VeChain (VET), DNV’s Blockchain Solution Tapped for Aluminium Traceability
Norwegian firm, Hydro, has adopted the “Tag.Trace.Trust.” traceability blockchain solution co-developed by VeChain (VET) and DNV. Hydro aims to use the distributed ledger technology (DLT) solution to prove to its clients that its aluminum is produced in accordance with sustainable standards, according to a LedgerInsights report on March 3, 2021.
Hydro Taps VeChain (VET) DLT Solution
The world’s carbon footprint and greenhouse gas emissions have surged significantly since the 1900s, with emissions from fossil fuel and industrial operations contributing a massive 78 percent of the total output from 1970 to 2011.
According to a research report by the United States Environmental Protection Agency (EPA), the greenhouse gases-producing processes of industries and humans increased the earth’s atmospheric temperature by 37 percent from 1990 to 2015.
Now, in a bid to promote sustainable aluminum manufacturing practices and prove to customers and other users of its products that its aluminum manufacturing procedures are sustainable, Hydro is conducting a blockchain pilot powered by DNV and VeChain’s Tag.Trace.Trust. DLT solution.
Fostering Transparency in Manufacturing Ecosystem
Per sources close to the matter, in addition to tapping VeChain’s technology, Hydro will also collaborate with Vestre, a Norwegian firm that focuses on manufacturing urban furniture such as benches, chairs, and others, using sustainable and environmentally friendly materials.
Specifically, Vestre uses Hydro CIRCAL to manufacture most of its furniture. Hydro CIRCAL is Hydro’s product that’s made up of 75 percent recycled aluminum.
Commenting on the pilot, Bjorn Kjetil Mauritzen, Head of Sustainability at Hydro said:
“The aim of the blockchain pilot is to test a platform that supports manufacturers and brands to back their sustainability claims with verified data. This will allow them to trace the metal from the factory gates until it reaches the customer.”
If all goes as planned, users of the manufactured furniture will be able to get the entire sustainability information of the aluminum used in making it by simply scanning an embedded barcode on the side of the bench or chair.
DNV will be responsible for ensuring that only accurate data is entered into the Tag.Trace.Trust solution.
In related news, BTCManager informed earlier in February 2021 that Rio Tinto, the second-largest metals and mining corporation has integrated blockchain technology into its processes in a bid to promote transparency.