The China-based electronics and appliances giant, Haier has declared a triple-faceted collaboration with VeChain, the leading public blockchain platform, and DNV GL, the Norway-based technology consultancy DNV GL.
This announcement was made on Haier’s recently introduced IoC platform, COSMOPlat. This was declared on the 1st of April, during the event surrounding the COSMOPlat industry. This collaborative project has been founded based on the idea of implementing VeChainThor protocol in the textile and clothing business and is being backed by one of the most recent stakeholders, DNV GL.
The partnership which has been titled ‘MyStory’ is expected to integrate with the Internet of Clothing (IoC) by Haier, so as to create the very 1st blockchain-based life cycle management program for the clothing industry. Up until now, the implementation of MyStory has been with the Haier IoC in many cases. One such case is the use of a QR code on the clothes that customers can scan if they want to retrieve information regarding the products, this includes the information on raw material, designing, processing, and manufacturing, etc.
According to VeChain,
“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 help in verifying data stored on the blockchain, which includes business models, process controls and technical interfaces. It will also be in charge of verifying and distributing carbon credits.
Mr. Luca Crisciotti, CEO of DNV GL business assurance says,
“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, which reportedly generates an estimated $40 billion in annual revenue, is also trying to promote a more carbon-efficient lifestyle. Its IoC initiative is designed to make household products such as washing machines more environmentally friendly. The ecosystem is vast, connecting shoppers, retailers and appliances. 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.”