investment platform for alternative assets in retirement accounts, today launched a new service that utilizes Kitco Metals and Tradewinds Markets Vaultchain™ Gold to deliver a revolutionary new product for precious metals investors. In 2020, we find ourselves in times of unprecedented economic uncertainty. As world governments print ever-growing amounts of money, millions of Americans seek ways to protect their wealth in a system stressing itself to the limits. Even though investors have billions of capital in Gold ETFs like GLD, many others distrust these traditional financial offerings. They want the added security of knowing the gold exists and is tied to an account in their name.

iTrust’s service gives clients the ability to buy and sell physical gold 24/7. Clients place trades through iTrust’s interface and executed through precious metals leader Kitco. The client’s ownership is ledgered on the Tradewinds blockchain with Vaultchain® Technology and securely stored at the Royal Canadian Mint. The assets are 100% backed with physical metals and deliverable upon request through iTrust’s service.

This modern solution solves a significant problem. Physical ownership of precious metals typically carries substantial costs over spot price – especially when custodied for an IRA. The nuts and bolts of transport, storage, and order execution contribute to expenses, at times exceeding 30% of the value of an order.

“I’ve been involved in the gold IRA space for more than a decade. iTrust’s solution to investing in physical gold in IRAs is by far the best option for investors,” said Blake Skadron, Co-founder & Chief Operating Officer at iTrustCapital. “Clients get all the benefits of owning gold and avoid the pitfalls of other IRA models such as paying high markups, dealing with commission sales reps, or suffering from inferior liquidity when it’s time to sell.”

ZebPay Expands Chainalysis Relationship in India 16435

Chainalysis, the blockchain analysis company, today announced the expansion of its partnership with ZebPay, the leading cryptocurrency exchange and wallet provider in India. Under the terms of the agreement, ZebPay will expand its use of Chainalysis KYT (Know Your Transaction) for transaction monitoring and compliance processes and Chainalysis Reactor for enhanced due diligence and investigations in India. The expanded relationship follows the recent regulatory developments regarding cryptocurrency in the country. ZebPay already uses Chainalysis software in Singapore.

“While there are still steps that need to be taken to strengthen cryptocurrency regulation in India, exchanges like ZebPay that implement robust compliance and investigative software will be well-equipped for future developments,” said Jason Bonds, Chief Revenue Officer, Chainalysis. “We believe India is poised to make advancements for the cryptocurrency industry, and look forward to growing our business there. We are excited to partner with ZebPay during such a historic time.”

“We wanted to build a best-in-class compliance program in India from the start,” said Avinash Shekhar, President, ZebPay. “We already knew the power of Chainalysis KYT’s automated compliance features and Chainalysis Reactor’s advanced investigative capabilities from our work with them in other markets, and we know Chainalysis will set us up for successful expansion in India.”

By leveraging Chainalysis KYT, cryptocurrency businesses like ZebPay can monitor large volumes of cryptocurrency activity and identify high-risk transactions on a continuous basis. Real-time alerts on the highest-risk activity allow compliance teams to focus on the most urgent activity and fulfill their regulatory obligations to report suspicious activity. Chainalysis Reactor assists cryptocurrency businesses to further investigate suspicious transactions and provide more detailed reporting on criminal activity such as fraud, extortion, and money laundering on the blockchain.

About Chainalysis
Chainalysis is the blockchain analysis company providing data and analysis to government agencies, exchanges, and financial institutions across 40 countries. Our investigation and compliance tools, education, and support create transparency across blockchains so our customers can engage confidently with cryptocurrency. Backed by Accel, Benchmark, and other leading names in venture capital, Chainalysis builds trust in blockchains. For more information, visit www.chainalysis.com.

About ZebPay
ZebPay is India’s leading cryptocurrency exchange since 2014, offering the largest BTC-INR and BAT-INR markets in the world. ZebPay is headquartered in Singapore, with exchanges in India, Singapore, and Australia offering cryptocurrency trading facilities.

LG Joins Hedera Governing Council to Accelerate Innovation and Adoption of Public DLT Globally 15759

LG Electronics Inc. and Hedera Hashgraph, an enterprise-grade distributed ledger platform, today announced that LG has joined the Hedera Governing Council. The Council, designed to enable the most decentralized governance model for a public ledger, will comprise up to 39 global organizations from a diverse array of industries and geographies.

LG is the Council’s 14th member, joining Boeing, Deutsche Telekom, DLA Piper, FIS (WorldPay), Google, IBM, Magalu, Nomura, Swirlds, Swisscom Blockchain, Tata Communications, University College London (UCL), and Wipro. As the sole home appliance manufacturer to join the Hedera Governing Council, LG will work with Hedera and other members of the Council to identify ways that distributed ledger technology can benefit consumers and supply chain partners by enabling seamless transactions.

All members of the Hedera Governing Council will run a node on the Hedera Hashgraph public network and are responsible for approving Hedera’s roadmap and updates to the platform’s codebase. Members ensure the Council’s decentralization and diversity.

Mance Harmon, CEO and co-founder of Hedera Hashgraph, said, “We are thrilled to welcome industry leader LG to the Hedera Governing Council. For many years, LG has been visionary in their approach to adopting new technology in the name of improving the lives of customers and partners worldwide. We look forward to collaborating with LG and their ecosystem to explore the many potential ways that distributed ledger technology can similarly be applied to benefit their customer base.”

“Distributed ledger technology holds the potential to improve customer value and allow enterprises across many sectors to offer new services that take advantage of the trust, security, and speed that it provides,” said Cho Taeg-il, senior vice president of LG Electronics. “We look forward to being a part of the Hedera Governing Council and opportunities where we can collaborate with other leading organizations across a wide range of industries to further develop the application of distributed ledger technology to benefit businesses and consumers alike.”

Mechanical Technology Incorporated Announces Closing of Previously Announced GigaWatt Acquisition 17495

Mechanical Technology, Incorporated (“MTI”), a publicly traded company (OTC Pink: MKTY) headquartered in Albany, New York, announced today that EcoChain, Inc. (“EcoChain”), a wholly-owned subsidiary of MTI, has closed its acquisition of the intellectual property of Giga Watt, Inc. (“GigaWatt”) and certain other property and rights of GigaWatt associated with GigaWatt’s operation of a crypto-mining operation located in Washington State.

The acquisition was approved by the United States Bankruptcy Court for the Eastern District of Washington and was consummated by EcoChain on May 20, 2020. As previously announced by MTI, EcoChain purchased the subject GigaWatt assets for cash consideration of $200,000 and will be assuming certain contractual obligations of GigaWatt related to existing leases and utility power supply. EcoChain intends to sell certain acquired equipment that is determined to be excess in nature so as to reduce EcoChain’s overall transaction costs. EcoChain expects that the newly acquired assets will form the cornerstone of EcoChain’s new pilot cryptocurrency mining operation.

About EcoChain
EcoChain, Inc., a wholly-owned subsidiary of MTI, is developing a pilot cryptocurrency mining facility powered by renewable energy to integrate with the bitcoin blockchain network.

About MTI
MTI is engaged in the design, manufacture, and sale of test and measurement instruments and systems through its subsidiary MTI Instruments, Inc. MTI Instrument’s products use a comprehensive array of technologies to solve complex, real world applications in numerous industries including manufacturing, electronics, semiconductor, solar, commercial and military aviation, automotive and data storage.