Global Consultant DNV Invests in Blockchain Startup VeChain

Norway-based registrar organization DNV GL has invested in blockchain startup VeChain as part of an expansion of an existing working relationship.

While the companies did not reveal the amount of the investment, VeChain CEO Sunny Lu told CoinDesk that the companies would continue their partnership, which uses VeChain’s network to securely store supply chain management data.┬áThe move marks one of the first enterprise investments in the VeChain network, he added.

Furthermore, DNV plans to become the first VeChain Authority Masternode holder, meaning it will have control over 101 Authority Masternodes on the startup’s public VeChainThor network.

Luca Crisciotti, chief executive of DNV, told CoinDesk that the investment is one of several aimed at improving its existing processes – in this case, using VeChain’s network to become more efficient, he said.

Furthermore, DNV plans to become the first VeChain Authority Masternode holder, meaning it will have control over 101 Authority Masternodes on the startup’s public VeChainThor network.